HP Reports Third Quarter 2012 Results

                  HEWLETT-PACKARD COMPANY AND SUBSIDIARIES                  
              CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS               
                                (Unaudited)                                 
                               (In millions)                                
                                                                            
                                                                            
                                                 Three months   Nine months 
                                                     ended         ended    
                                                   July 31,      July 31,   
                                                     2012          2012     
                                                 ------------  ------------ 
Cash flows from operating activities:                                       
  Net loss                                       $     (8,857) $     (5,796)
  Adjustments to reconcile net earnings to net                              
   cash provided by operating activities:                                   
    Depreciation and amortization                       1,306         3,894 
    Impairment of goodwill and purchased                                    
     intangible assets                                  9,188         9,188 
    Stock-based compensation expense                      150           494 
    Provision for bad debt and inventory                  107           254 
    Restructuring charges                               1,795         1,888 
    Deferred taxes on earnings                           (535)         (690)
    Excess tax benefit from stock-based                                     
     compensation                                           -           (12)
    Other, net                                             90           330 
                                                                            
    Changes in operating assets and liabilities:                            
    Accounts and financing receivables                    956         2,435 
    Inventory                                               (91)                      (2)
        Accounts  payable                                                                          (345)              (2,196)
        Taxes  on  earnings                                                                            14                      (40)
        Restructuring                                                                                (198)                  (472)
        Other  assets  and  liabilities                                                  (734)              (2,763)
                                                                                                  ------------    ------------  
            Net  cash  provided  by  operating  activities                  2,846                  6,512  
                                                                                                  ------------    ------------  
                                                                                                                                                        
Cash  flows  from  investing  activities:                                                                              
    Investment  in  property,  plant  and  equipment                        (870)              (2,833)
    Proceeds  from  sale  of  property,  plant  and                                                                  
      equipment                                                                                              97                      321  
    Purchases  of  available-for-sale  securities  and                                                        
      other  investments                                                                          (228)                  (793)
    Maturities  and  sales  of  available-for-sale                                                                
      securities  and  other  investments                                              170                      516  
    Payments  made  in  connection  with  business                                                                  
      acquisitions,  net  of  cash  acquired                                              -                    (141)
    Proceeds  from  business  divestiture,  net                                      6                        87  
                                                                                                  ------------    ------------  
    Net  cash  used  in  investing  activities                                    (825)              (2,843)
                                                                                                  ------------    ------------  
                                                                                                                                                        
Cash  flows  from  financing  activities:                                                                              
    Issuance  (repayment)  of  commercial  paper  and                                                            
      notes  payable,  net                                                                          239                (2,553)
    Issuance  of  debt                                                                                  48                  5,100  
    Payment  of  debt                                                                                (561)              (3,222)
    Issuance  of  common  stock  under  employee  stock                                                          
      plans                                                                                                      76                      710  
    Repurchase  of  common  stock                                                          (365)              (1,495)
    Excess  tax  benefit  from  stock-based                                                                              
      compensation                                                                                          -                        12  
    Cash  dividends  paid                                                                        (260)                  (755)
                                                                                                  ------------    ------------  
    Net  cash  used  in  financing  activities                                    (823)              (2,203)
                                                                                                  ------------    ------------  
                                                                                                                                                        
Increase  in  cash  and  cash  equivalents                                      1,198                  1,466  
Cash  and  cash  equivalents  at  beginning  of  period                8,311                  8,043  
                                                                                                  ------------    ------------  
Cash  and  cash  equivalents  at  end  of  period              $            9,509    $            9,509  
                                                                                                  ============    ============  
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                    HEWLETT-PACKARD  COMPANY  AND  SUBSIDIARIES                                    
                                                        SEGMENT  INFORMATION                                                          
                                                                (Unaudited)                                                                  
                                                              (In  millions)                                                                
                                                                                                                                                        
                                                                                                  Three  months  ended                  
                                                                                  ----------------------------------  
                                                                                    July  31,        April  30,      July  31,    
                                                                                        2012                2012                2011        
                                                                                  ----------    ----------    ----------  
                                                                                                                                                        
Net  revenue:(a)                                                                                                                          
                                                                                                                                                        
