HP (HPQ) 8-K Results of Operations and Financial Condition

EXHIBIT 99.3

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
FISCAL 2008 CONSOLIDATED CONDENSED STATEMENT OF EARNINGS (Revised)
(Unaudited)
(In millions)

	REVISED AMOUNTS											AMOUNTS AS PREVIOUSLY REPORTED											VARIANCE
										Twelve											Twelve														Twelve
										months											months														months
	Three months ended									ended		Three months ended									ended		Three months ended												ended
	Jan. 31, 2008		Apr. 30, 2008		Jul. 31, 2008		Oct. 31, 2008			Oct. 31, 2008		Jan. 31, 2008		Apr. 30, 2008		Jul. 31, 2008		Oct. 31, 2008			Oct. 31, 2008		Jan. 31, 2008			Apr. 30, 2008			Jul. 31, 2008			Oct. 31, 2008			Oct. 31, 2008
Net revenue	$	28,467	$	28,262	$	28,032	$	33,603		$	118,364	$	28,467	$	28,262	$	28,032	$	33,603		$	118,364	$	--		$	--		$	--		$	--		$	--
Costs and expenses(a):
Cost of sales		21,444		21,205		21,197		25,853			89,699		21,499		21,261		21,253		25,908			89,921		(55	)		(56	)		(56	)		(55	)		(222	)
Research and development		898		908		895		842			3,543		898		908		895		842			3,543		--			--			--			--			--
Selling, general and administrative		3,296		3,331		3,193		3,506			13,326		3,241		3,275		3,137		3,451			13,104		55			56			56			55			222
Amortization of purchased intangible
assets		206		211		213		337			967		206		211		213		337			967		--			--			--			--			--
In-process research and development
charges		--		13		--		32			45		--		13		--		32			45		--			--			--			--			--
Restructuring charges		10		4		5		251			270		10		4		5		251			270		--			--			--			--			--
Acquisition-related charges		--		--		--		41			41		--		--		--		41			41		--			--			--			--			--
Total costs and expenses		25,854		25,672		25,503		30,862			107,891		25,854		25,672		25,503		30,862			107,891		--			--			--			--			--
Earnings from operations		2,613		2,590		2,529		2,741			10,473		2,613		2,590		2,529		2,741			10,473		--			--			--			--			--
Interest and other, net		72		3		23		(98	)		--		72		3		23		(98	)		--		--			--			--			--			--
Earnings before taxes		2,685		2,593		2,552		2,643			10,473		2,685		2,593		2,552		2,643			10,473		--			--			--			--			--
Provision for taxes		552		536		525		531			2,144		552		536		525		531			2,144		--			--			--			--			--
Net earnings	$	2,133	$	2,057	$	2,027	$	2,112		$	8,329	$	2,133	$	2,057	$	2,027	$	2,112		$	8,329	$	--		$	--		$	--		$	--		$	--

(a)     Certain pursuit-related costs previously reported as Cost of sales have been realigned retroactively to Selling, general and administrative expenses due to the organizational realignments occurring within HP’s service offerings portfolio.

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
FISCAL 2007 CONSOLIDATED CONDENSED STATEMENT OF EARNINGS (Revised)
(Unaudited)
(In millions)

