HP Reports Fiscal 2014 Second Quarter Results

                                                                            
                  HEWLETT-PACKARD COMPANY AND SUBSIDIARIES                  
        ADJUSTMENTS TO GAAP NET EARNINGS, EARNINGS FROM OPERATIONS,         
            OPERATING MARGIN AND DILUTED NET EARNINGS PER SHARE             
                                (Unaudited)                                 
                   (In millions except per share amounts)                   
                                                                            
                   Three    Diluted    Three    Diluted    Three   Diluted  
                  months      net     months      net     months      net   
                  ended    earnings   ended    earnings   ended    earnings 
                   April      per     January     per      April      per   
                 30, 2014    share   31, 2014    share   30, 2013    share  
                 --------  --------  --------  --------  --------  -------- 
                                                                            
GAAP net                                                                    
 earnings        $  1,273  $   0.66  $  1,425  $   0.74  $  1,077  $   0.55 
                                                                            
Non-GAAP                                                                    
 adjustments:                                                               
  Amortization                                                              
   of intangible                                                            
   assets             264      0.14       283      0.15       350      0.17 
  Restructuring                                                             
   charges            252      0.13       114      0.06       408      0.21 
  Acquisition-                                                              
   related                                                                  
   charges              3         -         3         -        11      0.01 
  Adjustments                                                                                                  
      for  taxes                  (101)        (0.05)            (83)        (0.05)          (148)        (0.07)
                                  --------    --------    --------    --------    --------    --------  
Non-GAAP  net                                                                                                                                
  earnings                $    1,691    $      0.88    $    1,742    $      0.90    $    1,698    $      0.87  
                                  ========    ========    ========    ========    ========    ========  
                                                                                                                                                        
                                                                                                                                                        
GAAP  earnings                                                                                                                              
  from  operations  $    1,822                        $    1,997                        $    1,601                      
                                                                                                                                                        
Non-GAAP                                                                                                                                        
  adjustments:                                                                                                                              
    Amortization                                                                                                                            
      of  intangible                                                                                                                        
      assets                          264                                  283                                  350                      
    Restructuring                                                                                                                          
      charges                        252                                  114                                  408                      
    Acquisition-                                                                                                                            
      related                                                                                                                                    
      charges                            3                                      3                                    11                      
                                  --------                        --------                        --------                      
Non-GAAP                                                                                                                                        
  earnings  from                                                                                                                            
  operations            $    2,341                        $    2,397                        $    2,370                      
                                  ========                        ========                        ========                      
                                                                                                                                                        
GAAP  operating                                                                                                                            
  margin                                  7%                                    7%                                    6%                    
Non-GAAP                                                                                                                                        
  adjustments                        2%                                    2%                                    3%                    
                                  --------                        --------                        --------                      
Non-GAAP                                                                                                                                        
  operating                                                                                                                                    
  margin                                  9%                                    9%                                    9%                    
                                  ========                        ========                        ========                      
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                    HEWLETT-PACKARD  COMPANY  AND  SUBSIDIARIES                                    
                ADJUSTMENTS  TO  GAAP  NET  EARNINGS,  EARNINGS  FROM  OPERATIONS,                  
                        OPERATING  MARGIN  AND  DILUTED  NET  EARNINGS  PER  SHARE                          
                                                                (Unaudited)                                                                  
                                      (In  millions  except  per  share  amounts)                                      
                                                                                                                                                        
                                                                        Six                                      Six                              
                                                                      months        Diluted          months        Diluted    
                                                                      ended              net              ended              net        
                                                                  April  30,      earnings    April  30,    earnings    
                                                                        2014        per  share          2013        per  share  
                                                                  ---------    ---------    ---------    ---------  
                                                                                                                                                        
GAAP  net  earnings                                $      2,698    $        1.40    $      2,309    $        1.18  
                                                                                                                                                        
Non-GAAP  adjustments:                                                                                                              
    Amortization  of  intangible                                                                                                
      assets                                                            547              0.28                700              0.35  
    Restructuring  charges                                366              0.19                538              0.28  
    Acquisition-related  charges                        6                    -                  15              0.01  
    Adjustments  for  taxes                              (184)          (0.08)            (259)          (0.13)
                                                                  ---------    ---------    ---------    ---------  
Non-GAAP  net  earnings                        $      3,433    $        1.79    $      3,303    $        1.69  
                                                                  =========    =========    =========    =========  
                                                                                                                                                        
                                                                                                                                                        
GAAP  earnings  from  operations        $      3,819                          $      3,353                        
                                                                                                                                                        
Non-GAAP  adjustments:                                                                                                              
    Amortization  of  intangible                                                                                                
      assets                                                            547                                      700                        
    Restructuring  charges                                366                                      538                        
    Acquisition-related  charges                        6                                        15                        
                                                                  ---------                          ---------                        
Non-GAAP  earnings  from                                                                                                            
  operations                                            $      4,738                          $      4,606                        
                                                                  =========                          =========                        
                                                                                                                                                        
