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HP Takes A $9B Hit
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HP Takes A $9B Hit
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21st November 2012, 07:22
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| [M] Reviewer  Join Date: May 2010 Location: Romania
Posts: 148,500
 |  HP Takes A $9B Hit Taking a $9 billion hit on a company you just bought for $11 billion is not the greatest way to "turn things around." Smooth move HP. It's had to take a nearly $9 billion writedown on the value of one of its biggest assets, the British software company Autonomy, following the discovery of serious accounting "improprieties." These concerns cast major doubt over the $11 billion sum that HP coughed up to purchase Autonomy last year, and have a direct impact on both these Q4 earnings and the reported earnings for 2012. http://www.hardocp.com/news/2012/11/20/hp_takes_9b_hit/ |
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