HP released its fourth quarter earnings report, bearing out CEO Meg Whitman’s warning last month. It is not pretty. For the full year fiscal 2012, net revenue was $120.4 billion, down 5 percent from the prior-year period. For the fourth quarter, HP posted net revenue of $30 billion, down 7 percent year over year. In October, Whitman warned that the company’s turnaround wouldn’t materialize until the end of fiscal year 2014. What she didn’t say was that some of its expected decline would be exacerbated by improprieties on the part of recently acquired Autonomy.
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HP Clobbered by Autonomy Disaster
Posted by: Erika Morphy November 20, 2012 01:17 PMHP released its fourth quarter earnings report, bearing out CEO Meg Whitman’s warning last month. It is not pretty. For the full year fiscal 2012, net revenue was $120.4 billion, down 5 percent from the prior-year period. For the fourth quarter, HP posted net revenue of $30 billion, down 7 percent year over year. In October, Whitman warned that the company’s turnaround wouldn’t materialize until the end of fiscal year 2014. What she didn’t say was that some of its expected decline would be exacerbated by improprieties on the part of recently acquired Autonomy.