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

EXHIBIT 99.3

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
FISCAL 2010 CONSOLIDATED CONDENSED STATEMENT OF EARNINGS (Revised)
(Unaudited)
(In millions)
	REVISED AMOUNTS															AMOUNTS AS PREVIOUSLY REPORTED															VARIANCE
	Three months ended												Twelve months ended			Three months ended												Twelve months ended			Three months ended												Twelve months ended
	Jan. 31, 2010			Apr. 30, 2010			Jul. 31, 2010			Oct. 31, 2010			Oct. 31, 2010			Jan. 31, 2010			Apr. 30, 2010			Jul. 31, 2010			Oct. 31, 2010			Oct. 31, 2010			Jan. 31, 2010			Apr. 30, 2010			Jul. 31, 2010			Oct. 31, 2010			Oct. 31, 2010
Net revenue	$	31,177		$	30,849		$	30,729		$	33,278		$	126,033		$	31,177		$	30,849		$	30,729		$	33,278		$	126,033		$	-		$	-		$	-		$	-		$	-
Costs and expenses(a):
Cost of sales		24,027			23,569			23,365			24,995			95,956			24,062			23,601			23,402			25,024			96,089			(35	)		(32	)		(37	)		(29	)		(133	)
Research and development		681			722			742			814			2,959			681			722			742			814			2,959			-			-			-			-			-
Selling, general and administrative		2,967			3,096			3,191			3,464			12,718			2,932			3,064			3,154			3,435			12,585			35			32			37			29			133
Amortization of purchased intangible assets		330			347			383			424			1,484			330			347			383			424			1,484			-			-			-			-			-
Restructuring charges		131			180			598			235			1,144			131			180			598			235			1,144			-			-			-			-			-
Acquisition-related charges		38			77			127			51			293			38			77			127			51			293			-			-			-			-			-
Total costs and expenses		28,174			27,991			28,406			29,983			114,554			28,174			27,991			28,406			29,983			114,554			-			-			-			-			-
Earnings from operations		3,003			2,858			2,323			3,295			11,479			3,003			2,858			2,323			3,295			11,479			-			-			-			-			-
Interest and other, net		(199	)		(91	)		(134	)		(81	)		(505	)		(199	)		(91	)		(134	)		(81	)		(505	)		-			-			-			-			-
Earnings before taxes		2,804			2,767			2,189			3,214			10,974			2,804			2,767			2,189			3,214			10,974			-			-			-			-			-
Provision for taxes		554			567			416			676			2,213			554			567			416			676			2,213			-			-			-			-			-
Net earnings	$	2,250		$	2,200		$	1,773		$	2,538		$	8,761		$	2,250		$	2,200		$	1,773		$	2,538		$	8,761		$	-		$	-		$	-		$	-		$	-

(a) In connection with organizational realignments implemented in fiscal 2011, certain costs previously reported as Cost of Sales have been reclassified as Selling, General and Administrative expenses to better align those costs with the functional areas that benefit from those expenditures.

1

 

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
FISCAL 2009 CONSOLIDATED CONDENSED STATEMENT OF EARNINGS (Revised)
(Unaudited)
(In millions)
		REVISED AMOUNTS															AMOUNTS AS PREVIOUSLY REPORTED															VARIANCE
		Three months ended												Twelve months ended			Three months ended												Twelve months ended			Three months ended												Twelve months ended
		Jan. 31, 2009			Apr. 30, 2009			Jul. 31, 2009			Oct. 31, 2009			Oct. 31, 2009			Jan. 31, 2009			Apr. 30, 2009			Jul. 31, 2009			Oct. 31, 2009			Oct. 31, 2009			Jan. 31, 2009			Apr. 30, 2009			Jul. 31, 2009			Oct. 31, 2009			Oct. 31, 2009
Net revenue		$	28,807		$	27,383		$	27,585		$	30,777		$	114,552		$	28,807		$	27,383		$	27,585		$	30,777		$	114,552		$	-		$	-		$	-		$	-		$	-
Costs and expenses(a):
Cost of sales			22,064			20,937			21,022			23,466			87,489			22,073			20,945			21,031			23,475			87,524			(9	)		(8	)		(9	)		(9	)		(35	)
Research and development			732			716			667			704			2,819			732			716			667			704			2,819			-			-			-			-			-
Selling, general and administrative			2,902			2,888			2,883			2,975			11,648			2,893			2,880			2,874			2,966			11,613			9			8			9			9			35
Amortization of purchased intangible assets			418			380			379			401			1,578			418			380			379			401			1,578			-			-			-			-			-
Restructuring charges			146			94			362			38			640			146			94			362			38			640			-			-			-			-			-
Acquisition-related charges			48			75			59			60			242			48			75			59			60			242			-			-			-			-			-
Total costs and expenses			26,310			25,090			25,372			27,644			104,416			26,310			25,090			25,372			27,644			104,416			-			-			-			-			-
Earnings from operations			2,497			2,293			2,213			3,133			10,136			2,497			2,293			2,213			3,133			10,136			-			-			-			-			-
Interest and other, net			(232	)		(180	)		(177	)		(132	)		(721	)		(232	)		(180	)		(177	)		(132	)		(721	)		-			-			-			-			-
Earnings before taxes			2,265			2,113			2,036			3,001			9,415			2,265			2,113			2,036			3,001			9,415			-			-			-			-			-
Provision for taxes			409			392			365			589			1,755			409			392			365			589			1,755			-			-			-			-			-
Net earnings		$	1,856		$	1,721		$	1,671		$	2,412		$	7,660		$	1,856		$	1,721		$	1,671		$	2,412		$	7,660		$	-		$	-		$	-		$	-		$	-
(a)	In connection with organizational realignments implemented in fiscal 2011, certain costs previously reported as Cost of Sales have been reclassified as Selling, General and Administrative expenses to better align those costs with the functional areas that benefit from those expenditures.