GAAP  operating  margin                                        7%                                        6%                      
Non-GAAP  adjustments                                          2%                                        2%                      
                                                                  ---------                          ---------                        
Non-GAAP  operating  margin                                9%                                        8%                      
                                                                  =========                          =========                        
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                    HEWLETT-PACKARD  COMPANY  AND  SUBSIDIARIES                                    
                                        CONSOLIDATED  CONDENSED  BALANCE  SHEETS                                      
                                                                (In  millions)                                                              
                                                                                                                                                        
                                                                                                                            As  of                  
                                                                                                          -----------------------
                                                                                                            April  30,    October  31,
                                                                                                                  2014                2013      
                                                                                                          -----------  -----------
                                                                                                          (Unaudited)                        
ASSETS                                                                                                                                            
                                                                                                                                                        
Current  assets:                                                                                                                          
    Cash  and  cash  equivalents                                                    $        15,096  $        12,163
    Accounts  receivable                                                                          14,288            15,876
    Financing  receivables                                                                        3,112              3,144
    Inventory                                                                                                5,840              6,046
    Other  current  assets                                                                        11,547            13,135
                                                                                                          -----------  -----------
                                                                                                                                                        
        Total  current  assets                                                                    49,883            50,364
                                                                                                          -----------  -----------
                                                                                                                                                        
Property,  plant  and  equipment                                                          11,350            11,463
                                                                                                                                                        
Long-term  financing  receivables  and  other  assets                      9,043              9,556
                                                                                                                                                        
Goodwill  and  intangible  assets                                                        33,696            34,293
                                                                                                          -----------  -----------
                                                                                                                                                        
Total  assets                                                                                  $      103,972  $      105,676
                                                                                                          ===========  ===========
                                                                                                                                                        
                                                                                                                                                        
LIABILITIES  AND  STOCKHOLDERS'  EQUITY                                                                                
                                                                                                                                                        
Current  liabilities:                                                                                                                
    Notes  payable  and  short-term  borrowings                        $          5,396  $          5,979
    Accounts  payable                                                                                13,521            14,019
    Employee  compensation  and  benefits                                              3,662              4,436
    Taxes  on  earnings                                                                                1,263              1,203
    Deferred  revenue                                                                                  6,416              6,477
    Other  accrued  liabilities                                                              13,022            13,407
                                                                                                          -----------  -----------
                                                                                                                                                        
        Total  current  liabilities                                                          43,280            45,521
                                                                                                          -----------  -----------
                                                                                                                                                        
Long-term  debt                                                                                        17,190            16,608
                                                                                                                                                        
Other  liabilities                                                                                  14,920            15,891
                                                                                                                                                        
Stockholders'  equity:                                                                                                              
    HP  stockholders'  equity                                                                  28,185            27,269
    Non-controlling  interests                                                                    397                  387
                                                                                                          -----------  -----------
                                                                                                                                                        
        Total  stockholders'  equity                                                        28,582            27,656
                                                                                                          -----------  -----------
                                                                                                                                                        
Total  liabilities  and  stockholders'  equity                      $      103,972  $      105,676
                                                                                                          ===========  ===========
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                    HEWLETT-PACKARD  COMPANY  AND  SUBSIDIARIES                                    
                            CONSOLIDATED  CONDENSED  STATEMENTS  OF  CASH  FLOWS                              
                                                                (Unaudited)                                                                  
                                                              (In  millions)                                                                
                                                                                                                                                        
                                                                                          Three  months            Six  months      
                                                                                                ended                        ended            
                                                                                        April  30,  2014      April  30,  2014  
                                                                                      ---------------    ---------------  
Cash  flows  from  operating  activities:                                                                              
    Net  earnings                                                          $                  1,273    $                  2,698  
    Adjustments  to  reconcile  net  earnings  to                                                                    
      net  cash  provided  by  operating                                                                                      
      activities:                                                                                                                            
        Depreciation  and  amortization                                        1,087                        2,204  
        Stock-based  compensation  expense                                      130                            300  
        Provision  for  doubtful  accounts  and                                                                          
          inventory                                                                                    55                            112  
        Restructuring  charges                                                            252                            366  
        Deferred  taxes  on  earnings                                                  (99)                          (90)
        Excess  tax  benefit  from  stock-based                                                                          
          compensation                                                                              (6)                          (33)
        Other,  net                                                                                    47                              14  
                                                                                                                                                        
        Changes  in  operating  assets  and                                                                                  
          liabilities  (net  of  acquisitions):                                                                          
            Accounts  receivable                                                          (801)                      1,590  
            Financing  receivables                                                        (42)                          254  
            Inventory                                                                                126                            107  
            Accounts  payable                                                                  765                          (400)
            Taxes  on  earnings                                                                (17)                          153  
            Restructuring                                                                      (300)                        (681)
            Other  assets  and  liabilities                                          525                          (609)
                                                                                      ---------------    ---------------  
                Net  cash  provided  by  operating                                                                            
                  activities                                                                    2,995                        5,985  
                                                                                      ---------------    ---------------  
                                                                                                                                                        
