Subscribe
Business

News Summary: HP to take record quarterly loss

By The Associated Press
Published
Add Washington Examiner on Google

FINANCIAL WARNING: Hewlett-Packard Co. says it will take a massive charge against its earnings for the just-ended quarter, leading to a record loss of nearly $9 billion.

WHAT HAPPENED: The charge is the result of a writedown of the value of its services business, reflecting that the company overpaid when it bought Electronic Data Systems in 2008 for $13 billion.

Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.

Full midterm coverage.Deeper analysis.

Get unlimited access to Washington Examiner's reporting, expert analysis, and coverage of the midterm elections.

Get Unlimited Access

Cancel anytime.