Hewlett-Packard Restates Cash Flow
Hewlett-Packard Co. restated first-quarter cash flow from operations, lowering it 18% because of an accounting error. Cash flow from operations, or actual cash generated from running the business, was $647 million, the world’s second-largest computer maker said in a regulatory filing. Hewlett-Packard said it had $791 million when it reported results Feb. 25 and had $1.72 billion a year earlier.
Hewlett-Packard shifted $144 million to net cash used in investing activities from cash flow from operations, spokeswoman Rebeca Robboy said. “The data was mistakenly captured in the wrong category and is now in the right category,” Robboy said. “This causes no change in total net cash flow, no change in revenue and no change in earnings.”