    Personal  Systems  Group                                  $        8,620    $        9,452    $        9,592  
    Services                                                                        8,754              8,831              9,030  
    Imaging  and  Printing  Group                                    6,017              6,132              6,183  
    Enterprise  Servers,  Storage  and                                                                                      
      Networking                                                                  5,143              5,211              5,348  
    Software                                                                            973                  970                  822  
    HP  Financial  Services                                                  935                  968                  932  
    Corporate  Investments                                                    19                    18                  235  
                                                                                  ----------    ----------    ----------  
        Total  segments                                                      30,461            31,582            32,142  
    Eliminations  of  intersegment  net                                                                                    
      revenue  and  other                                                      (792)              (889)              (953)
                                                                                  ----------    ----------    ----------  
                                                                                                                                                        
        Total  HP  consolidated  net  revenue        $      29,669    $      30,693    $      31,189  
                                                                                  ==========    ==========    ==========  
                                                                                                                                                        
Earnings  before  taxes:(a)                                                                                                      
                                                                                                                                                        
    Personal  Systems  Group                                  $            409    $            524    $            567  
    Services                                                                            959                  997              1,240  
    Imaging  and  Printing  Group                                        949                  808                  879  
    Enterprise  Servers,  Storage  and                                                                                      
      Networking                                                                      562                  585                  690  
    Software                                                                            175                  172                  160  
    HP  Financial  Services                                                    97                    96                    88  
    Corporate  Investments                                                  (58)                (49)              (334)
                                                                                  ----------    ----------    ----------  
        Total  segment  earnings  from                                                                                          
          operations                                                              3,093              3,133              3,290  
                                                                                                                                                        
    Corporate  and  unallocated  costs  and                                                                              
      eliminations                                                                (314)              (203)              (114)
    Unallocated  costs  related  to  stock-                                                                              
      based  compensation  expense                                    (150)              (168)              (130)
    Amortization  of  purchased  intangible                                                                            
      assets                                                                            (476)              (470)              (358)
    Impairment  of  goodwill  and  purchased                                                                            
      intangible  assets                                                  (9,188)                    -                      -  
    Restructuring  charges                                            (1,795)                (53)              (150)
    Acquisition-related  charges                                        (3)                (17)                (18)
    Interest  and  other,  net                                            (224)              (243)              (121)
                                                                                  ----------    ----------    ----------  
                                                                                                                                                        
        Total  HP  consolidated  (loss)  earnings                                                                      
          before  taxes                                                $      (9,057)  $        1,979    $        2,399  
                                                                                  ==========    ==========    ==========  
                                                                                                                                                        
(a)    Certain  fiscal  2012  organizational  reclassifications  have  been                  
          reflected  retroactively  to  provide  improved  visibility  and                          
          comparability.  For  each  of  the  quarters  in  fiscal  year  2011,  the              
          reclassifications  resulted  in  the  transfer  of  revenue  and  operating        
          profit  among  the  Services,  Imaging  and  Printing  Group,  Enterprise            
          Servers,  Storage  and  Networking,  Software  and  Corporate  Investments        
          financial  reporting  segments.  Reclassifications  between  segments              
          included  the  transfer  of  the  Indigo  Scitex  support  and  the  LaserJet  and
          enterprise  solutions  trade  support  businesses  from  Services  to  the          
          Imaging  and  Printing  Group,  the  transfer  of  the  business  intelligence    
          services  business  from  Corporate  Investments  to  Services,  the  transfer  
          of  the  information  management  services  business  from  Software  to              
          Services,  and  the  transfer  of  the  TippingPoint  business  from  Enterprise
          Servers,  Storage  and  Networking  to  Software.  There  was  no  impact  on  the
          previously  reported  financial  results  for  the  Personal  Systems  Group      
          and  HP  Financial  Services  segments.                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                    HEWLETT-PACKARD  COMPANY  AND  SUBSIDIARIES                                    
                                                        SEGMENT  INFORMATION                                                          
                                                                (Unaudited)                                                                  
                                                              (In  millions)                                                                
                                                                                                                                                        
                                                                                                                Nine  months  ended      
                                                                                                                        July  31,                
                                                                                                          ----------------------  
                                                                                                                2012                2011        
                                                                                                          ----------    ----------  
                                                                                                                                                        
Net  revenue:(a)                                                                                                                          
                                                                                                                                                        
