SAN FRANCISCO - Coming off the biggest quarterly loss in Hewlett-Packard's history, CEO Meg Whitman braced investors for even more trouble ahead as she methodically tries to fix a wide range of long-standing problems. Those challenges will be compounded by a feeble economy that Whitman expects to weaken even more during the next year.
HP said the internal and economic turmoil would cause its earnings to fall more than 10 percent next year, a decline that hadn't been anticipated by analysts who have followed one of the world's largest, and most dysfunctional, technology companies.
Whitman delivered the disappointing forecast Wednesday at a meeting that the ailing Silicon Valley pioneer held for analysts and investors. The gathering gave Whitman the opportunity to persuade Wall Street that she has come up with a compelling strategy for turning around HP one year after being named CEO.