HP reports flat third quarter revenue as PC and printer sales continue to drop

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HP has just reported its third quarter earnings with a total revenue of $ 29.7 billion, down 5 percent from last year and about a billion less than last quarter. Its earnings were roughly in line with the flat numbers of previous quarters, but a change in valuation and restructuring costs mean the company is officially posting an $ 8.8 billion loss, something it announced it would be doing in early August. Beyond that, earnings per share met the numbers it announced shortly beforehand, exceeding previous expectations by a little. CEO Meg Whitman said these numbers reflected “the early stages of a multi-year turnaround,” and the outlook for the full year is on the low end of earlier estimates.

Although HP has said it will be releasing at…

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