    Personal  Systems  Group                                                          $      26,945    $      29,456  
    Services                                                                                              26,211            26,475  
    Imaging  and  Printing  Group                                                          18,407            19,757  
    Enterprise  Servers,  Storage  and  Networking                          15,372            16,463  
    Software                                                                                                2,889              2,344  
    HP  Financial  Services                                                                      2,853              2,644  
    Corporate  Investments                                                                            95                  339  
                                                                                                          ----------    ----------  
        Total  Segments                                                                              92,772            97,478  
    Eliminations  of  intersegment  net  revenue  and  other          (2,374)          (2,355)
                                                                                                          ----------    ----------  
                                                                                                                                                        
        Total  HP  consolidated  net  revenue                                $      90,398    $      95,123  
                                                                                                          ==========    ==========  
                                                                                                                                                        
Earnings  before  taxes:(a)                                                                                                      
                                                                                                                                                        
    Personal  Systems  Group                                                          $        1,397    $        1,772  
    Services                                                                                                2,861              3,993  
    Imaging  and  Printing  Group                                                            2,518              3,134  
    Enterprise  Servers,  Storage  and  Networking                            1,709              2,280  
    Software                                                                                                    509                  438  
    HP  Financial  Services                                                                          284                  250  
    Corporate  Investments                                                                        (155)              (711)
                                                                                                          ----------    ----------  
        Total  segment  earnings  from  operations                                9,123            11,156  
                                                                                                                                                        
    Corporate  and  unallocated  costs  and  eliminations                  (670)              (118)
    Unallocated  costs  related  to  stock-based                                                                    
      compensation  expense                                                                        (492)              (426)
    Amortization  of  purchased  intangible  assets                        (1,412)          (1,196)
    Impairment  of  goodwill  and  purchased  intangible                                                      
      assets                                                                                                (9,188)                    -  
    Restructuring  charges                                                                    (1,888)              (466)
    Acquisition-related  charges                                                              (42)                (68)
    Interest  and  other,  net                                                                    (688)              (294)
                                                                                                          ----------    ----------  
                                                                                                                                                        
        Total  HP  consolidated  (loss)  earnings  before                                                        
          taxes                                                                                      $      (5,257)  $        8,588  
                                                                                                          ==========    ==========  
                                                                                                                                                        
(a)    Certain  fiscal  2012  organizational  reclassifications  have  been                  
          reflected  retroactively  to  provide  improved  visibility  and                          
          comparability.  For  each  of  the  quarters  in  fiscal  year  2011,  the              
          reclassifications  resulted  in  the  transfer  of  revenue  and  operating        
          profit  among  the  Services,  Imaging  and  Printing  Group,  Enterprise            
          Servers,  Storage  and  Networking,  Software  and  Corporate  Investments        
          financial  reporting  segments.  Reclassifications  between  segments              
          included  the  transfer  of  the  Indigo  Scitex  support  and  the  LaserJet  and
          enterprise  solutions  trade  support  businesses  from  Services  to  the          
          Imaging  and  Printing  Group,  the  transfer  of  the  business  intelligence    
          services  business  from  Corporate  Investments  to  Services,  the  transfer  
          of  the  information  management  services  business  from  Software  to              
          Services,  and  the  transfer  of  the  TippingPoint  business  from  Enterprise
          Servers,  Storage  and  Networking  to  Software.  There  was  no  impact  on  the
          previously  reported  financial  results  for  the  Personal  Systems  Group      
          and  HP  Financial  Services  segments.                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                  HEWLETT-PACKARD  COMPANY  AND  SUBSIDIARIES                                      
                                        SEGMENT  /  BUSINESS  UNIT  INFORMATION                                          
                                                                (Unaudited)                                                                  
                                                              (In  millions)                                                                
                                                                                                                                                        
                                                                                                                            Growth  rate      
                                                                        Three  months  ended                        (%)              
                                                            -----------------------------    -------------    
                                                            July  31,    April  30,    July  31,                                  
                                                                2012              2012            2011          Q/Q          Y/Y      
                                                            --------    ---------    --------    -----      -----    
                                                                                                                                                        
Net  revenue:(a)                                                                                                                          
                                                                                                                                                        
