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HP plots its recovery

Patrick Thibodeau | Aug. 24, 2012
In its 73 years, Hewlett-Packard has had bad quarters, but perhaps none like the one it posted Wednesday. Its $8.9 billion loss was huge, but there was little drama about it.

Nonetheless, while the long-term prospects for Itanium are limited, Del Prete said its installed base will continue buying upgrades, and he doesn't see the questions about the Itanium platform affecting HP's x86 server business.

HP "is one of the lowest cost producers of x86 servers, and that business is going to continue to be a relatively decent margin business for the company," Del Prete said.

HP's software revenue was up 18% this quarter, and Whitman emphasized the product integration as key reason for it. This was illustrated, in particular, with its acquisitions last year of Autonomy, an information management software firm, for $10.3 billion, and Vertica, a data warehouse and analytics vendor, also acquired last year, for an undisclosed sum.

HP's cloud systems business is expanding, and Whitman said it now has 750 unique customers.



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