[TechBusiness] HP reports $8.9 billion loss in Q3

August 23, 2012


I’m not really surprised with this report but more of sad for HP. The Silicon Valley company recently posted an $8.9 billion loss during the 3RD fiscal quarter. No thanks to weak sales, lowering PC business, and Electronic Data Systems depreciation.

Last May, HP announced it will be cutting 27,000 jobs by 2014. This was different from the 275 webOS employees already laid off earlier. And also last year, HP decided that its personal group systems would stay and Meg Whitman was made new CEO and President. A lot of has happened within HP and most of them didn’t do the company good.

[Link] [TechFieber]

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