Three quarter of 2012, HP Record Losses of USD8, 9 Billion

Three quarter of 2012, HP Record Losses of USD8, 9 Billion - Hewlett-Packard (HP) reported a loss of approximately USD8, 9 billion in the third quarter of this year. It is reported as a computer company recorded expenses of approximately USD10, 8 billion for the acquisition and restructuring costs.

Proclaimed Mashable, HP revenue year-over-year decline 5 percent to USD29, 7 billion. Computer giant is obtained approximately $ 2 billion, the equivalent of $ 1 per share to the third quarter that ended in July this year.

"HP is still in the early stages and the changes we made decent progress though the wind was blowing in the opposite direction," said HP CEO Meg Whitman.

"During the quarter we took important steps to focus on strategic priorities, manage costs, drive change and improve the organization needed balance. We continue to deliver what we say will be done," he added.

Although software revenue rose 18 percent for the quarter, HP's PC division fell 10 percent in sales. As with Dell, HP reportedly suffering from stagnant sales of PCs as consumers adopt mobile computing.

Previously, HP has announced plans to merge the PC business and printer business into one sub-division in March. The company also incorporates a number of smaller divisions as part of an effort to create a more streamlined management structure.