Tag Archives: MegWhitman

Former Microsoft Chief Software Architect Ray Ozzie joins HP’s board of directors

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Ray Ozzie may have left Microsoft back in October 2010, having directly focused a lot of the company's recent efforts on cloud connectivity, but he's now got a new job. Ozzie will be joining HP CEO Meg Whitman on the company's board. Increasing the board size to twelve, he will join James Skinner, currently the chairman of Walgreens and former CEO of McDonald's and former CEO of Liberty Media Robert Bennett. The influential former MS software chief, who succeeded Bill Gates in the position back in 2006, will join groups looking into human resources, compensation and governance -- some pretty important spheres. HP isn't done, however, and will apparently be hunting down yet more directors in the next few months.

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HP Q1 2013 earnings: $1.2 billion in profit on revenue of $28.4 billion

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HP's stock is climbing in after hours trading from news of the company's quarterly financial results. The Palo Alto firm has posted a profit of $1.2 billion for the first quarter, which is based on revenues of $28.4 billion. While the results fared better than HP's previous expectations, both profit and revenue have fallen year-over-year for the Silicon Valley mainstay, down 16 percent and six percent, respectively. With respect to the company's divisions, personal systems, printing, enterprise, services and software have each taken a hit from the previous year, with HP's financial services segment being the only unit to show growth (despite the fact that financing volume is also down). Beyond the sagging numbers, Meg Whitman is offering reason for optimism to investors, saying the company will bring "a number of new programs and disruptive innovations to market in the coming quarters, and we expect the benefits from our restructuring will accelerate through fiscal 2013." For the complete breakdown of HP's financial health, just hit up the source link.

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Source: Marketwatch

Meg Whitman says HP has to ‘offer a smartphone’

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Meg Whitman says HP has to 'offer a smartphone'

HP bet big on the smartphone world when it purchased Palm, but the company fell flat on its face and webOS failed to take off. The reasons for the failure are numerous, but the new CEO Meg Whitman is smart enough to realize it can't simply abandon the market entirely. In an interview with Fox Business, she said that HP "ultimately has to offer a smartphone." Though she was willing to acknowledge that the company is "working on this," she would not divulge too many details about its mobile plans. Whether or not webOS may rise from the ashes as a largely community-powered platform remains to be seen, but we wouldn't be shocked to see HP pivot towards its longtime partner Microsoft, and release a Windows Phone 8 device. Perhaps the best glimmer of hope for the former Palm system was Meg's focus on developing markets. She rightly points out that, in some parts of the world, the first and only "computer" a person may own is a smartphone -- and reaching that audience is essential to Hewlett-Packard's success. Going back to the webOS well (with its open source support) would allow the company to save a few dollars on the cost of a new handset. Check out the video after the break for the full quotes in context.

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Meg Whitman says HP has to 'offer a smartphone' originally appeared on Engadget on Fri, 14 Sep 2012 09:43:00 EDT. Please see our terms for use of feeds.

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HP exceeds Q3 expectations: rakes $29.7 billion in revenue, still posts a loss

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HP announces Q3 earningsTo say that HP is in a bit of a transitional period would probably be an understatement. As expected, the $8 billion hit it took over the EDS purchase severely impacted its bottom line. While revenue was down year-over-year to $29.7 billion, that five percent drop equated to a 568 percent decline in income as the company posted a loss of $8.9 billion. If not for the combined $10.8 billion in charges it was forced to absorb this quarter, the company's net-income would have stood at $2 billion -- which would have been a significant improvement over Q2's $1.6 billion in profit. While such a staggering loss does appear bad, the non-GAAP results should give investors some hope, as the merger and layoff related charges are a one-time deal. Still, the outlook continues to be grim at the Personal Systems Group which has seen revenue drop 10 percent over the last year. The lone bright spot in the company's line up appears to be its software division, where revenue has grown 18 percent year-over-year. CEO Meg Whitman issued a statement alongside the Q3 2012 earnings report looking to assuage nervous investors' fears. "HP is still in the early stages of a multi-year turnaround, and we're making decent progress despite the headwinds," she asserts and assures that better days lie ahead. For more financial fun, check out the PR after the break and all the tables and charts you can handle at the source.