	REVISED AMOUNTS															AMOUNTS AS PREVIOUSLY REPORTED															VARIANCE
													Twelve															Twelve															Twelve
													months															months															months
	Three months ended												ended			Three months ended												ended			Three months ended												ended
	Jan. 31, 2007			Apr. 30, 2007			Jul. 31, 2007			Oct. 31, 2007			Oct. 31, 2007			Jan. 31, 2007			Apr. 30, 2007			Jul. 31, 2007			Oct. 31, 2007			Oct. 31, 2007			Jan. 31, 2007			Apr. 30, 2007			Jul. 31, 2007			Oct. 31, 2007			Oct. 31, 2007
Net revenue	$	25,082		$	25,534		$	25,377		$	28,293		$	104,286		$	25,082		$	25,534		$	25,377		$	28,293		$	104,286		$	--		$	--		$	--		$	--		$	--
Costs and expenses(a):
Cost of sales		19,088			19,233			19,112			21,250			78,683			19,136			19,283			19,164			21,304			78,887			(48	)		(50	)		(52	)		(54	)		(204	)
Research and development		877			903			917			914			3,611			877			903			917			914			3,611			--			--			--			--			--
Selling, general and
administrative		2,956			3,094			3,054			3,326			12,430			2,908			3,044			3,002			3,272			12,226			48			50			52			54			204
Amortization of purchased
intangible assets		201			212			183			187			783			201			212			183			187			783			--			--			--			--			--
In-process research and
development charges		167			19			--			4			190			167			19			--			4			190			--			--			--			--			--
Restructuring charges		(41	)		453			(5	)		(20	)		387			(41	)		453			(5	)		(20	)		387			--			--			--			--			--
Pension curtailments and pension
settlements, net		(9	)		(508	)		--			--			(517	)		(9	)		(508	)		--			--			(517	)		--			--			--			--			--
Total costs and expenses		23,239			23,406			23,261			25,661			95,567			23,239			23,406			23,261			25,661			95,567			--			--			--			--			--
Earnings from operations		1,843			2,128			2,116			2,632			8,719			1,843			2,128			2,116			2,632			8,719			--			--			--			--			--
Interest and other, net		121			100			170			67			458			121			100			170			67			458			--			--			--			--			--
Earnings before taxes		1,964			2,228			2,286			2,699			9,177			1,964			2,228			2,286			2,699			9,177			--			--			--			--			--
Provision for taxes		417			453			508			535			1,913			417			453			508			535			1,913			--			--			--			--			--
Net earnings	$	1,547		$	1,775		$	1,778		$	2,164		$	7,264		$	1,547		$	1,775		$	1,778		$	2,164		$	7,264		$	--		$	--		$	--		$	--		$	--

(a)     Certain pursuit-related costs previously reported as Cost of sales have been realigned retroactively to Selling, general and administrative expenses due to the organizational realignments occurring within HP’s service offerings portfolio.

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
FISCAL 2008 SEGMENT INFORMATION (Revised)
(Unaudited)
(In millions)

REVISED AMOUNTS
	Three months ended																				Twelve months ended
	Jan. 31, 2008					Apr. 30, 2008					Jul. 31, 2008					Oct. 31, 2008					Oct. 31, 2008
Net revenue: (a)
Enterprise Storage and Servers	$	4,820				$	4,780				$	4,741				$	5,059				$	19,400
Services		4,052					4,262					4,386					8,277					20,977
HP Software		947					1,039					1,086					1,148					4,220
Technology Solutions Group		9,819					10,081					10,213					14,484					44,597
Personal Systems Group		10,791					10,071					10,254					11,179					42,295
Imaging and Printing Group		7,357					7,644					7,041					7,572					29,614
HP Financial Services		642					685					680					691					2,698
Corporate Investments		218					230					271					246					965
Total segments		28,827					28,711					28,459					34,172					120,169
Eliminations of intersegment net revenue and other		(360	)				(449	)				(427	)				(569	)				(1,805	)
Total HP Consolidated	$	28,467				$	28,262				$	28,032				$	33,603				$	118,364
Earnings from operations: (a)				Op	%				Op	%				Op	%				Op	%				Op	%
Enterprise Storage and Servers	$	673		14.0	%	$	655		13.7	%	$	544		11.5	%	$	705		13.9	%	$	2,577		13.3	%
Services		499		12.3	%		507		11.9	%		567		12.9	%		945		11.4	%		2,518		12.0	%
HP Software		49		5.2	%		104		10.0	%		135		12.4	%		211		18.4	%		499		11.8	%
Technology Solutions Group		1,221		12.4	%		1,266		12.6	%		1,246		12.2	%		1,861		12.8	%		5,594		12.5	%
Personal Systems Group		628		5.8	%		544		5.4	%		587		5.7	%		616		5.5	%		2,375		5.6	%
Imaging and Printing Group		1,142		15.5	%		1,220		16.0	%		1,042		14.8	%		1,155		15.3	%		4,559		15.4	%
HP Financial Services		43		6.7	%		47		6.9	%		51		7.5	%		51		7.4	%		192		7.1	%
Corporate Investments		8		3.7	%		6		2.6	%		26		9.6	%		9		3.7	%		49		5.1	%
Total segments		3,042					3,083					2,952					3,692					12,769
Corporate and unallocated costs and eliminations		(89	)				(134	)				(85	)				(153	)				(461	)
Unallocated costs related to stock-based compensation expense		(124	)				(131	)				(120	)				(137	)				(512	)
Amortization of purchased intangible assets		(206	)				(211	)				(213	)				(337	)				(967	)
In-process research and development charges		--					(13	)				--					(32	)				(45	)
Restructuring charges		(10	)				(4	)				(5	)				(251	)				(270	)
Acquisition-related charges		--					--					--					(41	)				(41	)
Interest and other, net		72					3					23					(98	)				--
Total HP Consolidated Earnings Before Taxes	$	2,685				$	2,593				$	2,552				$	2,643				$	10,473