Cash  flows  from  investing  activities:                                                                              
        Investment  in  property,  plant  and                                                                              
          equipment                                                                                (840)                    (1,837)
        Proceeds  from  sale  of  property,  plant                                                                      
          and  equipment                                                                          120                            570  
        Purchases  of  available-for-sale                                                                                  
          securities  and  other  investments                                  (316)                        (451)
        Proceeds  from  sale  of  available-for-                                                                        
          sale  securities  and  other  investments                            79                            544  
        Payments  made  in  connection  with                                                                                
          business  acquisitions                                                          (20)                          (20)
                                                                                      ---------------    ---------------  
            Net  cash  used  in  investing                                                                                        
              activities                                                                          (977)                    (1,194)
                                                                                      ---------------    ---------------  
                                                                                                                                                        
Cash  flows  from  financing  activities:                                                                              
        Issuance  of  commercial  paper  and  notes                                                                    
          payable,  net                                                                              58                              60  
        Issuance  of  debt                                                                          -                        2,005  
        Payment  of  debt                                                                  (2,070)                    (2,115)
        Issuance  of  common  stock  under                                                                                    
          employee  stock  plans                                                              48                            131  
        Repurchase  of  common  stock                                                (831)                    (1,396)
        Excess  tax  benefit  from  stock-based                                                                          
          compensation                                                                                6                              33  
        Cash  dividends  paid                                                              (298)                        (576)
                                                                                      ---------------    ---------------  
            Net  cash  used  in  financing                                                                                        
              activities                                                                      (3,087)                    (1,858)
                                                                                      ---------------    ---------------  
                                                                                                                                                        
(Decrease)  increase  in  cash  and  cash                                                                                
  equivalents                                                                                (1,069)                      2,933  
Cash  and  cash  equivalents  at  beginning  of                                                                      
  period                                                                                          16,165                      12,163  
                                                                                      ---------------    ---------------  
Cash  and  cash  equivalents  at  end  of  period  $                15,096    $                15,096  
                                                                                      ===============    ===============  
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                    HEWLETT-PACKARD  COMPANY  AND  SUBSIDIARIES                                    
                                                        SEGMENT  INFORMATION                                                          
                                                                (Unaudited)                                                                  
                                                              (In  millions)                                                                
                                                                                                                                                        
                                                                                                Three  months  ended                    
                                                                            -------------------------------------  
                                                                              April  30,      January  31,      April  30,    
                                                                                    2014                  2014                  2013        
                                                                            -----------    -----------    -----------  
Net  revenue:(a)                                                                                                                          
                                                                                                                                                        
    Personal  Systems                                        $          8,176    $          8,530    $          7,610  
    Printing                                                                    5,834                5,815                6,094  
                                                                            -----------    -----------    -----------  
        Total  Printing  and  Personal                                                                                          
          Systems  Group                                                  14,010              14,345              13,704  
    Enterprise  Group                                                    6,657                6,993                6,794  
    Enterprise  Services                                              5,702                5,595                6,133  
    Software                                                                        971                    916                    967  
    HP  Financial  Services                                              867                    870                    881  
    Corporate  Investments                                                  6                    288                      10  
                                                                            -----------    -----------    -----------  
        Total  segments                                                  28,213              29,007              28,489  
    Elimination  of  intersegment  net                                                                                      
      revenue  and  other                                                  (904)                (853)                (907)
                                                                            -----------    -----------    -----------  
                                                                                                                                                        
        Total  HP  consolidated  net  revenue  $        27,309    $        28,154    $        27,582  
                                                                            ===========    ===========    ===========  
                                                                                                                                                        
Earnings  before  taxes:(a)                                                                                                      
                                                                                                                                                        
    Personal  Systems                                        $              290    $              279    $              244  
    Printing                                                                    1,140                    979                    970  
                                                                            -----------    -----------    -----------  
        Total  Printing  and  Personal                                                                                          
          Systems  Group                                                    1,430                1,258                1,214  
    Enterprise  Group                                                        961                1,006                1,074  
    Enterprise  Services                                                  144                      57                    156  
    Software                                                                        186                    145                    180  
    HP  Financial  Services                                                99                    101                      97  
    Corporate  Investments                                              (98)                  121                    (75)
                                                                            -----------    -----------    -----------  
        Total  segment  earnings  from                                                                                          
          operations                                                          2,722                2,688                2,646  
                                                                                                                                                        
    Corporate  and  unallocated  costs  and                                                                              
      eliminations                                                            (251)                (121)                (169)
    Stock-based  compensation  expense                      (130)                (170)                (107)
    Amortization  of  intangible  assets                    (264)                (283)                (350)
    Restructuring  charges                                            (252)                (114)                (408)
    Acquisition-related  charges                                    (3)                    (3)                  (11)
    Interest  and  other,  net                                        (174)                (163)                (193)
                                                                            -----------    -----------    -----------  
                                                                                                                                                        
