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HP Takes $9 Billion Hit on Autonom PDF Print E-mail
Tuesday, 20 November 2012
Earlier, Dell reported a huge dip in their net profit for the respective quarter of the year, which sends a clear signal that the global PC sales are slowing drastically, presumably because of alternative devices like the smartphone. Well, it seems that HP too isn’t doing too well either, whereby the company announced a 7 percent fall for their net profit after accounting their previous year’s performances.

And to make things even worst, the company had to undertake a gigantic write-off due to financial irregularities on one of their subsidiaries, namely Autonomy, which represents one of their largest assets. HP took over Autonomy for a whopping $11 billion last year, and judging by the financial irregularities that cropped up recently, I’m pretty sure this would definitely cast doubt over the gigantic purchase.

HP Takes $9 Billion Hit on Autonomy

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