Hewlett-Packard Results Disappoint Investors
Feb 22nd 2011 6:30PM
Updated Feb 22nd 2011 6:42PM
Hewlett-Packard's new CEO Leo Apotheker delivered some disappointing news to Wall Street on Tuesday after his first full quarter with the technology company. Revenue growth, a persistent worry for companies of HP's size, will be slower this year than many analysts had envisioned. It was an unusual letdown that raised questions about the momentum of the company's acquisition-fueled transformation into a computing clearinghouse.
HP shares fell more than 10% in extended trading after the company reported its fiscal first-quarter results.