Hewlett-Packard Gets Back $443 Million Back From The IRS
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Hewlett-Packard settled a tax audit with the Internal Revenue Service and said the resulting $443 million gain will be added to the second-quarter earnings it reported three we eks ago. NICE!!!
As a result, the computer giant now says it earned $1.9 billion, or 66 cents a share, in the quarter ended April 30, up from a previously reported $1.5 billion, or 51 cents a share. Earnings before various items rose to 69 cents a share from a previously reported 54 cents a share. Hewlett-Packard said the revision was necessary because it signed the settlement June 1, after the end of the end of the second quarter but before it filed its 10-Q for the period.
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