An expected recovery in technology markets has yet to take hold, according to Hewlett-Packard which on Tuesday announced a 19% annual drop in profit. After positive results and comments from other technology leaders, Mark Hurd, HP’s chief executive, said he was not ready to call an upturn although he predicted that 2010 would be better for all. For the three months to July 31, HP’s net income fell to $1.64bn from $2.03bn a year ago while sales dipped to $27.5bn from $28bn.

This entry was posted by Gwen Robinson on Wednesday, August 19th, 2009 at 4:52 and is filed under Capital markets, People. Tagged with Hewlett-Packard. Edit this entry.