        Total  HP  consolidated  earnings                                                                                    
          before  taxes                                          $          1,648    $          1,834    $          1,408  
                                                                            ===========    ===========    ===========  
                                                                                                                                                        
(a)    Effective  at  the  beginning  of  its  first  quarter  of  fiscal  2014,  HP          
          implemented  certain  organizational  changes  to  align  its  segment                
          financial  reporting  more  closely  with  its  current  business  structure.    
          These  organizational  changes  include  (i)  transferring  the  HP  Exstream    
          business  from  the  Commercial  Hardware  business  unit  within  the  Printing
          segment  to  the  Software  segment;  (ii)  transferring  the  Personal  Systems
          trade  and  warranty  support  business  from  the  Technology  Services              
          business  unit  within  the  Enterprise  Group  segment  to  the  Other  business
          unit  within  the  Personal  Systems  segment;  (iii)  transferring  the  spare  
          and  replacement  parts  business  supporting  the  Personal  Systems  and          
          Printing  segments  from  the  Technology  Services  business  unit  within  the
          Enterprise  Group  segment  to  the  Other  business  unit  within  the  Personal
          Systems  segment  and  the  Commercial  Hardware  business  unit  within  the      
          Printing  segment,  respectively;  and  (iv)  transferring  certain  cloud-      
          related  incubation  activities  previously  reported  in  Corporate  and          
          unallocated  costs  and  eliminations  and  in  the  Enterprise  Group  segment  
          to  the  Corporate  Investments  segment.  In  addition,  HP  transferred            
          certain  intrasegment  eliminations  from  the  Enterprise  Services  segment  
          and  the  Enterprise  Group  segment  to  corporate  intersegment  revenue          
          eliminations.                                                                                                                    
                                                                                                                                                        
          HP  reflected  these  changes  to  its  segment  information  in  prior                  
          reporting  periods  on  an  as-if  basis,  which  resulted  in  the  transfer  of  
          revenue  among  the  Personal  Systems,  Printing,  the  Enterprise  Group,        
          Enterprise  Services  and  Software  segments.  These  changes  also  resulted  
          in  the  transfer  of  operating  profit  among  the  Personal  Systems,                
          Printing,  the  Enterprise  Group,  Software  and  Corporate  Investments          
          segments.  These  changes  had  no  impact  on  HP's  previously  reported            
          consolidated  net  revenue,  earnings  from  operations,  net  earnings  or  net
          earnings  per  share.                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                    HEWLETT-PACKARD  COMPANY  AND  SUBSIDIARIES                                    
                                                        SEGMENT  INFORMATION                                                          
                                                                (Unaudited)                                                                  
                                                              (In  millions)                                                                
                                                                                                                                                        
                                                                                                              Six  months  ended          
                                                                                                                      April  30,                
                                                                                                      ------------------------  
                                                                                                              2014                  2013        
                                                                                                      -----------    -----------  
Net  revenue:(a)                                                                                                                          
                                                                                                                                                        
    Personal  Systems                                                                  $        16,706    $        15,842  
    Printing                                                                                            11,649              12,040  
                                                                                                      -----------    -----------  
        Total  Printing  and  Personal  Systems  Group                      28,355              27,882  
    Enterprise  Group                                                                            13,650              13,742  
    Enterprise  Services                                                                      11,297              12,171  
    Software                                                                                              1,887                1,918  
    HP  Financial  Services                                                                    1,737                1,838  
    Corporate  Investments                                                                        294                      14  
                                                                                                      -----------    -----------  
        Total  segments                                                                            57,220              57,565  
    Elimination  of  intersegment  net  revenue  and                                                              
      other                                                                                                (1,757)            (1,624)
                                                                                                      -----------    -----------  
                                                                                                                                                        
        Total  HP  consolidated  net  revenue                            $        55,463    $        55,941  
                                                                                                      ===========    ===========  
                                                                                                                                                        
Earnings  before  taxes:(a)                                                                                                      
                                                                                                                                                        
    Personal  Systems                                                                  $              569    $              477  
    Printing                                                                                              2,119                1,937  
                                                                                                      -----------    -----------  
        Total  Printing  and  Personal  Systems  Group                        2,688                2,414  
    Enterprise  Group                                                                              1,967                2,144  
    Enterprise  Services                                                                            201                    232  
    Software                                                                                                  331                    335  
    HP  Financial  Services                                                                        200                    198  
    Corporate  Investments                                                                          23                  (148)
                                                                                                      -----------    -----------  
        Total  segment  earnings  from  operations                              5,410                5,175  
                                                                                                                                                        
    Corporate  and  unallocated  costs  and  eliminations                (372)                (278)
    Stock-based  compensation  expense                                                (300)                (291)
    Amortization  of  intangible  assets                                              (547)                (700)
    Restructuring  charges                                                                      (366)                (538)
    Acquisition-related  charges                                                              (6)                  (15)
    Interest  and  other,  net                                                                  (337)                (372)
                                                                                                      -----------    -----------  
                                                                                                                                                        
