Published on 23rd August 2012
Hewlett-Packard on Wednesday reported sliding sales and profits in its most recent quarter as consumers continued to flock to tablet computers in a mobile revolution led by Apple. The computer behemoth delivered an $8.9 billion loss in its fiscal third quarter as the result of an $8 billion write-down for its acquisition of consulting services firm Electronic Data Systems in 2008. Revenue slipped 5% to $29.7 billion from a year ago, and net income slid 14% to $2 billion. [USA Today]