Hewlett Packard Co. this week reported an earnings decline of 94 percent amid write-downs and slow consumer PC sales.
For the period ending Oct. 31, HP recorded a net income of $239 million, down from $2.54 billion a year earlier.
PC sales fell 1.6 percent, with notebook revenue down 4.1 percent and the printer business falling 10 percent.
The company’s enterprise business held a four percent revenue decline.
Additionally, HP wrote off $3.1 billion due to costs related to webOS, an operating system acquired from the purchase of Palm Inc. in 2010.
Part of the write-down included a $142 million loss from the clearance of the HP TouchPad tablet, which was discontinued to $99 from $499 in July due to slow sales.