        Total  HP  consolidated  earnings  before  taxes        $          3,482    $          2,981  
                                                                                                      ===========    ===========  
                                                                                                                                                        
(a)    Effective  at  the  beginning  of  its  first  quarter  of  fiscal  2014,  HP          
          implemented  certain  organizational  changes  to  align  its  segment                
          financial  reporting  more  closely  with  its  current  business  structure.    
          These  organizational  changes  include  (i)  transferring  the  HP  Exstream    
          business  from  the  Commercial  Hardware  business  unit  within  the  Printing
          segment  to  the  Software  segment;  (ii)  transferring  the  Personal  Systems
          trade  and  warranty  support  business  from  the  Technology  Services              
          business  unit  within  the  Enterprise  Group  segment  to  the  Other  business
          unit  within  the  Personal  Systems  segment;  (iii)  transferring  the  spare  
          and  replacement  parts  business  supporting  the  Personal  Systems  and          
          Printing  segments  from  the  Technology  Services  business  unit  within  the
          Enterprise  Group  segment  to  the  Other  business  unit  within  the  Personal
          Systems  segment  and  the  Commercial  Hardware  business  unit  within  the      
          Printing  segment,  respectively;  and  (iv)  transferring  certain  cloud-      
          related  incubation  activities  previously  reported  in  Corporate  and          
          unallocated  costs  and  eliminations  and  in  the  Enterprise  Group  segment  
          to  the  Corporate  Investments  segment.  In  addition,  HP  transferred            
          certain  intrasegment  eliminations  from  the  Enterprise  Services  segment  
          and  the  Enterprise  Group  segment  to  corporate  intersegment  revenue          
          eliminations.                                                                                                                    
                                                                                                                                                        
          HP  reflected  these  changes  to  its  segment  information  in  prior                  
          reporting  periods  on  an  as-if  basis,  which  resulted  in  the  transfer  of  
          revenue  among  the  Personal  Systems,  Printing,  the  Enterprise  Group,        
          Enterprise  Services  and  Software  segments.  These  changes  also  resulted  
          in  the  transfer  of  operating  profit  among  the  Personal  Systems,                
          Printing,  the  Enterprise  Group,  Software  and  Corporate  Investments          
          segments.  These  changes  had  no  impact  on  HP's  previously  reported            
          consolidated  net  revenue,  earnings  from  operations,  net  earnings  or  net
          earnings  per  share.                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                  HEWLETT-PACKARD  COMPANY  AND  SUBSIDIARIES                                      
                                        SEGMENT  /  BUSINESS  UNIT  INFORMATION                                          
                                                                (Unaudited)                                                                  
                                                              (In  millions)                                                                
                                                                                                                                                        
                                                                                                                            Growth  rate      
                                                                Three  months  ended                                (%)              
                                            -------------------------------------    -------------    
                                              April  30,      January  31,      April  30,                                    
                                                    2014                  2014                  2013            Q/Q          Y/Y      
                                            -----------    -----------    -----------    -----      -----    
Net  revenue:(a)                                                                                                                          
                                                                                                                                                        
    Printing  and                                                                                                                            
      Personal  Systems                                                                                                                  
      Group                                                                                                                                        
        Personal  Systems                                                                                                                
            Notebooks              $          3,977    $          4,335    $          3,718          (8%)          7%  
            Desktops                            3,343                3,274                3,103            2%            8%  
            Workstations                        548                    533                    521            3%            5%  
            Other                                      308                    388                    268        (21%)        15%  
                                            -----------    -----------    -----------                                  
                Total                                                                                                                              
                  Personal                                                                                                                      
                  Systems                        8,176                8,530                7,610          (4%)          7%  
                                            -----------    -----------    -----------                                  
                                                                                                                                                        
        Printing                                                                                                                                
            Supplies                            3,866                3,795                4,122            2%          (6%)
            Commercial                                                                                                                        
              Hardware                          1,402                1,347                1,411            4%          (1%)
            Consumer                                                                                                                            
              Hardware                              566                    673                    561        (16%)          1%  
                                            -----------    -----------    -----------                                  
                Total                                                                                                                              
                  Printing                      5,834                5,815                6,094            0%          (4%)
                                            -----------    -----------    -----------                                  
                    Total                                                                                                                          
                      Printing                                                                                                                  
                      and                                                                                                                            
                      Personal                                                                                                                  
                      Systems                                                                                                                    
                      Group                      14,010              14,345              13,704          (2%)          2%  
                                            -----------    -----------    -----------                                  
                                                                                                                                                        
        Enterprise  Group                                                                                                                
        Industry  Standard                                                                                                              
          Servers                                2,829                3,178                2,806        (11%)          1%  
        Technology                                                                                                                            
          Services                              2,132                2,123                2,247            0%          (5%)
        Storage                                      808                    834                    857          (3%)        (6%)
        Networking                                658                    630                    618            4%            6%  
        Business  Critical                                                                                                              
          Systems                                    230                    228                    266            1%        (14%)
                                            -----------    -----------    -----------                                  
                Total                                                                                                                              
                  Enterprise                                                                                                                  
                  Group                            6,657                6,993                6,794          (5%)        (2%)
                                            -----------    -----------    -----------                                  
                                                                                                                                                        
