HP Share Revenues Drop

RECESSION

Updated Apr. 21, 2017 4:06PM ET / Published Aug. 22, 2012 4:57PM ET

Kevork Djansezian / Getty Images

Looks like Meg Whitman has her work cut out for her. Hewlett-Packard Co. just scaled back its year profit forecast, as the company’s numbers continue to fall amid low-ball predictions. HP’s profit will be between $4.05 to $4.07 a share, under the analyst estimated $4.08. Shares have fallen 25 percent this year, due partially to competition from other companies like Apple, which has been booming. CEO Meg Whitman has been forced to cut 27,000 jobs over two years and cut two previous acquisitions in light of the company’s lagging profits.

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HP Share Revenues Drop

Kevork Djansezian / Getty Images