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    HP posts huge quarterly loss

    Hewlett-Packard Co reported on Wednesday a loss of USD 8.85 billion after a massive writedown of the value of its services business, most of which was related to its purchase of EDS.

    August 23, 2012 / 11:14 IST

    Hewlett-Packard Co reported on Wednesday a loss of USD 8.85 billion after a massive writedown of the value of its services business, most of which was related to its purchase of EDS.

    The world's largest technology company by sales said net revenue in the fiscal third quarter fell to USD 29.7 billion. The company took a charge of USD 10.8 billion, mostly related to the writedown of its services business, which it had announced earlier this month.

    Analysts, on average, had predicted revenue of USD $30.1 billion, according to Thomson Reuters I/B/E/S.

    first published: Aug 23, 2012 07:55 am

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