Continue reading HP exceeds Q3 expectations: rakes $29.7 billion in revenue, still posts a loss

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HP exceeds Q3 expectations: rakes $29.7 billion in revenue, still posts a loss originally appeared on Engadget on Wed, 22 Aug 2012 16:38:00 EDT. Please see our terms for use of feeds.

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HP exceeds Q3 expectations: rakes $29.7 billion in revenue, still posts a loss

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HP announces Q3 earningsTo say that HP is in a bit of a transitional period would probably be an understatement. As expected, the $8 billion hit it took over the EDS purchase severely impacted its bottom line. While revenue was down year-over-year to $29.7 billion, that five percent drop equated to a 568 percent decline in income as the company posted a loss of $8.9 billion. If not for the combined $10.8 billion in charges it was forced to absorb this quarter, the company's net-income would have stood at $2 billion -- which would have been a significant improvement over Q2's $1.6 billion in profit. While such a staggering loss does appear bad, the non-GAAP results should give investors some hope, as the merger and layoff related charges are a one-time deal. Still, the outlook continues to be grim at the Personal Systems Group which has seen revenue drop 10 percent over the last year. The lone bright spot in the company's line up appears to be its software division, where revenue has grown 18 percent year-over-year. CEO Meg Whitman issued a statement alongside the Q3 2012 earnings report looking to assuage nervous investors' fears. "HP is still in the early stages of a multi-year turnaround, and we're making decent progress despite the headwinds," she asserts and assures that better days lie ahead. For more financial fun, check out the PR after the break and all the tables and charts you can handle at the source.

Continue reading HP exceeds Q3 expectations: rakes $29.7 billion in revenue, still posts a loss

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HP exceeds Q3 expectations: rakes $29.7 billion in revenue, still posts a loss originally appeared on Engadget on Wed, 22 Aug 2012 16:38:00 EDT. Please see our terms for use of feeds.

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HP will reportedly announce restructuring plan next week, up to 30,000 job cuts

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It looks like HP could be in store for another wave of big changes. According to a pair of reports out today (backing up a report from Business Insider yesterday), HP CEO Meg Whitman will announce a new restructuring plan on the company's earnings call next Wednesday -- a plan that will entail some significant job cuts. Bloomberg pegs those cuts in the neighborhood of 25,000, while All Things D says they could include as many as 30,000 jobs, noting also that the number is still a "moving target." To put that in perspective, the company currently employs some 320,000 people worldwide. Of those cuts, 10 to 15,000 are said to come from HP's enterprise services group, and the company is also said to be offering early retirement packages to some 5,000 employees. That restructuring plan will apparently include more than just job cuts, though, with Whitman said to be pushing a "cut and reinvest" approach that will apply across the company, according to ATD.

HP will reportedly announce restructuring plan next week, up to 30,000 job cuts originally appeared on Engadget on Thu, 17 May 2012 15:01:00 EDT. Please see our terms for use of feeds.

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Meg Whitman: HP’s engineering is very much still alive, aims to be cloud computing leader

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HP sure knows how to wrap up a party -- by letting its CEO make a surprise appearance right at the end of the show. Joining Todd Bradley on the stage, Meg Whitman reassured the audience with her company's "commitment to fantastic products," and that "engineering is very much still alive from HP." In regards to the recent merger of HP's Imaging and Printing Group with Personal Systems Group (which changed this week's show entirely), Meg -- who's a big believer in focusing tasks -- is confident that Todd's new team will deliver a united brand and a unified design language, thus making the PC business stronger with the best customer experience and customer support.

Additionally, Meg seems to be getting along just fine with the board, saying that they are deeply engaged to plot a brighter future for HP. Under Meg's supervision, HP is doubling down on R&D and incubation, as well as aiming to be a leader in cloud computing (she claims that HP is already the largest provider of private cloud services) and security by bringing a full host of benefits that the competitors lack. When asked about HP's mobile and tablet strategy, Todd skirted around by emphasizing the happy partnership between HP and Microsoft on tablets, but he also said that markets evolve and change all the time, and that his company's well aware of the differences between the needs of enterprises or small businesses and the needs of consumers. So in other words, stay tuned.

Meg Whitman: HP's engineering is very much still alive, aims to be cloud computing leader originally appeared on Engadget on Thu, 10 May 2012 05:17:00 EDT. Please see our terms for use of feeds.

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