Hewlett-Packard Walloped by Charge Relating to Fraud

RELATED QUOTES

SymbolPriceChange
ORCL40.24-0.06
HPQ30.52+0.51
IBM164.49+1.83

Hewlett-Packard reported quarterly earnings that beat expectations on Tuesday, but only after excluding a huge accounting charge relating to allegations of fraud tied to the acquisition of its Autonomy software unit.

The company said alleged accounting "improprieties" at the acquired company led to a one-time accounting charge of $8.8 billion.

After the earnings announcement, the company's shares (HPQ) fell in pre-market trading. (Click here to get the latest quotes for Hewlett-Packard.)

The company posted fiscal fourth-quarter earnings excluding items of $1.16 per share, down from $1.17 a share in the year-earlier period.

Revenue decreased to $29.96 billion from $32.12 billion a year ago.

Analysts had expected the company to report earnings excluding items of $1.14 a share on $30.43 billion in revenue, according to a consensus estimate from Thomson Reuters.

Hewlett-Packard said it now sees full-year guidance at $3.40 to $3.60 a share.



More From CNBC

--

Did you know that you can get stories like this on the Yahoo mail app?
Download it here.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3492-0.004-0.29%
    USDSGD=X
    1.4979+0.0019+0.13%
    EURSGD=X
    2.1063-0.0069-0.33%
    GBPSGD=X
    91.3218+0.3008+0.33%
    SGDJPY=X
    5.7457+0.0165+0.29%
    SGDHKD=X
    2.7975+0.0159+0.57%
    SGDMYR=X
    9,865.2197+2.665+0.03%
    SGDIDR=X
    4.5959+0.0153+0.33%
    SGDCNY=X
    1.0286-0.0064-0.62%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,156.50-12.80-1.09%
    GCQ15.CMX
    15.57-0.06-0.40%
    SIZ15.CMX
    61.37-1.77-2.81%
    ^XAU
    2.630.00-0.17%
    HGU15.CMX
    57.11+0.15+0.26%
    CLQ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.70+0.07
    ^FVX
    2.42+0.08
    ^TNX
    3.20+0.09
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.300.000.00%
    5WA.SI
    0.165-0.003-1.79%
    5DN.SI
    0.85+0.02+2.41%
    N03.SI
    0.745-0.010-1.32%
    N21.SI
    0.76-0.01-1.30%
    Y92.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.45+0.11+32.35%
    AWX.SI
    0.24+0.05+26.32%
    40U.SI
    0.72+0.10+16.13%
    AWN.SI
    0.22+0.02+12.24%
    TI6.SI
    0.28+0.03+12.00%
    L38.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.175-0.120-40.68%
    AZS.SI
    0.19-0.05-19.15%
    AZX.SI
    0.25-0.05-16.67%
    Y06.SI
    0.184-0.036-16.36%
    AWR.SI
    0.285-0.035-10.94%
    UV1.SI