AMOUNTS AS PREVIOUSLY REPORTED
	Three months ended																				Twelve months ended
	Jan. 31, 2008					Apr. 30, 2008					Jul. 31, 2008					Oct. 31, 2008					Oct. 31, 2008
Net revenue:
Enterprise Storage and Servers	$	4,820				$	4,780				$	4,741				$	5,059				$	19,400
Services		4,378					4,627					4,753					8,639					22,397
HP Software		666					727					781					855					3,029
Technology Solutions Group		9,864					10,134					10,275					14,553					44,826
Personal Systems Group		10,791					10,071					10,254					11,179					42,295
Imaging and Printing Group		7,312					7,591					6,979					7,503					29,385
HP Financial Services		642					685					680					691					2,698
Corporate Investments		218					230					271					246					965
Total segments		28,827					28,711					28,459					34,172					120,169
Eliminations of intersegment net revenue and other		(360	)				(449	)				(427	)				(569	)				(1,805	)
Total HP Consolidated	$	28,467				$	28,262				$	28,032				$	33,603				$	118,364
Earnings from operations:				Op	%				Op	%				Op	%				Op	%				Op	%
Enterprise Storage and Servers	$	673		14.0	%	$	655		13.7	%	$	544		11.5	%	$	705		13.9	%	$	2,577		13.3	%
Services		489		11.2	%		508		11.0	%		574		12.1	%		920		10.6	%		2,491		11.1	%
HP Software		51		7.7	%		93		12.8	%		122		15.6	%		195		22.8	%		461		15.2	%
Technology Solutions Group		1,213		12.3	%		1,256		12.4	%		1,240		12.1	%		1,820		12.5	%		5,529		12.3	%
Personal Systems Group		628		5.8	%		544		5.4	%		587		5.7	%		616		5.5	%		2,375		5.6	%
Imaging and Printing Group		1,150		15.7	%		1,230		16.2	%		1,048		15.0	%		1,162		15.5	%		4,590		15.6	%
HP Financial Services		43		6.7	%		47		6.9	%		51		7.5	%		51		7.4	%		192		7.1	%
Corporate Investments		8		3.7	%		6		2.6	%		26		9.6	%		9		3.7	%		49		5.1	%
Total segments		3,042					3,083					2,952					3,658					12,735
Corporate and unallocated costs and eliminations		(89	)				(134	)				(85	)				(152	)				(460	)
Unallocated costs related to stock-based compensation expense		(124	)				(131	)				(120	)				(104	)				(479	)
Amortization of purchased intangible assets		(206	)				(211	)				(213	)				(337	)				(967	)
In-process research and development charges		--					(13	)				--					(32	)				(45	)
Restructuring charges		(10	)				(4	)				(5	)				(251	)				(270	)
Acquisition-related charges		--					--					--					(41	)				(41	)
Interest and other, net		72					3					23					(98	)				--
Total HP Consolidated Earnings Before Taxes	$	2,685				$	2,593				$	2,552				$	2,643				$	10,473