    Personal  Systems  Group                                                                                                        
        Notebooks                                  $    4,416    $      4,900    $    5,082        (10%)      (13%)
        Desktops                                          3,486            3,827          3,777          (9%)        (8%)
        Workstations                                      526                537              547          (2%)        (4%)
        Other                                                    192                188              186            2%            3%  
                                                            --------    ---------    --------                                  
            Total  Personal  Systems                                                                                                
              Group                                          8,620            9,452          9,592          (9%)      (10%)
                                                            --------    ---------    --------                                  
                                                                                                                                                        
    Services                                                                                                                                    
        Infrastructure  Technology                                                                                              
          Outsourcing                                  3,665            3,669          3,899            0%          (6%)
        Technology  Services                    2,634            2,638          2,671            0%          (1%)
        Application  and  Business                                                                                                
          Services(b)                                  2,455            2,524          2,460          (3%)          0%  
                                                            --------    ---------    --------                                  
            Total  Services                          8,754            8,831          9,030          (1%)        (3%)
                                                            --------    ---------    --------                                  
                                                                                                                                                        
    Imaging  and  Printing  Group                                                                                                
        Supplies                                          4,005            4,060          4,143          (1%)        (3%)
        Commercial  Hardware                    1,445            1,479          1,388          (2%)          4%  
        Consumer  Hardware                            567                593              652          (4%)      (13%)
                                                            --------    ---------    --------                                  
            Total  Imaging  and                                                                                                          
              Printing  Group                        6,017            6,132          6,183          (2%)        (3%)
                                                            --------    ---------    --------                                  
                                                                                                                                                        
    Enterprise  Servers,  Storage                                                                                              
      and  Networking                                                                                                                      
        Industry  Standard  Servers        3,187            3,186          3,302            0%          (3%)
        Storage                                                924                990              976          (7%)        (5%)
        Business  Critical  Systems            385                421              459          (9%)      (16%)
        Networking                                          647                614              611            5%            6%  
                                                            --------    ---------    --------                                  
            Total  Enterprise                                                                                                            
              Servers,  Storage  and                                                                                                  
              Networking                                5,143            5,211          5,348          (1%)        (4%)
                                                            --------    ---------    --------                                  
                                                                                                                                                        
    Software                                                  973                970              822            0%          18%  
                                                            --------    ---------    --------                                  
                                                                                                                                                        
    HP  Financial  Services                        935                968              932          (3%)          0%  
                                                            --------    ---------    --------                                  
                                                                                                                                                        
    Corporate  Investments                          19                  18              235            6%        (92%)
                                                            --------    ---------    --------                                  
        Total  segments                            30,461          31,582        32,142          (4%)        (5%)
                                                            --------    ---------    --------                                  
                                                                                                                                                        
    Elimination  of  intersegment                                                                                              
      net  revenue  and  other                    (792)            (889)          (953)      (11%)      (17%)
                                                            --------    ---------    --------                                  
                                                                                                                                                        
        Total  HP  consolidated  net                                                                                              
          revenue                                    $  29,669    $    30,693    $  31,189          (3%)        (5%)
                                                            ========    =========    ========                                  
                                                                                                                                                        
                                                                                                                                                        
(a)    Certain  fiscal  2012  organizational  reclassifications  have  been                  
          reflected  retroactively  to  provide  improved  visibility  and                          
          comparability.  For  each  of  the  quarters  in  fiscal  year  2011,  the              
          reclassifications  resulted  in  the  transfer  of  revenue  among  the                
          Services,  Imaging  and  Printing  Group,  Enterprise  Servers,  Storage  and    
          Networking,  Software  and  Corporate  Investments  financial  reporting          
          segments.  Reclassifications  between  segments  included  the  transfer  of    
          Indigo  Scitex  support  and  the  LaserJet  and  enterprise  solutions  trade    
          support  businesses  from  Services  to  the  Imaging  and  Printing  Group,  the
          transfer  of  the  business  intelligence  services  business  from  Corporate  
          Investments  to  Services,  the  transfer  of  the  information  management        
          services  business  from  Software  to  Services,  and  the  transfer  of  the      
          TippingPoint  business  from  Enterprise  Servers,  Storage  and  Networking    
          to  Software.  In  addition,  revenue  was  transferred  among  the  business      
          units  within  the  Services  segment.  There  was  no  impact  on  the                    
          previously  reported  financial  results  for  the  Personal  Systems  Group      
          and  HP  Financial  Services  segments.                                                                        
                                                                                                                                                        