2

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
FISCAL 2010 SEGMENT INFORMATION (Revised)
(Unaudited)
(In millions)
REVISED AMOUNTS
	Three months ended																								Twelve months ended
	Jan. 31, 2010						Apr. 30, 2010						Jul. 31, 2010						Oct. 31, 2010						Oct. 31, 2010
Net revenue:(a)
Services	$	8,790					$	8,842					$	8,772					$	9,125					$	35,529
Enterprise Servers, Storage and Networking		4,610						4,837						5,021						5,888						20,356
HP Software		663						653						650						763						2,729
HP Enterprise Business		14,063						14,332						14,443						15,776						58,614
Personal Systems Group		10,584						9,956						9,918						10,283						40,741
Imaging and Printing Group		6,206						6,396						6,167						6,995						25,764
HP Financial Services		719						755						764						809						3,047
Corporate Investments		60						66						85						135						346
Total segments		31,632						31,505						31,377						33,998						128,512
Eliminations of intersegment net revenue and other		(455	)					(656	)					(648	)					(720	)					(2,479	)
Total HP Consolidated Revenue	$	31,177					$	30,849					$	30,729					$	33,278					$	126,033
Earnings from operations:(a)				OP		%				OP		%				OP		%				OP		%				OP		%
Services	$	1,379			15.7	%	$	1,401			15.8	%	$	1,381			15.7	%	$	1,500			16.4	%	$	5,661			15.9	%
Enterprise Servers, Storage and Networking		607			13.2	%		624			12.9	%		706			14.1	%		888			15.1	%		2,825			13.9	%
HP Software		172			25.9	%		167			25.6	%		182			28.0	%		261			34.2	%		782			28.7	%
HP Enterprise Business		2,158			15.3	%		2,192			15.3	%		2,269			15.7	%		2,649			16.8	%		9,268			15.8	%
Personal Systems Group		530			5.0	%		465			4.7	%		469			4.7	%		568			5.5	%		2,032			5.0	%
Imaging and Printing Group		1,054			17.0	%		1,098			17.2	%		1,040			16.9	%		1,220			17.4	%		4,412			17.1	%
HP Financial Services		67			9.3	%		69			9.1	%		72			9.4	%		73			9.0	%		281			9.2	%
Corporate Investments		(56	)	-93.3		%		(65	)	-98.5		%		(88	)	-103.5		%		(157	)	-116.3		%		(366	)	-105.8		%
Total segments		3,753						3,759						3,762						4,353						15,627
Corporate and unallocated costs and eliminations		(88	)					(112	)					(175	)					(239	)					(614	)
Unallocated costs related to stock-based compensation expense		(163	)					(185	)					(156	)					(109	)					(613	)
Amortization of purchased intangible assets		(330	)					(347	)					(383	)					(424	)					(1,484	)
Restructuring charges		(131	)					(180	)					(598	)					(235	)					(1,144	)
Acquisition-related charges		(38	)					(77	)					(127	)					(51	)					(293	)
Interest and other, net		(199	)					(91	)					(134	)					(81	)					(505	)
Total HP Consolidated Earnings Before Taxes	$	2,804					$	2,767					$	2,189					$	3,214					$	10,974

