Displaying items by tag: Autonomy

Wednesday, 21 November 2012 16:26

HP counts losses because of Autonomy

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Hewlett Packard in its fiscal fourth quarter financial report included the costs in the amount of 8.8 billion dollars due to serious accounting irregularities in its subsidiary Autonomy. With this HP admitted that they bought Autonomy based on dodgy data and false accounting reports in which the data was hidden. Overall, HP in its fourth quarter had a loss of 6.9 billion dollars, while revenues were $30 billion, which is 7% lower than a year before. Throughout fiscal 2012 HP has reported a loss of $12.7 billion on revenue of $ 120.4 billion.

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