        Enterprise                                                                                                                            
          Services                                                                                                                              
            Infrastructure                                                                                                                
              Technology                                                                                                                      
              Outsourcing                    3,597                3,501                3,855            3%          (7%)
            Application  and                                                                                                              
              Business                                                                                                                          
              Services                          2,105                2,094                2,278            1%          (8%)
                                            -----------    -----------    -----------                                  
                Total                                                                                                                              
                  Enterprise                                                                                                                  
                  Services                      5,702                5,595                6,133            2%          (7%)
                                            -----------    -----------    -----------                                  
                                                                                                                                                        
        Software                                    971                    916                    967            6%            0%  
                                            -----------    -----------    -----------                                  
                                                                                                                                                        
        HP  Financial                                                                                                                        
          Services                                  867                    870                    881            0%          (2%)
                                            -----------    -----------    -----------                                  
                                                                                                                                                        
        Corporate                                                                                                                              
          Investments                                6                    288                      10        (98%)      (40%)
                                            -----------    -----------    -----------                                  
                Total                                                                                                                              
                  segments                    28,213              29,007              28,489          (3%)        (1%)
                                            -----------    -----------    -----------                                  
                                                                                                                                                        
        Elimination  of                                                                                                                    
          intersegment  net                                                                                                              
          revenue  and                                                                                                                        
          other                                      (904)                (853)                (907)          6%            0%  
                                            -----------    -----------    -----------                                  
                                                                                                                                                        
        Total  HP                                                                                                                                
          consolidated  net                                                                                                              
          revenue                    $        27,309    $        28,154    $        27,582          (3%)        (1%)
                                            ===========    ===========    ===========                                  
                                                                                                                                                        
(a)    Effective  at  the  beginning  of  its  first  quarter  of  fiscal  2014,  HP          
          implemented  certain  organizational  changes  to  align  its  segment                
          financial  reporting  more  closely  with  its  current  business  structure.    
          These  organizational  changes  include  (i)  transferring  the  HP  Exstream    
          business  from  the  Commercial  Hardware  business  unit  within  the  Printing
          segment  to  the  Software  segment;  (ii)  transferring  the  Personal  Systems
          trade  and  warranty  support  business  from  the  Technology  Services              
          business  unit  within  the  Enterprise  Group  segment  to  the  Other  business
          unit  within  the  Personal  Systems  segment;  (iii)  transferring  the  spare  
          and  replacement  parts  business  supporting  the  Personal  Systems  and          
          Printing  segments  from  the  Technology  Services  business  unit  within  the
          Enterprise  Group  segment  to  the  Other  business  unit  within  the  Personal
          Systems  segment  and  the  Commercial  Hardware  business  unit  within  the      
          Printing  segment,  respectively;  and  (iv)  transferring  certain  cloud-      
          related  incubation  activities  previously  reported  in  Corporate  and          
          unallocated  costs  and  eliminations  and  in  the  Enterprise  Group  segment  
          to  the  Corporate  Investments  segment.  In  addition,  HP  transferred            
          certain  intrasegment  eliminations  from  the  Enterprise  Services  segment  
          and  the  Enterprise  Group  segment  to  corporate  intersegment  revenue          
          eliminations.                                                                                                                    
                                                                                                                                                        
          HP  reflected  these  changes  to  its  segment  information  in  prior                  
          reporting  periods  on  an  as-if  basis,  which  resulted  in  the  transfer  of  
          revenue  among  the  Personal  Systems,  Printing,  the  Enterprise  Group,        
          Enterprise  Services  and  Software  segments.  These  changes  had  no  impact  
          on  HP's  previously  reported  consolidated  net  revenue,  earnings  from        
          operations,  net  earnings  or  net  earnings  per  share.                                        
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                    HEWLETT-PACKARD  COMPANY  AND  SUBSIDIARIES                                    
                                        SEGMENT  /  BUSINESS  UNIT  INFORMATION                                          
                                                                (Unaudited)                                                                  
                                                              (In  millions)                                                                
                                                                                                                                                        
                                                                                                              Six  months  ended          
                                                                                                                      April  30,                
                                                                                                      ------------------------  
                                                                                                              2014                  2013        
                                                                                                      -----------    -----------  
Net  revenue:(a)                                                                                                                          
                                                                                                                                                        
    Printing  and  Personal  Systems  Group                                                                              
        Personal  Systems                                                                                                                
            Notebooks                                                                        $          8,312    $          7,846  
            Desktops                                                                                      6,617                6,424  
            Workstations                                                                              1,081                1,056  
            Other                                                                                                696                    516  
                                                                                                      -----------    -----------  
                Total  Personal  Systems                                                    16,706              15,842  
                                                                                                      -----------    -----------  
                                                                                                                                                        
