HP reported losses of nearly $9,000 million in the last three months
For HP, the third quarter of fiscal year began on May 1, 2012, so we just finished this 31 last July. During this period, the company showed disastrous economic results, with losses that totaled $8,850 million only 90 days.
What happened? It happens that played the payment of an acquisition that HP did in 2008, corresponding to the company Electronic Data Systems, which was made for $14,000 million, having paid about USD $8,000 recently. But besides that, the company was not walking very well lately, performing various restructuring within the company.
Despite the bad fortune of this fiscal quarter, we expect things to improve the three months to come, not only because HP does not have to pay USD $8,000 million in one fell swoop, but also because it reported a general increase in product sales , which obviously was overshadowed by the outrageous debt and economic loss.
Link: Loses $9 Billion HP in Three Months (Softpedia)Tags: eds, Electronic Data Systems, HP, lost, money, Results, sales