(b)    The  former  Application  Services,  Business  Process  Outsourcing  and  Other
          Services  business  units  were  consolidated  into  a  new  Application  and      
          Business  Services  business  unit  in  fiscal  2012.                                                
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                    HEWLETT-PACKARD  COMPANY  AND  SUBSIDIARIES                                    
                                        SEGMENT  /  BUSINESS  UNIT  INFORMATION                                          
                                                                (Unaudited)                                                                  
                                                              (In  millions)                                                                
                                                                                                                                                        
                                                                                                              Nine  months  ended        
                                                                                                                      July  31,                  
                                                                                                      ------------------------  
                                                                                                                                                        
                                                                                                              2012                  2011        
                                                                                                      -----------    -----------  
                                                                                                                                                        
Net  revenue:(a)                                                                                                                          
                                                                                                                                                        
    Personal  Systems  Group                                                                                                        
        Notebooks                                                                            $        14,258    $        15,929  
        Desktops                                                                                        10,519              11,314  
        Workstations                                                                                  1,598                1,623  
        Other                                                                                                    570                    590  
                                                                                                      -----------    -----------  
            Total  Personal  Systems  Group                                            26,945              29,456  
                                                                                                      -----------    -----------  
                                                                                                                                                        
    Services                                                                                                                                    
        Infrastructure  Technology  Outsourcing                              11,035              11,329  
        Technology  Services                                                                    7,834                7,814  
        Application  and  Business  Services(b)                                  7,342                7,332  
                                                                                                      -----------    -----------  
            Total  Services                                                                        26,211              26,475  
                                                                                                      -----------    -----------  
                                                                                                                                                        
    Imaging  and  Printing  Group                                                                                                
        Supplies                                                                                        12,144              13,113  
        Commercial  Hardware                                                                    4,413                4,489  
        Consumer  Hardware                                                                        1,850                2,155  
                                                                                                      -----------    -----------  
            Total  Imaging  and  Printing  Group                                    18,407              19,757  
                                                                                                      -----------    -----------  
                                                                                                                                                        
    Enterprise  Servers,  Storage  and  Networking                                                                
        Industry  Standard  Servers                                                        9,445              10,137  
        Storage                                                                                            2,869                2,968  
        Business  Critical  Systems                                                        1,211                1,560  
        Networking                                                                                      1,847                1,798  
                                                                                                      -----------    -----------  
            Total  Enterprise  Servers,  Storage  and                                                                  
              Networking                                                                              15,372              16,463  
                                                                                                      -----------    -----------  
                                                                                                                                                        
    Software                                                                                              2,889                2,344  
                                                                                                      -----------    -----------  
                                                                                                                                                        
    HP  Financial  Services                                                                    2,853                2,644  
                                                                                                      -----------    -----------  
                                                                                                                                                        
    Corporate  Investments                                                                          95                    339  
                                                                                                      -----------    -----------  
        Total  segments                                                                            92,772              97,478  
                                                                                                      -----------    -----------  
                                                                                                                                                        
    Elimination  of  intersegment  net  revenue  and  other          (2,374)            (2,355)
                                                                                                      -----------    -----------  
                                                                                                                                                        
        Total  HP  consolidated  net  revenue                            $        90,398    $        95,123  
                                                                                                      ===========    ===========  
                                                                                                                                                        
                                                                                                                                                        
(a)    Certain  fiscal  2012  organizational  reclassifications  have  been                  
          reflected  retroactively  to  provide  improved  visibility  and                          
          comparability.  For  each  of  the  quarters  in  fiscal  year  2011,  the              
          reclassifications  resulted  in  the  transfer  of  revenue  among  the                
          Services,  Imaging  and  Printing  Group,  Enterprise  Servers,  Storage  and    
          Networking,  Software  and  Corporate  Investments  financial  reporting          
          segments.  Reclassifications  between  segments  included  the  transfer  of    
          Indigo  Scitex  support  and  the  LaserJet  and  enterprise  solutions  trade    
          support  businesses  from  Services  to  the  Imaging  and  Printing  Group,  the
          transfer  of  the  business  intelligence  services  business  from  Corporate  
          Investments  to  Services,  the  transfer  of  the  information  management        
          services  business  from  Software  to  Services,  and  the  transfer  of  the      
          TippingPoint  business  from  Enterprise  Servers,  Storage  and  Networking    
          to  Software.  In  addition,  revenue  was  transferred  among  the  business      
          units  within  the  Services  segment.  There  was  no  impact  on  the                    
          previously  reported  financial  results  for  the  Personal  Systems  Group      
          and  HP  Financial  Services  segments.                                                                        
                                                                                                                                                        