AMOUNTS AS PREVIOUSLY REPORTED
	Three months ended																								Twelve months ended
	Jan. 31, 2010						Apr. 30, 2010						Jul. 31, 2010						Oct. 31, 2010						Oct. 31, 2010
Net revenue:
Services	$	8,651					$	8,712					$	8,609					$	8,963					$	34,935
Enterprise Servers, Storage and Networking		4,391						4,542						4,449						5,269						18,651
HP Software		878						871						863						974						3,586
HP Enterprise Business		13,920						14,125						13,921						15,206						57,172
Personal Systems Group		10,584						9,956						9,918						10,283						40,741
Imaging and Printing Group		6,206						6,396						6,167						6,995						25,764
HP Financial Services		719						755						764						809						3,047
Corporate Investments		236						315						607						705						1,863
Total segments		31,665						31,547						31,377						33,998						128,587
Eliminations of intersegment net revenue and other		(488	)					(698	)					(648	)					(720	)					(2,554	)
Total HP Consolidated Revenue	$	31,177					$	30,849					$	30,729					$	33,278					$	126,033
Earnings from operations:				OP		%				OP		%				OP		%				OP		%				OP		%
Services	$	1,364			15.8	%	$	1,382			15.9	%	$	1,366			15.9	%	$	1,497			16.7	%	$	5,609			16.1	%
Enterprise Servers, Storage and Networking		552			12.6	%		571			12.6	%		549			12.3	%		730			13.9	%		2,402			12.9	%
HP Software		167			19.0	%		162			18.6	%		183			21.2	%		247			25.4	%		759			21.2	%
HP Enterprise Business		2,083			15.0	%		2,115			15.0	%		2,098			15.1	%		2,474			16.3	%		8,770			15.3	%
Personal Systems Group		530			5.0	%		465			4.7	%		469			4.7	%		568			5.5	%		2,032			5.0	%
Imaging and Printing Group		1,054			17.0	%		1,098			17.2	%		1,040			16.9	%		1,220			17.4	%		4,412			17.1	%
HP Financial Services		67			9.3	%		69			9.1	%		72			9.4	%		73			9.0	%		281			9.2	%
Corporate Investments		19			8.1	%		12			3.8	%		83		13.7		%		18			2.6	%		132			7.1	%
Total segments		3,753						3,759						3,762						4,353						15,627
Corporate and unallocated costs and eliminations		(88	)					(112	)					(175	)					(239	)					(614	)
Unallocated costs related to stock-based compensation expense		(163	)					(185	)					(156	)					(109	)					(613	)
Amortization of purchased intangible assets		(330	)					(347	)					(383	)					(424	)					(1,484	)
Restructuring charges		(131	)					(180	)					(598	)					(235	)					(1,144	)
Acquisition-related charges		(38	)					(77	)					(127	)					(51	)					(293	)
Interest and other, net		(199	)					(91	)					(134	)					(81	)					(505	)
Total HP Consolidated Earnings Before Taxes	$	2,804					$	2,767					$	2,189					$	3,214					$	10,974

3

VARIANCE
	Three months ended																												Twelve months ended
	Jan. 31, 2010							Apr. 30, 2010							Jul. 31, 2010							Oct. 31, 2010							Oct. 31, 2010
Net revenue:
Services	$	139						$	130						$	163						$	162						$	594
Enterprise Servers, Storage and Networking		219							295							572							619							1,705
HP Software		(215	)						(218	)						(213	)						(211	)						(857	)
HP Enterprise Business		143							207							522							570							1,442
Personal Systems Group		-							-							-							-							-
Imaging and Printing Group		-							-							-							-							-
HP Financial Services		-							-							-							-							-
Corporate Investments		(176	)						(249	)						(522	)						(570	)						(1,517	)
Total segments		(33	)						(42	)						-							-							(75	)
Eliminations of intersegment net revenue and other		33							42							-							-							75
Total HP Consolidated Revenue	$	-						$	-						$	-						$	-						$	-
Earnings from operations:					OP		%					OP		%					OP		%					OP		%					OP		%
Services	$	15			-0.1		%	$	19			-0.1		%	$	15			-0.2		%	$	3			-0.3		%	$	52			-0.2		%
Enterprise Servers, Storage and Networking		55				0.6	%		53				0.3	%		157				1.8	%		158				1.2	%		423				1.0	%
HP Software		5				6.9	%		5				7.0	%		(1	)			6.8	%		14				8.8	%		23				7.5	%
HP Enterprise Business		75				0.3	%		77				0.3	%		171				0.6	%		175				0.5	%		498				0.5	%
Personal Systems Group		-				0.0	%		-				0.0	%		-				0.0	%		-				0.0	%		-				0.0	%
Imaging and Printing Group		-				0.0	%		-				0.0	%		-				0.0	%		-				0.0	%		-				0.0	%
HP Financial Services		-				0.0	%		-				0.0	%		-				0.0	%		-				0.0	%		-				0.0	%
Corporate Investments		(75	)	-101.4			%		(77	)	-102.3			%		(171	)	-117.2			%		(175	)	-118.9			%		(498	)	-112.9			%
Total segments		-							-							-							-							-
Corporate and unallocated costs and eliminations		-							-							-							-							-
Unallocated costs related to stock-based compensation expense		-							-							-							-							-
Amortization of purchased intangible assets		-							-							-							-							-
Restructuring charges		-							-							-							-							-
Acquisition-related charges		-							-							-							-							-
Interest and other, net		-							-							-							-							-
Total HP Consolidated Earnings Before Taxes	$	-						$	-						$	-						$	-						$	-

