The setback isn't a surprise.
Hewlett-Packard Co. had telegraphed the news earlier when it disclosed plans to take an $8 billion charge to reflect the shrinking value of Electronic Data Systems, a technology consulting service that it bought for $13 billion in 2008.
The fiscal third-quarter loss announced Wednesday translates to $4.49 per share.
It's by far the biggest quarterly setback in HP's 73-year history. The company earned $1.9 billion, or 93 cents per share, at the same time last year.
HP's revenue sank 5 per cent from last year to $29.7 billion. That was about $500 million below analyst projections.Suggest a correction