Sunday, August 19, 2012

Hewlett-Packard Third Quarter Earnings Revealed Aug. 22

Posted By on Sun, Aug 19, 2012 at 11:00 AM

More than a few Hewlett-Packard stockholders are anxiously awaiting the company's latest financial report, set to be unveiled Wednesday, Aug. 22.

HP officials have already let investors know that the news could be challinging, warning earlier this month that it will take a massive charge against its earnings, leading to a record loss of nearly $9 billion. In the past 15 years, HP has posted only one quarterly loss.

In May, Hewlett-Packard confirmed rumors of massive job cuts, saying it would shed 27,000 jobs, or about 8 percent of its workforce, by next year.

The job cuts are the largest staff reduction effort in HP's 73-year history. In 2008, the company said it would eliminate 24,600 jobs over three years, and in 2010, announced it would cut about 9,000 more workers over several years.

When the New York Stock Exchange rings its opening bell the morning of Monday, Aug. 20,
Hewlett-Packard shares will trade at $19.52, considerably lower than when it traded at nearly $30 in February.

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