(a) Certain fiscal 2011 organizational reclassifications have been reflected retroactively to provide improved visibility and comparability. For each of the quarters in fiscal year 2010, the reclassifications resulted in the transfer of revenue and operating profit among the Enterprise Servers, Storage and Networking, Services, HP Software and Corporate Investments financial reporting segments. Reclassifications between segments included the transfer of the networking business from Corporate Investments to Enterprise Servers, Storage and Networking, the transfer of the communications and media solutions business from HP Software to Services, and the transfer of the business intelligence business from HP Software to Corporate Investments. There was no impact on the previously reported financial results for the Personal Systems Group, HP Financial Services and Imaging and Printing Group segments.

4

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
FISCAL 2009 SEGMENT INFORMATION (Revised)
(Unaudited)
(In millions)
REVISED AMOUNTS
	Three months ended																								Twelve months ended
	Jan. 31, 2009						Apr. 30, 2009						Jul. 31, 2009						Oct. 31, 2009						Oct. 31, 2009
Net revenue:(a)
Services	$	8,918					$	8,698					$	8,680					$	9,084					$	35,380
Enterprise Servers, Storage and Networking		4,143						3,645						3,926						4,407						16,121
HP Software		660						633						629						733						2,655
HP Enterprise Business		13,721						12,976						13,235						14,224						54,156
Personal Systems Group		8,792						8,210						8,441						9,862						35,305
Imaging and Printing Group		5,981						5,916						5,660						6,454						24,011
HP Financial Services		636						641						670						726						2,673
Corporate Investments		45						44						48						54						191
Total segments		29,175						27,787						28,054						31,320						116,336
Eliminations of intersegment net revenue and other		(368	)					(404	)					(469	)					(543	)					(1,784	)
Total HP Consolidated Revenue	$	28,807					$	27,383					$	27,585					$	30,777					$	114,552
Earnings from operations:(a)				OP		%				OP		%				OP		%				OP		%				OP		%
Services	$	1,127			12.6	%	$	1,206			13.9	%	$	1,312			15.1	%	$	1,457			16.0	%	$	5,102			14.4	%
Enterprise Servers, Storage and Networking		438			10.6	%		279			7.7	%		420			10.7	%		520			11.8	%		1,657			10.3	%
HP Software		168			25.5	%		150			23.7	%		169			26.9	%		244			33.3	%		731			27.5	%
HP Enterprise Business		1,733			12.6	%		1,635			12.6	%		1,901			14.4	%		2,221			15.6	%		7,490			13.8	%
Personal Systems Group		436			5.0	%		378			4.6	%		387			4.6	%		460			4.7	%		1,661			4.7	%
Imaging and Printing Group		1,105			18.5	%		1,074			18.2	%		960			17.0	%		1,171			18.1	%		4,310			18.0	%
HP Financial Services		41			6.4	%		46			7.2	%		53			7.9	%		66			9.1	%		206			7.7	%
Corporate Investments		(82	)	-182.2		%		(73	)	-165.9		%		(75	)	-156.3		%		(70	)	-129.6		%		(300	)	-157.1		%
Total segments		3,233						3,060						3,226						3,848						13,367
Corporate and unallocated costs and eliminations		24						(62	)					(81	)					(100	)					(219	)
Unallocated costs related to stock-based compensation expense		(148	)					(156	)					(132	)					(116	)					(552	)
Amortization of purchased intangible assets		(418	)					(380	)					(379	)					(401	)					(1,578	)
Restructuring charges		(146	)					(94	)					(362	)					(38	)					(640	)
Acquisition-related charges		(48	)					(75	)					(59	)					(60	)					(242	)
Interest and other, net		(232	)					(180	)					(177	)					(132	)					(721	)
Total HP Consolidated Earnings Before Taxes	$	2,265					$	2,113					$	2,036					$	3,001					$	9,415

