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It was an inglorious ending but not a surprising one. The former Hewlett-Packard Co. logged a 9 percent drop in sales for its last quarter before breaking in two, perhaps a sign that it really is better off in two pieces.
The old HP split into two companies on Nov 1, when Hewlett-Packard Enterprise was spun out as a separate business. HPE, as it likes to be called, now sells HP’s data center products and services, while HP Inc. sells its printers and PCs.
The old HP had been struggling for years as the PC industry withered, the market for high-end servers dried up and customers shifted spending to cloud services, an area where HP barely competes directly.
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