(b)    The  former  Application  Services,  Business  Process  Outsourcing  and  Other
          Services  business  units  were  consolidated  into  a  new  Application  and      
          Business  Services  business  unit  in  fiscal  2012.                                                
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                    HEWLETT-PACKARD  COMPANY  AND  SUBSIDIARIES                                    
                              SEGMENT  NON-GAAP  OPERATING  MARGIN  SUMMARY  DATA                              
                                                                (Unaudited)                                                                  
                                                              (In  millions)                                                                
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                                                    Three  months              Change  in  Operating        
                                                                          ended                              Margin  (pts)              
                                                                  -------------        -------------------------  
                                                                      July  31,                                                                  
                                                                            2012                      Q/Q                      Y/Y            
                                                                  -------------        ---------      -------------  
                                                                                                                                                        
Non-GAAP  operating  margin:(a)                                                                                              
    Personal  Systems  Group                                      4.7%        (0.8  pts)              (1.2  pts)
    Services                                                                11.0%        (0.3  pts)              (2.7  pts)
    Imaging  and  Printing  Group                            15.8%          2.6  pts                  1.6  pts  
    Enterprise  Servers,  Storage  and                                                                                      
      Networking                                                          10.9%        (0.3  pts)              (2.0  pts)
    Software                                                                18.0%          0.3  pts                (1.5  pts)
    HP  Financial  Services                                      10.4%          0.5  pts                  1.0  pts  
    Corporate  Investments                                  (357.9%)    114.3  pts            (215.8  pts)
        Total  segments                                                10.1%          0.3  pts                (0.1  pts)
                                                                                                                                                        
        Total  HP  consolidated  non-                                                                                            
          GAAP  operating  margin                                  9.2%          0.3  pts                (0.6  pts)
                                                                                                                                                        
                                                                                                                                                        
(a)    Certain  fiscal  2012  organizational  reclassifications  have  been                  
          reflected  retroactively  to  provide  improved  visibility  and                          
          comparability.  For  each  of  the  quarters  in  fiscal  year  2011,  the              
          reclassifications  resulted  in  the  transfer  of  revenue  and  operating        
          profit  among  the  Services,  Imaging  and  Printing  Group,  Enterprise            
          Servers,  Storage  and  Networking,  Software  and  Corporate  Investments        
          financial  reporting  segments.  Reclassifications  between  segments              
          included  the  transfer  of  Indigo  Scitex  support  and  the  LaserJet  and        
          enterprise  solutions  trade  support  businesses  from  Services  to  the          
          Imaging  and  Printing  Group,  the  transfer  of  the  business  intelligence    
          services  business  from  Corporate  Investments  to  Services,  the  transfer  
          of  the  information  management  services  business  from  Software  to              
          Services,  and  the  transfer  of  the  TippingPoint  business  from  Enterprise
          Servers,  Storage  and  Networking  to  Software.  There  was  no  impact  on  the
          previously  reported  financial  results  for  the  Personal  Systems  Group      
          and  HP  Financial  Services  segments.                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                    HEWLETT-PACKARD  COMPANY  AND  SUBSIDIARIES                                    
                                        CALCULATION  OF  NET  EARNINGS  PER  SHARE                                      
                                                                  (Unaudited)                                                                
                                      (In  millions  except  per  share  amounts)                                      
                                                                                                                                                        
                                                                                                                                                        
                                                                                                      Three  months  ended              
                                                                                      ---------------------------------
                                                                                        July  31,        April  30,    July  31,  
                                                                                            2012                2012              2011      
                                                                                      ----------    ----------  ----------
                                                                                                                                                        
Numerator:                                                                                                                                    
    GAAP  net  (loss)  earnings                                  $      (8,857)  $        1,593  $        1,926
                                                                                      ==========    ==========  ==========
                                                                                                                                                        
    Non-GAAP  net  earnings                                        $        1,973    $        1,949  $        2,282
                                                                                      ==========    ==========  ==========
                                                                                                                                                        