AMOUNTS AS PREVIOUSLY REPORTED
	Three months ended																								Twelve months ended
	Jan. 31, 2009						Apr. 30, 2009						Jul. 31, 2009						Oct. 31, 2009						Oct. 31, 2009
Net revenue:
Services	$	8,747					$	8,500					$	8,520					$	8,926					$	34,693
Enterprise Servers, Storage and Networking		3,949						3,457						3,735						4,218						15,359
HP Software		878						880						847						967						3,572
HP Enterprise Business		13,574						12,837						13,102						14,111						53,624
Personal Systems Group		8,792						8,210						8,441						9,862						35,305
Imaging and Printing Group		5,981						5,916						5,660						6,454						24,011
HP Financial Services		636						641						670						726						2,673
Corporate Investments		196						188						193						191						768
Total segments		29,179						27,792						28,066						31,344						116,381
Eliminations of intersegment net revenue and other		(372	)					(409	)					(481	)					(567	)					(1,829	)
Total HP Consolidated Revenue	$	28,807					$	27,383					$	27,585					$	30,777					$	114,552
Earnings from operations:				OP		%				OP		%				OP		%				OP		%				OP		%
Services	$	1,124			12.9	%	$	1,174			13.8	%	$	1,302			15.3	%	$	1,444			16.2	%	$	5,044			14.5	%
Enterprise Servers, Storage and Networking		406			10.3	%		250			7.2	%		381			10.2	%		481			11.4	%		1,518			9.9	%
HP Software		140			15.9	%		157			17.8	%		153			18.1	%		234			24.2	%		684			19.1	%
HP Enterprise Business		1,670			12.3	%		1,581			12.3	%		1,836			14.0	%		2,159			15.3	%		7,246			13.5	%
Personal Systems Group		436			5.0	%		378			4.6	%		387			4.6	%		460			4.7	%		1,661			4.7	%
Imaging and Printing Group		1,105			18.5	%		1,074			18.2	%		960			17.0	%		1,171			18.1	%		4,310			18.0	%
HP Financial Services		41			6.4	%		46			7.2	%		53			7.9	%		66			9.1	%		206			7.7	%
Corporate Investments		(19	)	-9.7		%		(19	)	-10.1		%		(10	)	-5.2		%		(8	)	-4.2		%		(56	)	-7.3		%
Total segments		3,233						3,060						3,226						3,848						13,367
Corporate and unallocated costs and eliminations		24						(62	)					(81	)					(100	)					(219	)
Unallocated costs related to stock-based compensation expense		(148	)					(156	)					(132	)					(116	)					(552	)
Amortization of purchased intangible assets		(418	)					(380	)					(379	)					(401	)					(1,578	)
Restructuring charges		(146	)					(94	)					(362	)					(38	)					(640	)
Acquisition-related charges		(48	)					(75	)					(59	)					(60	)					(242	)
Interest and other, net		(232	)					(180	)					(177	)					(132	)					(721	)
Total HP Consolidated Earnings Before Taxes	$	2,265					$	2,113					$	2,036					$	3,001					$	9,415

5

VARIANCE
	Three months ended																												Twelve months ended
	Jan. 31, 2009							Apr. 30, 2009							Jul. 31, 2009							Oct. 31, 2009							Oct. 31, 2009
Net revenue:
Services	$	171						$	198						$	160						$	158						$	687
Enterprise Servers, Storage and Networking		194							188							191							189							762
HP Software		(218	)						(247	)						(218	)						(234	)						(917	)
HP Enterprise Business		147							139							133							113							532
Personal Systems Group		-							-							-							-							-
Imaging and Printing Group		-							-							-							-							-
HP Financial Services		-							-							-							-							-
Corporate Investments		(151	)						(144	)						(145	)						(137	)						(577	)
Total segments		(4	)						(5	)						(12	)						(24	)						(45	)
Eliminations of intersegment net revenue and other		4							5							12							24							45
Total HP Consolidated Revenue	$	-						$	-						$	-						$	-						$	-
Earnings from operations:					OP		%					OP		%					OP		%					OP		%					OP		%
Services	$	3			-0.3		%	$	32			0.1		%	$	10			-0.2		%	$	13			-0.2		%	$	58			-0.1		%
Enterprise Servers, Storage and Networking		32				0.3	%		29				0.5	%		39				0.5	%		39				0.4	%		139				0.4	%
HP Software		28				9.6	%		(7	)			5.9	%		16				8.8	%		10				9.1	%		47				8.4	%
HP Enterprise Business		63				0.3	%		54				0.3	%		65				0.4	%		62				0.3	%		244				0.3	%
Personal Systems Group		-				0.0	%		-				0.0	%		-				0.0	%		-				0.0	%		-				0.0	%
Imaging and Printing Group		-				0.0	%		-				0.0	%		-				0.0	%		-				0.0	%		-				0.0	%
HP Financial Services		-				0.0	%		-				0.0	%		-				0.0	%		-				0.0	%		-				0.0	%
Corporate Investments		(63	)	-172.5			%		(54	)	-155.8			%		(65	)	-151.1			%		(62	)	-125.4			%		(244	)	-149.8			%
Total segments		-							-							-							-							-
Corporate and unallocated costs and eliminations		-							-							-							-							-
Unallocated costs related to stock-based compensation expense		-							-							-							-							-
Amortization of purchased intangible assets		-							-							-							-							-
Restructuring charges		-							-							-							-							-
Acquisition-related charges		-							-							-							-							-
Interest and other, net		-							-							-							-							-
Total HP Consolidated Earnings Before Taxes	$	-						$	-						$	-						$	-						$	-