    Printing                                                                                                                                    
        Supplies                                                                                          7,661                8,015  
        Commercial  Hardware                                                                    2,749                2,785  
        Consumer  Hardware                                                                        1,239                1,240  
                                                                                                      -----------    -----------  
            Total  Printing                                                                        11,649              12,040  
                                                                                                      -----------    -----------  
                Total  Printing  and  Personal  Systems  Group              28,355              27,882  
                                                                                                      -----------    -----------  
                                                                                                                                                        
    Enterprise  Group                                                                                                                    
        Industry  Standard  Servers                                                        6,007                5,800  
        Technology  Services                                                                    4,255                4,454  
        Storage                                                                                            1,642                1,690  
        Networking                                                                                      1,288                1,226  
        Business  Critical  Systems                                                            458                    572  
                                                                                                      -----------    -----------  
            Total  Enterprise  Group                                                        13,650              13,742  
                                                                                                      -----------    -----------  
                                                                                                                                                        
    Enterprise  Services                                                                                                              
        Infrastructure  Technology  Outsourcing                                7,098                7,710  
        Application  and  Business  Services                                        4,199                4,461  
                                                                                                      -----------    -----------  
            Total  Enterprise  Services                                                  11,297              12,171  
                                                                                                      -----------    -----------  
                                                                                                                                                        
    Software                                                                                              1,887                1,918  
                                                                                                      -----------    -----------  
                                                                                                                                                        
    HP  Financial  Services                                                                    1,737                1,838  
                                                                                                      -----------    -----------  
                                                                                                                                                        
    Corporate  Investments                                                                        294                      14  
                                                                                                      -----------    -----------  
            Total  segments                                                                        57,220              57,565  
                                                                                                      -----------    -----------  
                                                                                                                                                        
    Elimination  of  intersegment  net  revenue  and                                                              
      other                                                                                                (1,757)            (1,624)
                                                                                                      -----------    -----------  
                                                                                                                                                        
    Total  HP  consolidated  net  revenue                                $        55,463    $        55,941  
                                                                                                      ===========    ===========  
                                                                                                                                                        
(a)    Effective  at  the  beginning  of  its  first  quarter  of  fiscal  2014,  HP          
          implemented  certain  organizational  changes  to  align  its  segment                
          financial  reporting  more  closely  with  its  current  business  structure.    
          These  organizational  changes  include  (i)  transferring  the  HP  Exstream    
          business  from  the  Commercial  Hardware  business  unit  within  the  Printing
          segment  to  the  Software  segment;  (ii)  transferring  the  Personal  Systems
          trade  and  warranty  support  business  from  the  Technology  Services              
          business  unit  within  the  Enterprise  Group  segment  to  the  Other  business
          unit  within  the  Personal  Systems  segment;  (iii)  transferring  the  spare  
          and  replacement  parts  business  supporting  the  Personal  Systems  and          
          Printing  segments  from  the  Technology  Services  business  unit  within  the
          Enterprise  Group  segment  to  the  Other  usiness  unit  within  the  Personal  
          Systems  segment  and  the  Commercial  Hardware  business  unit  within  the      
          Printing  segment,  respectively;  and  (iv)  transferring  certain  cloud-      
          related  incubation  activities  previously  reported  in  Corporate  and          
          unallocated  costs  and  eliminations  and  in  the  Enterprise  Group  segment  
          to  the  Corporate  Investments  segment.  In  addition,  HP  transferred            
          certain  intrasegment  eliminations  from  the  Enterprise  Services  segment  
          and  the  Enterprise  Group  segment  to  corporate  intersegment  revenue          
          eliminations.                                                                                                                    
                                                                                                                                                        
          HP  reflected  these  changes  to  its  segment  information  in  prior                  
          reporting  periods  on  an  as-if  basis,  which  resulted  in  the  transfer  of  
          revenue  among  the  Personal  Systems,  Printing,  the  Enterprise  Group,        
          Enterprise  Services  and  Software  segments.  These  changes  had  no  impact  
          on  HP's  previously  reported  consolidated  net  revenue,  earnings  from        
          operations,  net  earnings  or  net  earnings  per  share.                                        
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                    HEWLETT-PACKARD  COMPANY  AND  SUBSIDIARIES                                    
                                      SEGMENT  OPERATING  MARGIN  SUMMARY  DATA                                        
                                                                (Unaudited)                                                                  
                                                                                                                                                        
                                                                                                                            Change  in          
                                                                                      Three  months      Operating  Margin    
                                                                                              ended                        (pts)              
                                                                                      ------------    ------------------  
                                                                                          April  30,                                            
                                                                                              2014                  Q/Q              Y/Y      
                                                                                      ------------    --------    --------  
                                                                                                                                                        
Segment  operating  margin:(a)                                                                                                
    Personal  Systems                                                                    3.5%    0.2  pts      0.3  pts  
    Printing                                                                                  19.5%    2.7  pts      3.6  pts  
        Printing  and  Personal  Systems  Group                        10.2%    1.4  pts      1.3  pts  
                                                                                                                                                        
