HP restates Q2 income


6 June 2006 — Palo Alto (CA): Hewlett-Packard has restated its Q2 profit by a near half-billion dollars after settling a tax case with the US government.
An agreement with the US Internal Revenue Service was reached at the beginning of the month and relates to an audit of the company’s returns from 1996 to 1998.
The adjusted Q2 net income is now a reported $1.9 billion from the previous amount of $1.5 billion.