By Christy Paavola, CARLY for America Research Director
Date: June 24, 2015
During Carly Fiorina’s tenure as CEO of Hewlett-Packard…
Revenues Nearly Doubled to More Than $80 Billion.
Revenue For The Four Quarters Prior To Carly’s Arrival At HP Was $40.17 Billion. Revenue For The Last Four Quarters She Was At HP Was $81.85 Billion. (Hewlett Packard CO – HPQ, SEC Form 10-K, 1999, Filed 1/27/00; Hewlett Packard CO – HPQ, SEC Form 10-K, 2004, Filed 1/14/05; Hewlett Packard CO-HPQ, SEC Form 10-Q, Period January 31, 2005, Filed 3/11/05)
Even When Adjusted for Inflation, HP’s Revenue Grew By Nearly 50 Percent During Carly’s Tenure. In Quarter 2 Of 1999, HP’s Revenue Was $14.6 Billion, Adjusted for Inflation And Grew To $21.5 Billion In Quarter 1 Of 2005, An Increase Of 47 Percent. (Hewlett Packard CO-HPQ, SEC Form 10-Q, Period: April 30,1999, Filed 6/11/99; Hewlett Packard CO-HPQ, SEC Form 10-Q, Period 1/31/05, Filed 3/11/05)
Carly Tripled Innovation.
When Fiorina Began At HP, HP Had 10,000 Patents In Their Portfolio. In 2005, HP Had 30,000 Patents In Their Portfolio. (“HP’s Stock Roared As Fiorina Launched A New Brand And TV Campaign,” 3000 Newswire, December 1999; HP, 2005 Annual Report, Filed 12/16/15)
The Number Of Patents Per Working Day Tripled From Five In 1999 To 15 In 2004. (“HP’s Stock Roared As Fiorina Launched A New Brand And TV Campaign,” 3000 Newswire, December 1999; Hewlett Packard Company CO-HPQ, SEC Form 10-K, Filed 1/14/05)
Carly Quadrupled Cash Flow.
On July 31, 1999 HP’s Cash Flow Was 201.00 Million And On January 31, 2005 Cash Flow Was $983.00 Million. (Hewlett-Packard Free Cash Flow (Quarterly), YCharts, Accessed 5/28/11)
HP Became The 11th Largest Company In The United States During Carly’s Tenure.
In 2004, HP Was 11th On The Fortune 500 List, Up From 13th In 1999. (“Fortune 500 1999” fortune.com, Accessed 5/19/15;”Fortune 500 2004,” fortune.com, Accessed 4/6/15)
In 2004, HP’s Growth Was More Than Double The Growth Of The U.S. Economy.
In 2004, HP Grew Revenues At 6.8 Percent While The U.S. GDP Grew At 2.5 Percent. (Hewlett Packard Company CO-HPQ, SEC Form 10-K, Filed 1/14/05; Economic Research, Federal Reserve Bank Of St. Louis, Accessed 5/19/15)
When Carly Left HP, Revenue Growth Was Growing More Than Four Times As Fast As When She Started, With The Growth Rate Growing From 1.2 Percent Adjusted For Inflation To 6.5 Percent.
Prior To Carly, Revenue Growth In The Four Quarters Before She Was Hired Was An Anemic 1.2 Percent Adjusted For Inflation. (Hewlett Packard CO-HPQ, SEC Form 10-Q, Period: January 31, 1999, Filed 2/26/99; Hewlett Packard CO-HPQ; SEC Form 10-Q, Period: April 30, 1999, Filed 6/11/99; Hewlett Packard CO-HPQ, SEC Form 10-K,, 1/15/99; Hewlett Packard CO-HPQ, SEC Form-10K, Filed 1/27/98)
When Carly Left HP, Revenue Growth For The Last Four Quarters She Was At HP Compared To The Previous Four Quarters Was 6.5% Adjusted For Inflation. (Hewlett Packard Company CO-HPQ, SEC Form 10-K, Filed 1/20/04; Hewlett Packard Company CO-HPQ, SEC Form 10-K, Filed 1/14/05; Hewlett Packard Company CO-HPQ, SEC Form 10-K, Filed 12/21/05)