    Enterprise  Group                                                                  14.4%                -    (1.4  pts)
    Enterprise  Services                                                              2.5%    1.5  pts                  -  
    Software                                                                                  19.2%    3.4  pts      0.6  pts  
    HP  Financial  Services                                                        11.4%  (0.2  pts)    0.4  pts  
    Corporate  Investments  (b)                                                    NM                NM                NM  
        Total  segments                                                                    9.6%    0.3  pts      0.3  pts  
                                                                                                                                                        
(a)    Effective  at  the  beginning  of  its  first  quarter  of  fiscal  2014,  HP          
          implemented  certain  organizational  changes  to  align  its  segment                
          financial  reporting  more  closely  with  its  current  business  structure.    
          These  organizational  changes  include  (i)  transferring  the  HP  Exstream    
          business  from  the  Commercial  Hardware  business  unit  within  the  Printing
          segment  to  the  Software  segment;  (ii)  transferring  the  Personal  Systems
          trade  and  warranty  support  business  from  the  Technology  Services              
          business  unit  within  the  Enterprise  Group  segment  to  the  Other  business
          unit  within  the  Personal  Systems  segment;  (iii)  transferring  the  spare  
          and  replacement  parts  business  supporting  the  Personal  Systems  and          
          Printing  segments  from  the  Technology  Services  business  unit  within  the
          Enterprise  Group  segment  to  the  Other  business  unit  within  the  Personal
          Systems  segment  and  the  Commercial  Hardware  business  unit  within  the      
          Printing  segment,  respectively;  and  (iv)  transferring  certain  cloud-      
          related  incubation  activities  previously  reported  in  Corporate  and          
          unallocated  costs  and  eliminations  and  in  the  Enterprise  Group  segment  
          to  the  Corporate  Investments  segment.  In  addition,  HP  transferred            
          certain  intrasegment  eliminations  from  the  Enterprise  Services  segment  
          and  the  Enterprise  Group  segment  to  corporate  intersegment  revenue          
          eliminations.                                                                                                                    
                                                                                                                                                        
          HP  reflected  these  changes  to  its  segment  information  in  prior                  
          reporting  periods  on  an  as-if  basis,  which  resulted  in  the  transfer  of  
          revenue  among  the  Personal  Systems,  Printing,  the  Enterprise  Group,        
          Enterprise  Services  and  Software  segments.  These  changes  also  resulted  
          in  the  transfer  of  operating  profit  among  the  Personal  Systems,                
          Printing,  the  Enterprise  Group,  Software  and  Corporate  Investments          
          segments.  These  changes  had  no  impact  on  HP's  previously  reported            
          consolidated  net  revenue,  earnings  from  operations,  net  earnings  or  net
          earnings  per  share.                                                                                                        
                                                                                                                                                        
(b)    "NM"  represents  not  meaningful.                                                                                
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                    HEWLETT-PACKARD  COMPANY  AND  SUBSIDIARIES                                    
                                CALCULATION  OF  DILUTED  NET  EARNINGS  PER  SHARE                              
                                                                  (Unaudited)                                                                
                                      (In  millions  except  per  share  amounts)                                      
                                                                                                                                                        
                                                                                                    Three  months  ended                
                                                                                  -----------------------------------
                                                                                    April  30,    January  31,    April  30,  
                                                                                          2014                2014                2013      
                                                                                  -----------  -----------  -----------
                                                                                                                                                        
Numerator:                                                                                                                                    
    GAAP  net  earnings                                            $          1,273  $          1,425  $          1,077
                                                                                  ===========  ===========  ===========
    Non-GAAP  net  earnings                                    $          1,691  $          1,742  $          1,698
                                                                                  ===========  ===========  ===========
                                                                                                                                                        
Denominator:                                                                                                                                
    Weighted-average  number  of  shares                                                                                  
      outstanding  during  the  reporting                                                                                  
      period                                                                            1,890              1,907              1,935
    Dilutive  effect  of  employee  stock                                                                                  
      plans(a)                                                                              26                    28                    12
                                                                                  -----------  -----------  -----------
        Weighted-average  number  of  shares                                                                              
          used  to  compute  diluted  net                                                                                        
          earnings  per  share                                                1,916              1,935              1,947
                                                                                  ===========  ===========  ===========
                                                                                                                                                        
GAAP  diluted  net  earnings  per  share            $            0.66  $            0.74  $            0.55
                                                                                  ===========  ===========  ===========
Non-GAAP  diluted  net  earnings  per  share    $            0.88  $            0.90  $            0.87
                                                                                  ===========  ===========  ===========
                                                                                                                                                        
(a)    Includes  any  dilutive  effect  of  outstanding  stock  options,  performance-
          based  restricted  stock  units,  restricted  stock  units  and  restricted        
          stock.                                                                                                                                  
                                                                                                                                                        
                                                                                                                                                        
 

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