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Thursday
Feb242011

Hewlett-Packard Reports Dismal Growth

Photo Courtesy - Ralph Orlowski/Getty Images(PALO ALTO, Calif.) -- Hewlett-Packard Co. released a statement Tuesday showing disappointing growth in the face of poor consumer demand.

The Palo Alto-based computer giant reported a $1.21 per share profit, which disappointed investers hoping for $1.26. HP stock fell 9.6. percent at the New York Stock Exchange Tuesday afternoon in spite of reported 3.5 percent growth this year.

The report comes as an unfortunate close to Leo Apotheker's first quarter as chief executive officer. Apotheker is slated to present a renewed vision for the company at a strategy conference in San Francisco on March 14.

Apotheker took the helm of the company from Mark Hurd, whose resignation last August was prompted by a sexual harrassment scandal.

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