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HP releases Q4 2011 earnings: $9.7 billion operating profit for fiscal year
It hasn't been the best year for HP, what with the demise of webOS and the uncertainty surrounding its status as a PC maker. But, Meg Whitman hasn't taken the bridge of a sunken ship, though things are far from peachy keen. HP just posted its Q4 2011 earnings, and the company cleared a healthy $9.7 billion operating profit in 2011, though that's down 10 percent from last year. Total revenue for the quarter was 32.1 billion, a three percent decline from 2010. And, for those wondering just how much the death of webOS cost the company? Turns out that dalliance took a $3.3 billion chunk out of HP's bottom line. So, the news isn't the best for you HP fans, but we'll be listening in on the earnings call later today, so stay tuned for more details. Impatient folks can find plenty more financial figures in the Source link and PR that follow. Update: CEO Meg Whitman and CFO Cathie Lesjac were on the call, and while specifics were hard to come by, they did let loose a couple hints regarding the company's future direction. Meg once again assured us all that HP and PSG are meant to be together, so the king of PC makers plans to keep its crown. Additionally, both bigwigs stressed that the company will be plowing more of its money in 2012 into R&D to foster "organic innovation" instead of buying it through outside acquisitions. Given the massive case of buyer's remorse HP had this year, that's probably a pretty good idea.
