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HP quarterly results lower, names new Enterprise chief

2013-08-22 09:08:00| Telecompaper Headlines

(Telecompaper) HP reported adjusted EPS of USD 0.86 for its fiscal third quarter, down 14 percent from a year earlier and in line with its outlook of 84-87 cents. Reported earnings for the three months to 31 July were better than expected, at USD 0.71 per share versus a loss of USD 4.49 a year earlier. Revenues fell 8 percent year-on-year to USD 27.2 billion, led by a decline in the consumer PC market and a weaker enterprise equipment and services segment. Operating cash flow was down 6 percent to USD 2.7 billion. The company maintained its outlook for full year adjusted EPS of USD 3.53-3.57. In addition it announced the appointment of COO Bill Veghte as general manager of the Enterprise group, a role that will also now include managing the group's cloud services. He replaces Dave Donatelli, who will take a new role focused on identifying early-stage technologies and working with venture capital firms. No new COO will be appointed for the moment.

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