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The company's net losses for its most recent quarter, which equate to USD0.67 per share, compare to losses of USD116 million, or USD0.04 per share, for the same quarter last year.
Last year's figures include both HP's results and Compaq's results, following the completion a merger between the two earlier this year. Much of the company's USD3 billion charge relates to this merger, with USD1.6 billion classified as a restructuring charge and USD1.4 billion in other merger-related charges.
Revenues for the newly combined business came to USD16.5 billion, down from USD18.2 billion in the previous quarter and USD18.6 billion in the same quarter of the previous year.
On a pro-forma basis, which excludes the USD3 billion in charges, the business reported earnings of USD420 million, or earnings per share (EPS) of USD0.14, which was in line with analysts' expectations. This compares to USD320 million in pro-forma earning in the same period last year, or EPS of USD0.11.
Looking forward, HP predicted EPS of USD17.4 billion in revenues and USD0.22 in earnings per share on a pro-forma basis for the fourth quarter, which is in line with analysts' expectations.
The computer giant, who after the merger has scope and size rivalling that of IBM, said that it has met all of its quarterly integration milestones and that its second half goals were on track.
"Throughout our first 100 days, we've kept our eye on the ball," said Carly Fiorina, HP chairman and chief executive officer. "We're hitting all our integration milestones and are on track to meet our second-half targets. The top 50 contracts we won in the quarter totalled USD2 billion in new long-term revenue."
Fiorina added that while HP has more work to do, and is faced with a tough economy and a major integration, it had accomplished a great deal. In fact the business reiterated that the merger would eventually result in up to 15,000 global job losses, which will in turn save USD460 million annually. HP said that 4,740 people had left the organisation in July and that 1,700 had left in August and claims that it is on target to reduce the workforce by 10,000 by the end of October.
HP's job losses in Ireland are expected to amount to around 2 percent of the company's workforce here, or approximately 80 people. Currently HP employs over 4,000 in Ireland.
Other important numbers in the firm's results showed that its printing and imaging business had increased its revenues with the printer supply sector growing 19 percent year-over-year. The PC sector was down 19 percent year-over-year, the company said, and consumer PC revenue was down 20 percent year-over-year, while commercial PC revenue declined 15 percent year-over-year.
Enterprise computing also suffered and HP said it is planning more cutbacks in that area. Meanwhile, services revenue, which includes customer support, managed services, consulting and integration saw revenue for decline 7 percent year-over-year and 3 percent sequentially to USD3 billion.
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