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    Meg Whitman's First Full Quarter at HP Didn't Go so Well

    By Rebecca Greenfield | The Atlantic Wire – Wed, Feb 22, 2012
    Meg Whitman's First Full Quarter at HP Didn't Go so Well

    Meg Whitman has yet to prove herself, as Hewlett-Packard's Q1 earnings missed expectations, reporting first quarter net revenue of $30.0 billion, down 7 percent from the prior-year period. Analysts didn't expect HP to do a complete turnaround since Whitman took over the struggling company, predicting a 5 percent decline in revenue. But Whitman even missed that mark. Since taking over, Whitman has made some pivotal decisions for the company, deciding to stay in the PC business and kind-of, sort-of giving up Web OS, a troubled operating system it bought from Palm, which it used in its failed tablets. These big decisions haven't delivered, possibly having more to do with the shrinking popularity of PCs than anything else.

    RELATED: HP Has the Perfect Funny Last Man Standing


    Some good news, though, since Whitman took over: HP's stock has steadily risen over the last few months. Today's earnings report hasn't done too much damage yet apparently: 

    RELATED: Lesson for HP: It's Best to Meet Your New CEO Before Hiring Him


     

    5 comments

    • Chad
      Chad  •  3 mths ago
      And yet she has an AMAZING GOLDEN PARACHUTE. Go figure. She gets to screw over the payroll of employees who actually work at yet another company and walk away will tens of millions of dollars and all sort of wonderful stock options. Stupid board of directors at HP should all be removed.
    • bill
      bill  •  Earth, Texas  •  3 mths ago
      Let me know what HP decides it wants to be when it grows up, under its latest leader, and then maybe I'll invest in them again. What a loser of an investment they have been for a decade and half now. Return this once great company to its roots, that were based in its employees and leave the outsourcing, offshoring, company take over, facility closing nonsense out of it. Hiring Hurd made HP the most uncreative, least innovative tech company in the World. The man is ill and proved it in his leadership and personal decision making.
      • Basil
        Basil 3 mths ago
        It's going to be more of the same for awhile. They have yet to distinguish themselves in anything but the printer market in the new millennium, and there they are the high-ink-price leaders. Not something to crow about. Meg is just another CEO; desperate to make some progress, but too afraid of risk to make any REAL progress or create any excitement at all. The success of the company depends on its' products and their marketing, and both are well behind the rest of the industry. WebOS could have helped them, but they squandered that chance and sold off the product to huge raves, at less than half the cost to make the #$%$ things. Poor products and so-so leaders are not what HP needs. They used to be THE tech company, but Apple and others have eclipsed them many times over. You'll notice a Mac laptops lack the 18 LEDs that the HP engineers feel are necessary in a battery operated device! Bad decisions like this plague their offerings.Sun Microsystems was once great too, until Oracle let that technology rot in-house and chased away all the developers, community, and employees. The bigger the company, the less exciting, or so it seems. Too slow, too adverse to risk, too old.
    • JOHN
      JOHN  •  3 mths ago
      yo, one quarter is not long enough to judge her. obummer still blames bush after 3+ years.
    • Basil
      Basil  •  Torquay, United Kingdom  •  3 mths ago
      HP would have to do something crazy; like make all ink carts free for life, before they get any buzz or make any inroads into new markets. They could, but won't. THAT'S why they are never going to do anything interesting. Just ho-hum laptops and servers that the Compaq merger helped bring them. Nothing else stands out, and the world is changing. Fast. They must be too big to fail. ;)
    • Timothy
      Timothy  •  Tokyo, Japan  •  3 mths ago
      They may be on a downhill slide, however, they do make a good quality computer.
     Post a comment
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