HP Reports Fiscal 2014 Second Quarter Results

                                                                            
                  HEWLETT-PACKARD COMPANY AND SUBSIDIARIES                  
               CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS                
                                (Unaudited)                                 
                   (In millions except per share amounts)                   
                                                                            
                                                         Six months ended   
                                                             April 30,      
                                                       -------------------- 
                                                          2014       2013   
                                                       ---------  --------- 
                                                                            
Net revenue                                            $  55,463  $  55,941 
                                                                            
Costs and expenses:                                                         
  Cost of sales                                           42,440     43,084 
  Research and development                                 1,684      1,609 
  Selling, general and administrative                      6,601      6,642 
  Amortization of intangible assets                          547        700 
  Restructuring charges                                      366        538 
  Acquisition-related charges                                  6         15 
                                                       ---------  --------- 
    Total costs and expenses                              51,644     52,588 
                                                       ---------  --------- 
                                                                            
Earnings from operations                                   3,819      3,353 
                                                                                                               
Interest  and  other,  net                                                                          (337)            (372)
                                                                                                              ---------    ---------  
                                                                                                                                                        
Earnings  before  taxes                                                                            3,482            2,981  
                                                                                                                                                        
Provision  for  taxes                                                                                  (784)            (672)
                                                                                                              ---------    ---------  
                                                                                                                                                        
Net  earnings                                                                                      $      2,698    $      2,309  
                                                                                                              =========    =========  
                                                                                                                                                        
Net  earnings  per  share:                                                                                                          
    Basic                                                                                                $        1.42    $        1.19  
    Diluted                                                                                            $        1.40    $        1.18  
                                                                                                                                                        
Cash  dividends  declared  per  share                                            $        0.29    $        0.26  
                                                                                                                                                        
                                                                                                                                                        
Weighted-average  shares  used  to  compute  net  earnings                                                
  per  share:                                                                                                                                  
    Basic                                                                                                        1,898            1,944  
    Diluted                                                                                                    1,922            1,952  
                                                                                                                                                        
                                                                                                                                                        
 

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