(a) Certain fiscal 2011 organizational reclassifications have been reflected retroactively to provide improved visibility and comparability. For each of the quarters in fiscal year 2009, the reclassifications resulted in the transfer of revenue and operating profit among the Enterprise Servers, Storage and Networking, Services, HP Software and Corporate Investments financial reporting segments. Reclassifications between segments included the transfer of the networking business from Corporate Investments to Enterprise Servers, Storage and Networking, the transfer of the communications and media solutions business from HP Software to Services, and the transfer of the business intelligence business from HP Software to Corporate Investments. There was no impact on the previously reported financial results for the Personal Systems Group, HP Financial Services and Imaging and Printing Group segments.

6

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
FISCAL 2010 SEGMENT / BUSINESS UNIT INFORMATION (Revised)
(Unaudited)
(In millions)
	REVISED AMOUNTS															AMOUNTS AS PREVIOUSLY REPORTED															VARIANCE
	Three months ended												Twelve months ended			Three months ended												Twelve months ended			Three months ended												Twelve months ended
	Jan. 31, 2010			Apr. 30, 2010			Jul. 31, 2010			Oct. 31, 2010			Oct. 31, 2010			Jan. 31, 2010			Apr. 30, 2010			Jul. 31, 2010			Oct. 31, 2010			Oct. 31, 2010			Jan. 31, 2010			Apr. 30, 2010			Jul. 31, 2010			Oct. 31, 2010			Oct. 31, 2010
Net revenue:(a)
Infrastructure Technology Outsourcing	$	3,675		$	3,724		$	3,692		$	3,851		$	14,942		$	3,933		$	3,998		$	3,937		$	4,095		$	15,963		$	(258	)	$	(274	)	$	(245	)	$	(244	)	$	(1,021	)
Technology Services		2,631			2,652			2,611			2,733			10,627			2,406			2,420			2,366			2,489			9,681			225			232			245			244			946
Application Services		1,681			1,684			1,664			1,763			6,792			1,509			1,512			1,501			1,601			6,123			172			172			163			162			669
Business Process Outsourcing		734			716			727			695			2,872			734			716			727			695			2,872			-			-			-			-			-
Other		69			66			78			83			296			69			66			78			83			296			-			-			-			-			-
Services		8,790			8,842			8,772			9,125			35,529			8,651			8,712			8,609			8,963			34,935			139			130			163			162			594
Industry Standard Servers		2,946			3,056			3,042			3,530			12,574			2,946			3,056			3,042			3,530			12,574			-			-			-			-			-
Storage		889			948			904			1,044			3,785			889			948			904			1,044			3,785			-			-			-			-			-
Business Critical Systems		556			538			503			695			2,292			556			538			503			695			2,292			-			-			-			-			-
HP Networking		219			295			572			619			1,705			-			-			-			-			-			219			295			572			619			1,705
Enterprise Servers, Storage and Networking(b)		4,610			4,837			5,021			5,888			20,356			4,391			4,542			4,449			5,269			18,651			219			295			572			619			1,705
Business Technology Optimization		-			-			-			-			-			591			584			581			684			2,440			(591	)		(584	)		(581	)		(684	)		(2,440	)
Other Software		-			-			-			-			-			287			287			282			290			1,146			(287	)		(287	)		(282	)		(290	)		(1,146	)
HP Software		663			653			650			763			2,729			-			-			-			-			-			663			653			650			763			2,729
HP Software(c)		663			653			650			763			2,729			878			871			863			974			3,586			(215	)		(218	)		(213	)		(211	)		(857	)
HP Enterprise Business		14,063			14,332			14,443			15,776			58,614			13,920			14,125			13,921			15,206			57,172			143			207			522			570			1,442
Notebooks		6,138			5,527			5,314			5,623			22,602			6,125			5,513			5,298			5,609			22,545			13			14			16			14			57
Desktops		3,853			3,797			3,941			3,928			15,519			3,840			3,788			3,930			3,920			15,478			13			9			11			8			41
Workstations		375			423			459			529			1,786			375			423			459			529			1,786			-			-			-			-			-
Handhelds		-			-			-			-			-			25			24			18			20			87			(25	)		(24	)		(18	)		(20	)		(87	)
Other		218			209			204			203			834			219			208			213			205			845			(1	)		1			(9	)		(2	)		(11	)
Personal Systems Group(d)		10,584			9,956			9,918			10,283			40,741			10,584			9,956			9,918			10,283			40,741			-			-			-			-			-
Supplies		4,081			4,331			4,130			4,707			17,249			4,081			4,331			4,130			4,707			17,249			-			-			-			-			-
Commercial Hardware		1,291			1,348			1,389			1,541			5,569			1,291			1,348			1,389			1,541			5,569			-			-			-			-			-
Consumer Hardware		834			717			648			747			2,946			834			717			648			747			2,946			-			-			-			-			-
Imaging and Printing Group		6,206			6,396			6,167			6,995			25,764			6,206			6,396			6,167			6,995			25,764			-			-			-			-			-
HP Financial Services		719			755			764			809			3,047			719			755			764			809			3,047			-			-			-			-			-
Corporate Investments		60			66			85			135			346			236			315			607			705			1,863			(176	)		(249	)		(522	)		(570	)		(1,517	)
Total segments		31,632			31,505			31,377			33,998			128,512			31,665			31,547			31,377			33,998			128,587			(33	)		(42	)		-			-			(75	)
Eliminations of intersegment net revenue and other		(455	)		(656	)		(648	)		(720	)		(2,479	)		(488	)		(698	)		(648	)		(720	)		(2,554	)		33			42			-			-			75
Total HP Consolidated Revenue	$	31,177		$	30,849		$	30,729		$	33,278		$	126,033		$	31,177		$	30,849		$	30,729		$	33,278		$	126,033		$	-		$	-		$	-		$	-		$	-

