Financial Times FT.com

Hewlett-Packard profits plunge dashes hopes of tech recovery

By Joseph Menn in San Francisco

Published: August 19 2009 03:00 | Last updated: August 19 2009 03:00

An expected recovery in technology markets that could add to early indications that the world is heading out of recession has yet to take hold, according to figures released yesterday by Hewlett-Packard

The group damped enthusiasm in the industry, announcing a 19 per cent drop in profit amid continued weakness in the European economy and a reluctance among corporate buyers to upgrade.

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