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
The EU needs a strategy by 2011 to encourage the creation of green jobs, says a draft resolution by the Employment and Social Affairs Committee that was adopted on Wednesday.
more »
Householders should not have to go without gas due to a gas-supply crisis, and such crises should be better managed, thanks to EU-wide co-ordination procedures and interconnection requirements laid down in draft legislation agreed informally with the Council at the end of June and approved by the Industry Committee on Tuesday.
more »
Today the Council has taken the formal decision which will pave the way for the introduction of the euro in Estonia as of 1 January 2011 and will become the 17th European Union country to share the euro currency.
more »
Proposals to improve protection for bank account holders and retail investors, and set up similar schemes for insurance policies.
more »
How should the EU's farm policy be reshaped and how should it be funded after 2013?
more »
MEPs on Wednesday approved some of the strictest rules in the world on bankers' bonuses.
more »
Long before the financial crisis the European Parliament regularly pointed out the significant failures in the EU’s supervision of ever more integrated financial markets.
more »
New strategy for stimulating tourism in Europe – to realise the full potential of an industry that already plays an important role in the economy.
more »
The European Commission has disclosed who in 2009 received EU funds in policy areas like research, education and culture, energy and transport or external aid.
more »
The European Commission has approved 19 programmes in 14 Member States (Austria, Belgium, Czech Republic, Denmark, Germany, France, Greece, Italy, Ireland, the Netherlands, Poland, Slovenia, Spain and the United Kingdom) to provide information on and to promote agricultural products in the European Union.
more »