Variance
	Three months ended																				Twelve months ended
	Jan. 31, 2008					Apr. 30, 2008					Jul. 31, 2008					Oct. 31, 2008					Oct. 31, 2008
Net revenue:
Enterprise Storage and Servers	$	--				$	--				$	--				$	--				$	--
Services		(326	)				(365	)				(367	)				(362	)				(1,420	)
HP Software		281					312					305					293					1,191
Technology Solutions Group		(45	)				(53	)				(62	)				(69	)				(229	)
Personal Systems Group		--					--					--					--					--
Imaging and Printing Group		45					53					62					69					229
HP Financial Services		--					--					--					--					--
Corporate Investments		--					--					--					--					--
Total segments		--					--					--					--					--
Eliminations of intersegment net revenue and other		--					--					--					--					--
Total HP Consolidated	$	--				$	--				$	--				$	--				$	--
Earnings from operations:				Op	%				Op	%				Op	%				Op	%				Op	%
Enterprise Storage and Servers	$	--		--		$	--		--		$	--	-	--		$	--		--		$	--		--
Services		10		1.1	%		(1	)	0.9	%		(7	)	0.8	%		25		0.8	%		27		0.9	%
HP Software		(2	)	-2.5	%		11		-2.8	%		13		-3.2	%		16		-4.4	%		38		-3.4	%
Technology Solutions Group		8		0.1	%		10		0.2	%		6		0.1	%		41		0.3	%		65		0.2	%
Personal Systems Group		--		--			--		--			--		--			--		--			--		--
Imaging and Printing Group		(8	)	-0.2	%		(10	)	-0.2	%		(6	)	-0.2	%		(7	)	-0.2	%		(31	)	-0.2	%
HP Financial Services		--		--			--		--			--		--			--		--			--		--
Corporate Investments		--		--			--		--			--		--			--		--			--		--
Total segments		--					--					--					34					34
Corporate and unallocated costs and eliminations		--					--					--					(1	)				(1	)
Unallocated costs related to stock-based compensation expense		--					--					--					(33	)				(33	)
Amortization of purchased intangible assets		--					--					--					--					--
In-process research and development charges		--					--					--					--					--
Restructuring charges		--					--					--					--					--
Acquisition-related charges		--					--					--					--					--
Interest and other, net		--					--					--					--					--
Total HP Consolidated Earnings Before Taxes	$	--				$	--				$	--				$	--				$	--

(a)    Certain fiscal 2009 organizational reclassifications have been reflected retroactively to provide improved visibility and comparability. For each of the quarters in fiscal year 2008, the reclassifications resulted in the transfer of revenue and operating profit among the Services, HP Software and Imaging and Printing Group financial reporting segments. In addition, certain previously allocated costs were reclassified to unallocated costs related to stock-based compensation expense. There was no impact on the previously reported financial results for the Enterprise Storage and Servers, Personal Systems Group, HP Financial Services and Corporate Investments segments.

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
FISCAL 2007 SEGMENT INFORMATION (Revised)
(Unaudited)
(In millions)

