Hewlett-Packard Co (HP) on Tuesday announced lower net earnings in its fourth fiscal quarter, with sales down for many key products.
Chief executive Meg Whitman was nonetheless upbeat about the results, which she said fit with her overall plan to turn around the troubled technology giant.
“We stabilized revenue trajectory,” she said in a release accompanying the earnings. “There is still a lot to do.”
HP, based in Palo Alto, California, reported that net earnings in the fourth quarter fell 6 percent to US$1.3 billion, or US$0.70 a share, from the same quarter last year. The company said revenue fell 2 percent, to US$28.4 billion.
Using nonstandard accounting methods popular among technology companies, HP had earnings per share of US$1.06. This accorded with the expectations of Wall Street analysts. They had expected US$1.06 a share and revenue of US$28.7 billion, according to a survey of analysts by Thomson Reuters Corp.
For the year, HP reported net income of US$5 billion, or US$2.62 a share, and revenue of US$111.5 billion, a drop of 1 percent from a year ago. The company also declared a cash dividend of US$0.16 per share of its common stock.
Last month, Whitman said that by November next year, HP would split into two companies.
One, called Hewlett-Packard Enterprise, includes computer servers and data storage equipment, along with software and services. As its name indicates, it aims to sell technology mostly to larger businesses. The other, selling personal computers and printers to both business and consumers, is to be called HP Inc.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
RECORD-BREAKING: TSMC’s net profit last quarter beat market expectations by expanding 8.9% and it was the best first-quarter profit in the chipmaker’s history Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which counts Nvidia Corp as a key customer, yesterday said that artificial intelligence (AI) server chip revenue is set to more than double this year from last year amid rising demand. The chipmaker expects the growth momentum to continue in the next five years with an annual compound growth rate of 50 percent, TSMC chief executive officer C.C. Wei (魏哲家) told investors yesterday. By 2028, AI chips’ contribution to revenue would climb to about 20 percent from a percentage in the low teens, Wei said. “Almost all the AI innovators are working with TSMC to address the
FUTURE PLANS: Although the electric vehicle market is getting more competitive, Hon Hai would stick to its goal of seizing a 5 percent share globally, Young Liu said Hon Hai Precision Industry Co (鴻海精密), a major iPhone assembler and supplier of artificial intelligence (AI) servers powered by Nvidia Corp’s chips, yesterday said it has introduced a rotating chief executive structure as part of the company’s efforts to cultivate future leaders and to enhance corporate governance. The 50-year-old contract electronics maker reported sizable revenue of NT$6.16 trillion (US$189.67 billion) last year. Hon Hai, also known as Foxconn Technology Group (富士康科技集團), has been under the control of one man almost since its inception. A rotating CEO system is a rarity among Taiwanese businesses. Hon Hai has given leaders of the company’s six