/// HP Says It May Not Grow Sales in 2014 After All

August 21, 2013  |  All Things Digital


On Hewlett-Packard’s third quarter conference call today, CEO Meg Whitman explained her rationale behind the recent management shake-ups and many other things. She also revealed that the company no longer expects to grow revenue in 2014 as has been expected. This is the first major step back from the five-year turnaround plan outlined at last year’s meeting with securities analysts. The results were close to what Wall Street expected, but ultimately fell short. As I’m typing these words, HP shares are down about 1.5 percent in after-hours trading, mainly in response to the lighter-than-expected guidance for the remainder of the year. Earlier: 2:03 pm : The hold music has just ended and the call is about to get under way in earnest. Boilerplate on “forward-looking statements.” Meg is now speaking. Some sectors are showing progress. Overall our turnaround continues. I remain comfortable with where we’re heading. 2:07 pm : Meg is basically saying that the company is executing against the long-term turnaround plan. And also talking about some of the new product offerings. From a macroeconomic standpoint, we continue to see a weak enterprise spending environment. Sentiment is better in the U.S. China and Europe continue to be weak. Cash flow from operations was $2.7 billion

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HP Says It May Not Grow Sales in 2014 After All


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