HP profits lower, to cut nearly 6,400 workers

HP profits lower, to cut nearly 6,400 workers
AFP
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First Published: Wed, May 20 2009. 01 30 PM IST
Updated: Wed, May 20 2009. 01 30 PM IST
Washington: US computer giant Hewlett-Packard reported a 17% fall in quarterly net profit on Tuesday and said it plans to cut two percent of its workforce, or nearly 6,400 workers, over the next year.
HP said net profit fell earlier.
HP said revenue grew 9% in the Americas to $12.1 billion and declined by 11% in Europe, the Middle East and Africa to $ 10.6 billion.
Revenue fell 10% in Asia Pacific to $4.7 billion.
HP said it expects third quarter revenue to be flat and full fiscal year revenue to decline by four percent to 5% with full-year earnings per share of between $3.76 to $3.88.
HP shares shed 4.625 to $34.89 ieports of injuries or damage, officials said.
The quake, was centered just 16 kilometers southwest of downtown Los Angeles at a depth of 12.1 kilometers, the United States Geological Survey said, very close to where a 4.7 quake struck on Sunday night.
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First Published: Wed, May 20 2009. 01 30 PM IST
More Topics: Corporate Results | US | IT | Computer | HP |