HP cuts outlook on services revamp

HPonline

NEW YORK: Hewlett-Packard Co is bracing for weaker financial results this year as it overhauls its services business to undo what its CEO described as years of neglect under his predecessor.

For too long, the business focused on short-term results rather than expand into high-margin areas, such as helping businesses convert their systems to new technologies, CEO Leo Apotheker said.