DV Hardware - bringing you the hottest news about processors, graphics cards, Intel, AMD, NVIDIA, hardware and technology!

   Home | News submit | News Archives | Reviews | Articles | Howto's | Advertise
 
DarkVision Hardware - Daily tech news
November 16, 2018 
Main Menu
Home
Info
News archives
Articles
Howto
Reviews
 

Who's Online
There are currently 173 people online.

 

Latest Reviews
Arctic BioniX F120 and F140 fans
Jaybird Freedom 2 wireless sport headphones
Ewin Racing Champion gaming chair
Zowie P-TF Rough mousepad
Zowie FK mouse
BitFenix Ronin case
Ozone Rage ST headset
Lamptron FC-10 SE fan controller
 

Follow us
RSS
 

HP takes $8.8 billion writedown due to accounting improprieties

Posted on Tuesday, November 20 2012 @ 17:14:18 CET by


HP logo
DailyTech reports HP is still suffering from the decisions made by previous CEO Léo Apotheker. The latest hit is a $8.8 billion write-down due to "accounting improprieties" related to the aqcuisition of Autonomy.
In its earnings guidance HP announced that it expects to take a massive $8.8B USD write-down due to "accounting improprieties". The guidance reads:

The charge relates to serious accounting improprieties, disclosure failures and outright misrepresentations at Autonomy that occurred prior to HP's acquisition of Autonomy and the trading value of HP stock during the period preceding the recording of the charge. In the third quarter of fiscal 2012, HP recorded an impairment charge for the goodwill associated with its Services segment following an impairment review driven by, among other things, the trading value of HP stock during the period preceding the recording of the charge, market conditions and business trends within that segment.

Analysts had been expecting around $0.87 USD/share earnings. With the massive write-down, EPS are expected to dip to between $0.68 and $0.71 USD/share.
HP's shares fell 10 percent before the opening bell.



 



 

DV Hardware - Privacy statement
All logos and trademarks are property of their respective owner.
The comments are property of their posters, all the rest © 2002-2018 DM Media Group bvba