(a)	Certain fiscal 2011 organizational reclassifications have been reflected retroactively to provide improved visibility and comparability. For each of the quarters in fiscal year 2010, the reclassifications resulted in the transfer of revenue among the Enterprise Servers, Storage and Networking, Services, HP Software and Corporate Investments financial reporting segments. Reclassifications between segments included the transfer of the networking business from Corporate Investments to Enterprise Servers, Storage and Networking, the transfer of the communications and media solutions business from HP Software to Services, and the transfer of the business intelligence business from HP Software to Corporate Investments. In addition, revenue was transferred among the business units within the Services and Personal Systems Group segments. There was no impact o n the previously reported financial results for the HP Financial Services and Imaging and Printing Group segments or for the business units within the Imaging and Printing Group segment.
(b)	The networking business was added to the Enterprise Servers, Storage and Networking segment in fiscal 2011.
(c)	The Business Technology Optimization and Other Software business units were consolidated into a single business unit within the HP Software segment in fiscal 2011.
(d)	The Handhelds business unit, which includes devices that run on Windows Mobile software, was reclassified into the Other business unit within the Personal Systems Group in fiscal 2011.

7

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
FISCAL 2009 SEGMENT / BUSINESS UNIT INFORMATION (Revised)
(Unaudited)
(In millions)
	REVISED AMOUNTS															AMOUNTS AS PREVIOUSLY REPORTED															VARIANCE
	Three months ended												Twelve months ended			Three months ended												Twelve months ended			Three months ended												Twelve months ended
	Jan. 31, 2009			Apr. 30, 2009			Jul. 31, 2009			Oct. 31, 2009			Oct. 31, 2009			Jan. 31, 2009			Apr. 30, 2009			Jul. 31, 2009			Oct. 31, 2009			Oct. 31, 2009			Jan. 31, 2009			Apr. 30, 2009			Jul. 31, 2009			Oct. 31, 2009			Oct. 31, 2009
Net revenue(a)
Infrastructure Technology Outsourcing	$	3,614		$	3,524		$	3,651		$	3,774		$	14,563		$	3,843		$	3,762		$	3,906		$	4,043		$	15,554		$	(229	)	$	(238	)	$	(255	)	$	(269	)	$	(991	)
Technology Services		2,678			2,651			2,632			2,704			10,665			2,453			2,418			2,389			2,459			9,719			225			233			243			245			946
Application Services		1,807			1,744			1,614			1,761			6,926			1,632			1,541			1,442			1,579			6,194			175			203			172			182			732
Business Process Outsourcing		754			719			719			785			2,977			754			719			719			785			2,977			-			-			-			-			-
Other		65			60			64			60			249			65			60			64			60			249			-			-			-			-			-
Services		8,918			8,698			8,680			9,084			35,380			8,747			8,500			8,520			8,926			34,693			171			198			160			158			687
Industry Standard Servers		2,322			1,989			2,316			2,669			9,296			2,322			1,989			2,316			2,669			9,296			-			-			-			-			-
Storage		913			818			824			918			3,473			913			818			824			918			3,473			-			-			-			-			-
Business Critical Systems		714			650			595			631			2,590			714			650			595			631			2,590			-			-			-			-			-
HP Networking		194			188			191			189			762			-			-			-			-			-			194			188			191			189			762
Enterprise Servers, Storage and Networking(b)		4,143			3,645			3,926			4,407			16,121			3,949			3,457			3,735			4,218			15,359			194			188			191			189			762
Business Technology Optimization		-			-			-			-			-			594			568			563			660			2,385			(594	)		(568	)		(563	)		(660	)		(2,385	)
Other Software		-			-			-			-			-			284			312			284			307			1,187			(284	)		(312	)		(284	)		(307	)		(1,187	)
