Meg Whitman, Hewlett-Packard’s CEO, beat up her own company, telling analysts that after several quarters of falling sales and shrinking profit, ‘‘We have much more work to do’’ and ‘‘2013 is a fix-and-build year.’’ The news — earnings will fall more than 10 percent next year — drove shareholders to the exits. The stock fell to the lowest in nearly a decade.
Market Mover
HP plunges as CEO warns of lower sales
Paul Sakuma/Associated Press/File 2012
Hewlett-Packard still leads in PC sales but analysts call it dysfunctional. CEO Meg Whitman says she inherited an ill-managed company that had not been innovating and that a turnaround will take several years.