Hewlett-Packard Co., the largest personal-computer maker, forecast fiscal second-quarter profit that exceeded analysts’ estimates, helped by cost-cutting measures and a smaller-than-projected drop in service sales.
Dell Inc., the world’s third-biggest maker of personal computers, is going private in a deal valued at $24.4 billion, undertaking the biggest leveraged buyout since the financial crisis.
Meg Whitman’s strategy for turning around Hewlett-Packard Co. failed to convince investors looking for speedier recovery and more sweeping change at a company struggling to compete in everything from personal computers to technology services.
Hewlett-Packard Co. posted a record quarterly loss and reported slumping sales for personal computers and services aimed at businesses, underscoring the turnaround challenge facing Chief Executive Officer Meg Whitman.
