Hewlett-Packard sales fall short of forecasts

Hewlett-Packard HP said it was taking the "necessary steps" to improve performance

Related Stories

Computer firm Hewlett-Packard has seen a drop in first-quarter sales, as it attempts to turn itself around under new chief executive Meg Whitman.

Revenues for the three months to the end of January fell 7% on a year earlier to $30bn (£19bn). Analysts had forecast revenues of $30.67bn.

Net profit for the quarter nearly halved from $2.6bn to $1.5bn.

The fiscal first quarter was the first full period under Ms Whitman, who replaced Leo Apotheker in September.

HP saw sales decline in its key units of PCs and printers.

"In the first quarter, we delivered on our Q1 outlook and remained focused on the fundamentals to drive long-term sustainable returns," said Ms Whitman.

"We are taking the necessary steps to improve execution, increase effectiveness and capitalise on emerging opportunities to reassert HP's technology leadership."

The company's shares fell 2% in after-hours trading in New York.

On Tuesday, PC maker Dell reported an 18% fall in quarterly profit and forecast a drop in sales in the current quarter.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories



  • RihannaCloud caution

    After celebrity leaks, what can you do to safeguard your photos?

  • Cesc FabregasFair price?

    Have some football clubs overpaid for their new players?

  • Woman and hairdryerBlow back

    Would banning high-power appliances actually save energy?

  • Rack of lambFavourite feast

    Is the UK unusually fond of lamb and potatoes?

  • Members of staff at James Stevenson Flags hold a Union Jack and Saltire flag UK minus Scotland

    Does the rest of the UK care if the Scots become independent?

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.