Business Services Industry
Hewlett-Packard Earns Only 10 Cents Per Share, Blames Low Computer Prices.
Knight Ridder/Tribune Business News, August, 2003
By Crayton Harrison, The Dallas Morning News Knight Ridder/Tribune Business News
Aug. 20--Hewlett-Packard Co. stumbled far below expectations for third-...uarter profit on Tuesday, blaming its aggressive computer pricing for the miss.
The technology giant's income of $297 million, or 10 cents a share, was far below the consensus of 22 cents a share from Thomson First Call's poll of analysts.
The income beat last year's third-...uarter loss of $2 billion, or 67 cents a share. Revenue rose to $17.4 billion from $16.5 billion.
The earnings report after the market's close on Tuesday stunned investors, who sent H-P shares down 8 percent in after-hours trading. Shares had closed earlier at $22.11, down 2 cents.
H-P, based...
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