HP Takes Huge Quarterly Earnings Hit

Hewlett-Packard (HPQ) delivered a sobering earnings report Wednesday, as accounting charges forced it to declare the biggest quarterly loss ($8.9 billion) in its history. And with sales down in all its major divisions, CEO Meg Whitman warned of tough times ahead.

The Palo Alto company disclosed last month that it would be taking a massive loss because of one-time charges, including a $9.2 billion write-down.