Reuters: Technology News: HP posts huge quarterly loss

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HP posts huge quarterly loss Aug 22nd 2012, 20:17 Tweet Share this Email Print Related News Dell's outlook disappoints as PC market falters 11:14am EDT Exclusive: Dell brings on ex-HP executive to spur global services Tue, Aug 21 2012 HP braces for huge loss after $8 billion EDS writedown Wed, Aug 8 2012 Analysis & Opinion Yahoo investors counting on Mayer burning cash Shale writedown tarnishes BHP's street cred A HP Invent logo is pictured in front of Hewlett-Packard international offices in Meyrin near Geneva August 4, 2009. Credit: Reuters/Denis Balibouse SAN FRANCISCO | Wed Aug 22, 2012 4:17pm EDT SAN FRANCISCO (Reuters) - Hewlett-Packard Co reported on Wednesday a loss of $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 $29.7 billion. The company took a charge of $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 $30.1 billion, according to Thomson Reuters I/B/E/S. (Reporting By Poornima Gupta; Editing by Tim Dobbyn) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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