Hewlett-Packard announced the firing of three top executives after reporting a dismal quarter and acknowledging that the company's failure to execute on its own internal computing initiatives left it vulnerable to competitors
Published:
15 August 2004 y., Sunday
Hewlett-Packard announced the firing of three top executives after reporting a dismal quarter and acknowledging that the company's failure to execute on its own internal computing initiatives left it vulnerable to competitors.
HP, which released earnings a week before they were expected, fell far short of targets and lowered its profit outlook going forward. HP earned US$586 million, or 24 cents a share, in its fiscal third quarter, 7 cents below targets. HP did manage to grow revenue year over year to $18.9 billion, in part on the strength of growing consumer PC sales.
HP shares tumbled some 13 percent Thursday and were losing ground again Friday morning, down 1 percent to $16.73 by midday. By contrast, Dell reported a strong second quarter, with revenues setting a company record and profit up 29 percent, and maintained its outlook going forward.
In the aftermath of HP's results, CEO Carly Fiorina announced that three executives, including those responsible for sales of servers and storage system as well as a push to migrate HP to new systems designed to make it more efficient, were being fired.
An internal effort to install a new supply-chain management and order-processing system took twice as long as expected and resulted in the company having to slash prices to move some equipment off the shelves.
Šaltinis:
E-Commerce Times
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
According to the data presented by the Ministry of Finance, in end-January central government debt made up LTL26, 310.8 million or 28% of projected GDP for 2010 (LTL 93, 819 million).
more »
As far as countries affected by the economic crisis, China fared extremely well.
more »
The European Commission has authorised today a Slovak scheme with a budget of approximately €3.32 million which aims at supporting farmers in Slovakia who encounter difficulties as a result of the current economic crisis.
more »
Commission sets out a 10-year strategy for reviving the European economy, casting a vision of ‘smart, sustainable, inclusive' growth rooted in greater coordination of national and European policy.
more »
The European Commission has launched today the Europe 2020 Strategy to go out of the crisis and prepare EU economy for the next decade. The Commission identifies three key drivers for growth, to be implemented through concrete actions at EU and national levels.
more »
Launching of the “SCHOOLS’ initiative for innovation and changes” Grant scheme.
more »
EU Member States must not only deliver on their international aid pledges, but also bring in a financial transactions tax and a temporary debt moratorium, to help developing countries to cope with the effects of the global financial and economic crisis, said the Development Committee on Monday.
more »
The EBRD is increasing its commitments to promote sustainable energy projects in Slovakia with a new €90 million funding under the existing Slovakia Sustainable Energy Finance Facility (SLOVSEFF) to ensure continuous implementation of energy efficiency and small renewable energy projects.
more »
According to the unaudited data, in 2009 AB Bank SNORAS earned LTL 8.7 million profit. The bank’s assets grew by 11 per cent up to LTL 6.342 billion during 2009 and were by LTL 647.8 million larger than at the beginning of 2009.
more »
Aviation security measures that go beyond common EU requirements should be paid for by Member States, not by passengers, said Transport Committee MEPs in a vote on Monday that could put Parliament on a collision course with the Council of Ministers.
more »