Denominator:                                                                                                                                
    Weighted-average  shares  used  to  compute                                                                      
      basic  net  (loss)  earnings  per  share  and                                                                    
      diluted  net  (loss)  per  share                                  1,971              1,979            2,054
    Dilutive  effect  of  employee  stock  plans                      4                      8                  26
                                                                                      ----------    ----------  ----------
        Weighted-average  shares  used  to  compute                                                                  
          diluted  net  earnings  per  share                          1,975              1,987            2,080
                                                                                      ==========    ==========  ==========
                                                                                                                                                        
GAAP  net  (loss)  earnings  per  share:                                                                                  
    Basic                                                                        $        (4.49)  $          0.80  $          0.94
    Diluted(a)                                                              $        (4.49)  $          0.80  $          0.93
                                                                                                                                                        
Non-GAAP  net  earnings  per  share:                                                                                        
    Basic                                                                        $          1.00    $          0.98  $          1.11
    Diluted(b)                                                              $          1.00    $          0.98  $          1.10
                                                                                                                                                        
                                                                                                                                                        
(a)    GAAP  diluted  net  earnings  per  share  reflects  any  dilutive  effect  of        
          outstanding  stock  options,  performance-based  restricted  units,                  
          restricted  stock  units  and  restricted  stock,  but  that  effect  is                
          excluded  when  calculating  GAAP  diluted  net  (loss)  per  share  because  it  
          would  be  anti-dilutive.                                                                                                
                                                                                                                                                        
(b)    Non-GAAP  diluted  net  earnings  per  share  reflects  any  dilutive  effect  of
          outstanding  stock  options,  performance-based  restricted  units,                  
          restricted  stock  units  and  restricted  stock.                                                      
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                    HEWLETT-PACKARD  COMPANY  AND  SUBSIDIARIES                                    
                                        CALCULATION  OF  NET  EARNINGS  PER  SHARE                                      
                                                                  (Unaudited)                                                                
                                      (In  millions  except  per  share  amounts)                                      
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                Nine  months  ended      
                                                                                                                        July  31,                
                                                                                                        ------------------------
                                                                                                                                                        
                                                                                                                2012                  2011      
                                                                                                        -----------    -----------
                                                                                                                                                        
                                                                                                                                                        
Numerator:                                                                                                                                    
    GAAP  net  (loss)  earnings                                                    $        (5,796)  $          6,835
                                                                                                        ===========    ===========
                                                                                                                                                        
    Non-GAAP  net  earnings                                                          $          5,754    $          8,029
                                                                                                        ===========    ===========
                                                                                                                                                        
Denominator:                                                                                                                                
    Weighted-average  shares  used  to  compute  basic  net                                                  
      (loss)  earnings  per  share  and  diluted  net  (loss)                                                  
      per  share                                                                                            1,977                2,129
    Dilutive  effect  of  employee  stock  plans                                        15                      32
                                                                                                        -----------    -----------
        Weighted-average  shares  used  to  compute  diluted                                                  
          net  earnings  per  share                                                              1,992                2,161
                                                                                                        ===========    ===========
                                                                                                                                                        
GAAP  net  (loss)  earnings  per  share:                                                                                  
    Basic                                                                                          $          (2.93)  $            3.21
    Diluted(a)                                                                                $          (2.93)  $            3.16
                                                                                                                                                        
Non-GAAP  net  earnings  per  share:                                                                                        
    Basic                                                                                          $            2.91    $            3.77
    Diluted(b)                                                                                $            2.89    $            3.72
                                                                                                                                                        
                                                                                                                                                        
(a)    GAAP  diluted  net  earnings  per  share  reflects  any  dilutive  effect  of        
          outstanding  stock  options,  performance-based  restricted  units,                  
          restricted  stock  units  and  restricted  stock,  but  that  effect  is                
          excluded  when  calculating  GAAP  diluted  net  (loss)  per  share  because  it  
          would  be  anti-dilutive.                                                                                                
                                                                                                                                                        
(b)    Non-GAAP  diluted  net  earnings  per  share  reflects  any  dilutive  effect  of
          outstanding  stock  options,  performance-based  restricted  units,                  
          restricted  stock  units  and  restricted  stock.                                                      
                                                                                                                                                        
 

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