HP: 2014 revenue growth is unlikely

<p>HP is going through a challenging period.</p>

The chief executive of PC manufacturer Hewlett-Packard has stated that it is unlikely the firm will experience a growth in its revenues next year.

Meg Whitman warned that the company faces a challenging period after its latest financial results revealed an eight per cent decline in revenue for the quarter closing at the end of July, compared to a year ago.

"What has changed about 2014's outlook is a couple of things – Enterprise Group's performance especially during the quarter," Ms Whitman told analysts following the release of the statement.

The firm announced that its profits stood at $1.4 billion (£890 million) for the quarter, which is up from a loss of $8.9bn during the same period last year.

Ms Whitman had previously stated there is a chance revenues for the firm could return to growth at some point in 2014, but she now says this is unlikely.

Later today, shares in Hewlett-Packard will start trading on the New York Stock Exchange for 25.38, which is not far off its 52-week high.

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