Hewlett-Packard on Wednesday reported its third-quarter financials for the period ending July 31, and the results weren’t pretty. The company posted lower revenue on nearly all fronts: PCs, printers, enterprise servers, and services. It also posted a company-record write off of $ 10.8 billion against earnings and it cut its full-year performance forecast to the low end of its original guidance for fiscal year 2012.

Seeing no quick fixes, HP CEO Meg Whitman has prescribed a long list of methodical remedies designed to return the company to profitability and growth. During a conference call with equity analysts late Wednesday, Whitman reviewed progress on what she repeatedly described as a multi-year turnaround. The question is whether Wall Street and HP’s board will be patient enough to give Whitman the time her strategy demands.
Network Computing