Hewlett net tops Wall St. expectations

Article Abstract:

HP reports a 2nd qtr 1993 net income of $347 million, up by 7.4 percent from $323 million for the same quarter in 1992. Record revenues totalled $5.1 billion for the quarter, 21 percent more than the 1992 2nd qtr figure of $4.2 billion. HP's spectacular performance surpassed Wall Street expectations, especially because the computer industry itself is in financial stagnation. HP's stock rose $5.125, closing on May 18, 1993 at $84.75. The company also reports that orders for the 2nd qtr also was a record-breaker at $5.4 billion. The strongest growth was registered by its computer, electronic components and medical products, with computer orders rising by 33 percent.

Computer peripheral equipment, not elsewhere classified, Profits, Profit, Stock, Financial Report, Second Quarter

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Hewlett-Packard to Lay Off 14,500 in Turnaround Effort

Article Abstract:

As part of restructuring plan initiated by newly appointed chief executive officer Mark V. Hurd, Hewlet-Packard Co. with layoff about 10 percent of its staff over the next year and a half. Most of the job losses with be in support positions.

United States, Financial management, Organizational history, Personnel administration, Human resource management, Microcomputer industry, Company restructuring/company reorganization, Reorganization and restructuring, Company personnel management, Layoffs, Company financing, Company organization, Layoff, HPQ

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