HP’s Profit Falls 91%, but It Beats Expectations



                                                                            
                 HEWLETT-PACKARD COMPANY AND SUBSIDIARIES                   
                    SEGMENT / BUSINESS UNIT INFORMATION                     
                                (Unaudited)                                 
                               (In millions)                                
                                                                            
                                                              Growth rate   
                                    Three months ended            (%)       
                               ----------------------------  -------------  
                                October             October                 
                                 31,     July 31,    31,                    
                                 2011      2011      2010     Q/Q     Y/Y   
                               --------  --------  --------  -----   -----  
                                                                            
Net revenue:(a)                                                             
                                                                            
  Services                                                                  
    Infrastructure Technology                                               
     Outsourcing               $  3,886  $  3,884  $  3,851      0%      1% 
    Technology Services           2,810     2,754     2,733      2%      3% 
    Application Services          1,798     1,698     1,763      6%      2% 
    Business Process                                                        
     Outsourcing                    683       658       695      4%     (2%)
    Other                           104        95        83      9%     25% 
                               --------  --------  --------                 
      Total Services              9,281     9,089     9,125      2%      2% 
                                     --------    --------    --------                                  
                                                                                                                                                        
    Enterprise  Servers,  Storage                                                                                              
      and  Networking                                                                                                                      
        Industry  Standard  Servers          3,384          3,302          3,530            2%          (4%)
        Storage                                              1,088              976          1,044          11%            4%  
        Business  Critical  Systems              535              459              695          17%        (23%)
        HP  Networking(b)                                648              659              619          (2%)          5%  
                                                              --------    --------    --------                                  
            Total  Enterprise                                                                                                            
              Servers,  Storage  and                                                                                                  
              Networking                                  5,655          5,396          5,888            5%          (4%)
                                                              --------    --------    --------                                  
                                                                                                                                                        
    HP  Software(c)                                        976              780              763          25%          28%  
                                                              --------    --------    --------                                  
                                                                                                                                                        
    Personal  Systems  Group(d)                                                                                                  
        Notebooks                                          5,390          5,082          5,623            6%          (4%)
        Desktops                                            3,946          3,777          3,928            4%            0%  
        Workstations                                        593              547              529            8%          12%  
        Other                                                      189              186              203            2%          (7%)
                                                              --------    --------    --------                                  
            Total  Personal  Systems                                                                                                
              Group                                          10,118          9,592        10,283            5%          (2%)
                                                              --------    --------    --------                                  
                                                                                                                                                        
    Imaging  and  Printing  Group                                                                                                
        Supplies                                            4,041          4,143          4,707          (2%)      (14%)
        Commercial  Hardware                      1,596          1,292          1,541          24%            4%  
        Consumer  Hardware                              684              652              747            5%          (8%)
                                                              --------    --------    --------                                  
            Total  Imaging  and                                                                                                          
              Printing  Group                          6,321          6,087          6,995            4%        (10%)
                                                              --------    --------    --------                                  
                                                                                                                                                        
    HP  Financial  Services                          952              932              809            2%          18%  
                                                              --------    --------    --------                                  
                                                                                                                                                        
    Corporate  Investments                          (94)            266              135      (135%)    (170%)
                                                              --------    --------    --------                                  
        Total  Segments                              33,209        32,142        33,998            3%          (2%)
                                                              --------    --------    --------                                  
                                                                                                                                                        
Eliminations  of  intersegment                                                                                                
  net  revenue  and  other                      (1,087)          (953)          (720)        14%          51%  
                                                              --------    --------    --------                                  
                                                                                                                                                        
        Total  HP  Consolidated  Net                                                                                              
          Revenue                                      $  32,122    $  31,189    $  33,278            3%          (3%)
                                                              ========    ========    ========                                  
                                                                                                                                                        
                                                                                                                                                        
(a)  Certain  fiscal  2011  organizational  reclassifications  have  been  reflected
        retroactively  to  provide  improved  visibility  and  comparability.  For  each
        of  the  quarters  in  fiscal  year  2010,  the  reclassifications  resulted  in    
        the  transfer  of  revenue  among  the  Enterprise  Servers,  Storage  and              
        Networking,  Services,  HP  Software  and  Corporate  Investments  financial      
        reporting  segments.  Reclassifications  between  segments  included  the          
        transfer  of  the  networking  business  from  Corporate  Investments  to              
        Enterprise  Servers,  Storage  and  Networking,  the  transfer  of  the                  
        communications  and  media  solutions  business  from  HP  Software  to                  
        Services,  and  the  transfer  of  the  business  intelligence  business  from  HP
        Software  to  Corporate  Investments.  In  addition,  revenue  was  transferred  
        among  the  business  units  within  the  Services  and  Personal  Systems  Group  
        segments.  There  was  no  impact  on  the  previously  reported  financial            
        results  for  the  HP  Financial  Services  and  Imaging  and  Printing  Group        
        segments  or  for  the  business  units  within  the  Imaging  and  Printing  Group
        segment.                                                                                                                                
                                                                                                                                                        
(b)  The  networking  business  was  added  to  the  Enterprise  Servers,  Storage  and
        Networking  segment  in  fiscal  2011.                                                                            
                                                                                                                                                        
(c)  The  Business  Technology  Optimization  and  Other  Software  business  units    
        were  consolidated  into  a  single  business  unit  within  the  HP  Software        
        segment  in  fiscal  2011.                                                                                                  
                                                                                                                                                        
(d)  The  Handhelds  business  unit,  which  includes  devices  that  run  on  Windows  
        Mobile  software,  was  reclassified  into  the  Other  business  unit  within      
        the  Personal  Systems  Group  in  fiscal  2011.                                                            
                                                                                                                                                        
                                                                                                                                                        
 

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