HP kicked off this morning's Q2 earnings call citing a leaked company memo that recently popped up at Bloomberg. That memo, which had the outfit's CEO, Leo Apotheker warning of "another tough quarter," resulted in a five percent drop in HP shares in after-hours trading Monday, according to the Wall Street Journal, and prompted the release of the outfit's Q2 earning a day ahead of schedule -- an earnings call was originally slated for Wednesday. According to the report, the company managed to pull in $31.6 billion in revenue and $2.3 billion in earnings, compared to $30.8 billion in revenue and $2.2 billion in earnings the same time last year.
So what brought about the pot-stirring internal memo? Well, it seems HP's struggled to keep up with the competition when it comes to consumer computer sales. Despite an increase in revenue in every other segment of the company's business, HP's Personal Systems Group (which covers enterprise and consumer sales) saw revenue decline five percent year-over-year, with the portion covering consumer computers down 23 percent. That might seem like a big dip, and it is, but Apotheker says the company is "excited by the tablet opportunities," continuing on to say that the impending release of the company's TouchPad "will be an exciting product release for HP." For now, we'll just have to sit back and see if the webOS slate has the stuff to pull HP out of the consumer computer lurch. Full PR after the break.
Continue reading HP releases 2011 Q2 earnings early, following leak of foreboding internal memo
HP releases 2011 Q2 earnings early, following leak of foreboding internal memo originally appeared on Engadget on Tue, 17 May 2011 17:18:00 EDT. Please see our terms for use of feeds.
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UPDATE (4:08 p.m.):
Global technology and consulting giant IBM reported better-than-expected results this afternoon, earning operating net income of $3.3 billion or $2.78 per share during the first three months of 2012.
Follow the announcement live here >
However revenue at the Armonk, N.Y. based company was flat at $24.67 billion and below estimates set by Wall Street.
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Market Cap: $161.99 billion
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Analysts were expecting EPS of $1.13 on revenue of $32.05 billion.
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GOOG Off With Markets The market is off in early trading as Europe gets tough on Greek debt and a slew of earnings announcements roll in. Shares of GOOG are off while the rest of tech is moving sideways lifted by positive earnings results from chip making companies. Catalysts include Android momentum in the smartphone and tablet markets worldwide; Motorola acquisition approval and integration; regaining ground in China; resurgence of Google TV and continued growth of YouTube; the roll-out of Google Music, ex...
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HP kicked off this morning's Q2 earnings call citing a leaked company memo that recently popped up at Bloomberg. That memo, which had the outfit's CEO, Leo Apotheker warning of "another tough quarter," resulted in a five percent drop in HP shares in after-hours trading Monday, according to the Wall Street Journal, and prompted the release of the outfit's Q2 earning a day ahead of schedule -- an earnings call was originally slated for Wednesday. According to the report, the company managed to pull in $31.6 billion in revenue and $2.3 billion in earnings, compared to $30.8 billion in revenue and $2.2 billion in earnings the same time last year.
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