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HP Earnings Miss Estimates

|Includes:HP Inc. (HPQ)

Originally published at

Hewlett-Packard Company (NYSE:HPQ) announced its financial results for the fourth quarter and full fiscal year 2013, reporting earnings that missed analyst estimates. The technology company posted fourth quarter revenue of $29.1B, down 3% from a year ago while full-year revenue totaled $112.3B, a 7% decrease from fiscal 2012. Quarterly earnings were significantly increased due to a loss last year from a bad acquisition of the company Autonomy. Earnings per share were $0.73 per share, up from $3.49 losses per share. For the full-year, earnings were $2.62 per share, falling short of the projected $2.67 to $2.71 range. CEO Meg Whitman remarked that the company did well closing out the year, through excellent operations and strong cost management. Whitman is trying to help turn the company around, which has been plagued with issues ranging from having five CEOs in eight years, 70 acquisitions in the last 15 years, and shareholders lawsuits related to the aforementioned Autonomy acquisition.

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Stocks: HPQ