Problem was not the results, it was the outlook
Another disappointing earnings report has come and gone for Dow component Hewlett-Packard (NYSE: HPQ), reminding investors that for as talented as CEO Meg Whitman may be, she faces an uphill battle in restoring the company's lost luster.
At its nadir, the stock was down nearly five percent in Wednesday's after-hours session after the company said its fiscal third-quarter profit fell nine percent to $2 billion, or $1 per share. Revenue slid five percent to $29.7 billion. Analysts expected a profit of 98 cents per share on sales of $30.1 billion. The problem was not the results, it was the outlook.
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