NEW YORK (AP) — Hewlett-Packard says it will take a massive charge against its earnings for the latest quarter, but that results excluding charges were better than expected.
The computer company also says the head of Enterprise Services, its second-largest division, is leaving.
HP shares are up 3.3 percent in morning trading. The shares are still close to their lowest levels in eight years.
The Palo Alto, Calif., company says it will take an $8 billion charge for the reduced value of Enterprise Services in the quarter that ended in July.
Excluding charges, HP expects to report fiscal third-quarter earnings of $1 per share, up from a previous range of 94 cents to 97 cents. Analysts expected earnings of 97 cents per share.