REVISED AMOUNTS
	Three months ended																				Twelve months ended
	Jan. 31, 2007					Apr. 30, 2007					Jul. 31, 2007					Oct. 31, 2007					Oct. 31, 2007
Net revenue: (a)
Enterprise Storage and Servers	$	4,421				$	4,594				$	4,516				$	5,108				$	18,639
Services		3,649					3,814					3,860					4,006					15,329
HP Software		853					845					880					1,050					3,628
Technology Solutions Group		8,923					9,253					9,256					10,164					37,596
Personal Systems Group		8,719					8,663					8,894					10,133					36,409
Imaging and Printing Group		7,027					7,195					6,782					7,605					28,609
HP Financial Services		547					550					582					657					2,336
Corporate Investments		157					175					220					210					762
Total segments		25,373					25,836					25,734					28,769					105,712
Eliminations of intersegment net revenue and other		(291	)				(302	)				(357	)				(476	)				(1,426	)
Total HP Consolidated	$	25,082				$	25,534				$	25,377				$	28,293				$	104,286
Earnings from operations: (a)				Op	%				Op	%				Op	%				Op	%				Op	%
Enterprise Storage and Servers	$	453		10.2	%	$	452		9.8	%	$	507		11.2	%	$	736		14.4	%	$	2,148		11.5	%
Services		399		10.9	%		445		11.7	%		421		10.9	%		517		12.9	%		1,782		11.6	%
HP Software		27		3.2	%		19		2.2	%		61		6.9	%		141		13.4	%		248		6.8	%
Technology Solutions Group		879		9.9	%		916		9.9	%		989		10.7	%		1,394		13.7	%		4,178		11.1	%
Personal Systems Group		414		4.7	%		417		4.8	%		519		5.8	%		589		5.8	%		1,939		5.3	%
Imaging and Printing Group		1,071		15.2	%		1,159		16.1	%		967		14.3	%		1,096		14.4	%		4,293		15.0	%
HP Financial Services		32		5.9	%		36		6.5	%		39		6.7	%		48		7.3	%		155		6.6	%
Corporate Investments		(29	)	-18.5	%		(18	)	-10.3	%		(5	)	-2.3	%		(5	)	-2.4	%		(57	)	-7.5	%
Total segments		2,367					2,510					2,509					3,122					10,508
Corporate and unallocated costs and eliminations		(66	)				(75	)				(101	)				(197	)				(439	)
Unallocated costs related to stock-based compensation expense		(140	)				(131	)				(114	)				(122	)				(507	)
Amortization of purchased intangible assets		(201	)				(212	)				(183	)				(187	)				(783	)
In-process research and development charges		(167	)				(19	)				--					(4	)				(190	)
Restructuring charges		41					(453	)				5					20					(387	)
Pension curtailments and pension settlements, net		9					508					--					--					517
Interest and other, net		121					100					170					67					458
Total HP Consolidated Earnings Before Taxes	$	1,964				$	2,228				$	2,286				$	2,699				$	9,177

AMOUNTS AS PREVIOUSLY REPORTED
	Three months ended																				Twelve months ended
	Jan. 31, 2007					Apr. 30, 2007					Jul. 31, 2007					Oct. 31, 2007					Oct. 31, 2007
Net revenue:
Enterprise Storage and Servers	$	4,421				$	4,594				$	4,516				$	5,108				$	18,639
Services		3,932					4,125					4,165					4,348					16,570
HP Software		598					568					606					759					2,531
Technology Solutions Group		8,951					9,287					9,287					10,215					37,740
Personal Systems Group		8,719					8,663					8,894					10,133					36,409
Imaging and Printing Group		6,999					7,161					6,751					7,554					28,465
HP Financial Services		547					550					582					657					2,336
Corporate Investments		157					175					220					210					762
Total segments		25,373					25,836					25,734					28,769					105,712
Eliminations of intersegment net revenue and other		(291	)				(302	)				(357	)				(476	)				(1,426	)
Total HP Consolidated	$	25,082				$	25,534				$	25,377				$	28,293				$	104,286
Earnings from operations:				Op	%				Op	%				Op	%				Op	%				Op	%
Enterprise Storage and Servers	$	453		10.2	%	$	452		9.8	%	$	507		11.2	%	$	736		14.4	%	$	2,148		11.5	%
Services		406		10.3	%		449		10.9	%		417		10.0	%		515		11.8	%		1,787		10.8	%
HP Software		18		3.0	%		7		1.2	%		51		8.4	%		145		19.1	%		221		8.7	%
Technology Solutions Group		877		9.8	%		908		9.8	%		975		10.5	%		1,396		13.7	%		4,156		11.0	%
Personal Systems Group		414		4.7	%		417		4.8	%		519		5.8	%		589		5.8	%		1,939		5.3	%
Imaging and Printing Group		1,073		15.3	%		1,167		16.3	%		981		14.5	%		1,094		14.5	%		4,315		15.2	%
HP Financial Services		32		5.9	%		36		6.5	%		39		6.7	%		48		7.3	%		155		6.6	%
Corporate Investments		(29	)	-18.5	%		(18	)	-10.3	%		(5	)	-2.3	%		(5	)	-2.4	%		(57	)	-7.5	%
Total segments		2,367					2,510					2,509					3,122					10,508
Corporate and unallocated costs and eliminations		(66	)				(75	)				(101	)				(197	)				(439	)
Unallocated costs related to stock-based compensation expense		(140	)				(131	)				(114	)				(122	)				(507	)
Amortization of purchased intangible assets		(201	)				(212	)				(183	)				(187	)				(783	)
In-process research and development charges		(167	)				(19	)				--					(4	)				(190	)
Restructuring charges		41					(453	)				5					20					(387	)
Pension curtailments and pension settlements, net		9					508					--					--					517
Interest and other, net		121					100					170					67					458
Total HP Consolidated Earnings Before Taxes	$	1,964				$	2,228				$	2,286				$	2,699				$	9,177

