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
An aviation agreement has been signed today by the European Union and the Vietnamese authorities which will remove nationality restrictions in the bilateral air services agreements between EU Member States and Vietnam.
more »
The European Investment Bank marked the 50th anniversary of the Republic of Cyprus and its 30 years of activity in the country with a public ceremony celebrating the signature of a total of EUR 180 million for urban environment.
more »
In response to the financial crisis, the Commission has put forward legislative proposals to strengthen and expand existing tools for coordinating economic and fiscal policy in the EU.
more »
In the first meeting of the SME Finance Forum, possible means to improve the current situation of access to finance were discussed, such as the introduction of a grace period for firms in difficulties, the involvement of credit mediators and improved loan guarantees.
more »
The EU budget is no simple matter, but then no budget ever is.
more »
Parliament will be crucial in avoiding a “lowest common denominator” approach when helping to design the EU's new economic governance architecture, ECB president Jean-Claude Trichet told the Economic and Monetary Affairs Committee on Monday.
more »
With a multitude of language-related events taking place on or around 26 September, the main themes for this year's European Day of Languages are business and jobs.
more »
The EU disbursed today € 1.15 billion to Romania, the third instalment of a € 5 billion loan, which was agreed in May 2009 as part of a multilateral financial assistance package.
more »
The European Investment Bank has agreed to lend GBP250 million for the replacement, reinforcement and expansion of the gas distribution networks operated by Scotland Gas Networks and Southern Gas Networks.
more »
The bargaining positions of all players in the human food chain must be rebalanced, and fair competition enforced by law, to ensure fair returns to farmers and price transparency to consumers, says Parliament in a resolution voted on Tuesday.
more »