HP Software		660			633			629			733			2,655			-			-			-			-			-			660			633			629			733			2,655
HP Software(c)		660			633			629			733			2,655			878			880			847			967			3,572			(218	)		(247	)		(218	)		(234	)		(917	)
HP Enterprise Business		13,721			12,976			13,235			14,224			54,156			13,574			12,837			13,102			14,111			53,624			147			139			133			113			532
Notebooks		4,910			4,708			4,807			5,798			20,223			4,907			4,706			4,803			5,794			20,210			3			2			4			4			13
Desktops		3,311			2,986			3,106			3,489			12,892			3,308			2,977			3,098			3,481			12,864			3			9			8			8			28
Workstations		333			287			299			342			1,261			333			287			299			342			1,261			-			-			-			-			-
Handhelds		-			-			-			-			-			57			47			32			36			172			(57	)		(47	)		(32	)		(36	)		(172	)
Other		238			229			229			233			929			187			193			209			209			798			51			36			20			24			131
Personal Systems Group(d)		8,792			8,210			8,441			9,862			35,305			8,792			8,210			8,441			9,862			35,305			-			-			-			-			-
Supplies		4,050			4,103			3,949			4,430			16,532			4,050			4,103			3,949			4,430			16,532			-			-			-			-			-
Commercial Hardware		1,239			1,193			1,085			1,261			4,778			1,239			1,193			1,085			1,261			4,778			-			-			-			-			-
Consumer Hardware		692			620			626			763			2,701			692			620			626			763			2,701			-			-			-			-			-
Imaging and Printing Group		5,981			5,916			5,660			6,454			24,011			5,981			5,916			5,660			6,454			24,011			-			-			-			-			-
HP Financial Services		636			641			670			726			2,673			636			641			670			726			2,673			-			-			-			-			-
Corporate Investments		45			44			48			54			191			196			188			193			191			768			(151	)		(144	)		(145	)		(137	)		(577	)
Total segments		29,175			27,787			28,054			31,320			116,336			29,179			27,792			28,066			31,344			116,381			(4	)		(5	)		(12	)		(24	)		(45	)
Eliminations of intersegment net revenue and other		(368	)		(404	)		(469	)		(543	)		(1,784	)		(372	)		(409	)		(481	)		(567	)		(1,829	)		4			5			12			24			45
Total HP Consolidated Revenue	$	28,807		$	27,383		$	27,585		$	30,777		$	114,552		$	28,807		$	27,383		$	27,585		$	30,777		$	114,552		$	-		$	-		$	-		$	-		$	-

(a)	Certain fiscal 2011 organizational reclassifications have been reflected retroactively to provide improved visibility and comparability. For each of the quarters in fiscal year 2009, the reclassifications resulted in the transfer of revenue among the Enterprise Servers, Storage and Networking, Services, HP Software and Corporate Investments financial reporting segments. Reclassifications between segments included the transfer of the networking business from Corporate Investments to Enterprise Servers, Storage and Networking, the transfer of the communications and media solutions business from HP Software to Services, and the transfer of the business intelligence busine ss from HP Software to Corporate Investments. In addition, revenue was transferred among the business units within the Services and Personal Systems Group segments. There was no impact on the previously reported financial results for the HP Financial Services and Imaging and Printing Group segments or for the business units within the Imaging and Printing Group segment.
(b)	The networking business was added to the Enterprise Servers, Storage and Networking segment in fiscal 2011.
(c)	The Business Technology Optimization and Other Software business units were consolidated into a single business unit within the HP Software segment in fiscal 2011.
(d)	The Handhelds business unit, which includes devices that run on Windows Mobile software, was reclassified into the Other business unit within the Personal Systems Group in fiscal 2011.

8