Variance
	Three months ended																				Twelve months ended
	Jan. 31, 2007					Apr. 30, 2007					Jul. 31, 2007					Oct. 31, 2007					Oct. 31, 2007
Net revenue:
Enterprise Storage and Servers	$	--				$	--				$	--				$	--				$	--
Services		(283	)				(311	)				(305	)				(342	)				(1,241	)
HP Software		255					277					274					291					1,097
Technology Solutions Group		(28	)				(34	)				(31	)				(51	)				(144	)
Personal Systems Group		--					--					--					--					--
Imaging and Printing Group		28					34					31					51					144
HP Financial Services		--					--					--					--					--
Corporate Investments		--					--					--					--					--
Total segments		--					--					--					--					--
Eliminations of intersegment net revenue and other		--					--					--					--					--
Total HP Consolidated	$	--				$	--				$	--				$	--				$	--
Earnings from operations:				Op	%				Op	%				Op	%				Op	%				Op	%
Enterprise Storage and Servers	$	--		--		$	--		--		$	--		--		$	--		--		$	--		--
Services		(7	)	0.6	%		(4	)	0.8	%		4		0.9	%		2		1.1	%		(5	)	0.8	%
HP Software		9		0.2	%		12		1.0	%		10		-1.5	%		(4	)	-5.7	%		27		-1.9	%
Technology Solutions Group		2		0.1	%		8		0.1	%		14		0.2	%		(2	)	--			22		0.1	%
Personal Systems Group		--		--			--		--			--		--			--		--			--		--
Imaging and Printing Group		(2	)	-0.1	%		(8	)	-0.2	%		(14	)	-0.2	%		2		-0.1	%		(22	)	-0.2	%
HP Financial Services		--		--			--		--			--		--			--		--			--		--
Corporate Investments		--		--			--		--			--		--			--		--			--		--
Total segments		--					--					--					--					--
Corporate and unallocated costs and eliminations		--					--					--					--					--
Unallocated costs related to stock-based compensation expense		--					--					--					--					--
Amortization of purchased intangible assets		--					--					--					--					--
In-process research and development charges		--					--					--					--					--
Restructuring charges		--					--					--					--					--
Interest and other, net		--					--					--					--					--
Total HP Consolidated Earnings Before Taxes	$	--				$	--				$	--				$	--				$	--

(a)     Certain fiscal 2009 organizational reclassifications have been reflected retroactively to provide improved visibility and comparability. For each of the quarters in fiscal year 2007, the reclassifications resulted in the transfer of revenue and operating profit among the Services, HP Software and Imaging and Printing Group financial reporting segments. There was no impact on the previously reported financial results for the Enterprise Storage and Servers, Personal Systems Group, HP Financial Services and Corporate Investments segments.