HP is struggling and it seems like things will only continue to get worse during the next fiscal year.
At an annual presentation to investors, the CEO Meg whitman said the following:
“My belief is that the single biggest challenge facing Hewlett-Packard has been changes in CEOs and executive leadership, which has caused multiple inconsistent strategic choices, and frankly some significant executional miscues,”.
For 2013, the company forecast overall earnings, excluding restructuring charges and other items, at between $3.40 to $3.60 a share in fiscal 2013. That’s well below the average forecast by Wall Street analyst of $4.18, according to Thomson Reuters I/B/E/S.
Ms Whitman is expecting the company to recover in 2014.
HP has a very troubled history with chief executives. Who knows if she’ll be there to see whether that happens.