Shares of the newly formed Hewlett Packard Enterprise climbed as CEO, Meg Whitman reassured the investors regarding the strong demand for corporate technology in the company's inaugural earnings report. It also provided justification for her move that lead to spinning off Hewlett-Packard into two companies.
Meg Whitman's bold move to spin off Hewlett-Packard might not have been a bad idea after all. An inaugural earnings report reassured the investors, giving the move an early support with a profit forecast for the current quarter which might surpass estimates of some analysts.
As Hewlett-Packard Co. gears up to split into two businesses, it reported a drop in the last quarter's sales as well as profit.
On Thursday, the company's stock also dropped in late trading hours. The forecast for the October quarter announced by the computer maker also could not keep up with the market expectations. The last quarter results mirror how HP is struggling with the number of challenges it faces. By the end of this year the company will be splitting into two companies.
Shares of the newly formed Hewlett Packard Enterprise climbed as CEO, Meg Whitman reassured the investors regarding the strong demand for corporate technology in the company's inaugural earnings report. It also provided justification for her move that lead to spinning off Hewlett-Packard into two companies.
Suffering their worst financial loss in their 73 years of existence, Hewlett-Packard reportedly lost $8.9 billion in its third fiscal quarter.
