EXHIBIT 99.2

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
(Unaudited)
(In millions except per share amounts)
	Three months ended
	January 31, 2011			October 31, 2010			January 31, 2010
Net revenue	$	32,302		$	33,278		$	31,177
Costs and Expenses: (a)
Cost of sales		24,408			24,995			24,027
Research and development		798			814			681
Selling, general and administrative		3,090			3,464			2,967
Amortization of purchased intangible assets		425			424			330
Restructuring charges		158			235			131
Acquisition-related charges		29			51			38
Total costs and expenses		28,908			29,983			28,174
Earnings from operations		3,394			3,295			3,003
Interest and other, net		(97	)		(81	)		(199	)
Earnings before taxes		3,297			3,214			2,804
Provision for taxes		692			676			554
Net earnings	$	2,605		$	2,538		$	2,250
Net earnings per share:
Basic	$	1.19		$	1.13		$	0.95
Diluted	$	1.17		$	1.10		$	0.93
Cash dividends declared per share	$	0.16		$	-		$	0.16
Weighted-average shares used to compute net earnings per share:
Basic		2,182			2,249			2,358
Diluted		2,226			2,297			2,427

(a) In connection with organizational realignments implemented in the first quarter of 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
CONSOLIDATED CONDENSED BALANCE SHEETS
(In millions)
	January 31, 2011		October 31, 2010
	(unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	9,934	$	10,929
Accounts receivable		16,552		18,481
Financing receivables		2,982		2,986
Inventory		6,747		6,466
Other current assets		15,189		15,322
Total current assets		51,404		54,184
Property, plant and equipment		11,575		11,763
Long-term financing receivables and other assets		11,017		12,225
Goodwill and purchased intangible assets		45,937		46,331
Total assets	$	119,933	$	124,503
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Notes payable and short-term borrowings	$	3,381	$	7,046
Accounts payable		13,453		14,365
Employee compensation and benefits		2,976		4,256
Taxes on earnings		789		802
Deferred revenue		6,927		6,727
Other accrued liabilities		16,084		16,207
Total current liabilities		43,610		49,403
Long-term debt		17,022		15,258
Other liabilities		17,754		19,061
Stockholders' equity:
HP stockholders' equity		41,206		40,449
Noncontrolling interests		341		332
Total stockholders' equity		41,547		40,781
Total liabilities and stockholders' equity	$	119,933	$	124,503

2

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
SEGMENT INFORMATION
(Unaudited)
(In millions)
	Three months ended
	January 31, 2011			October 31, 2010			January 31, 2010
Net revenue:(a)
Services	$	8,607		$	9,125		$	8,790
Enterprise Servers, Storage and Networking		5,634			5,888			4,610
HP Software		697			763			663
HP Enterprise Business		14,938			15,776			14,063
Personal Systems Group		10,449			10,283			10,584
Imaging and Printing Group		6,630			6,995			6,206
HP Financial Services		827			809			719
Corporate Investments		78			135			60
Total Segments		32,922			33,998			31,632
Eliminations of intersegment net revenue and other		(620	)		(720	)		(455	)
Total HP Consolidated Revenue	$	32,302		$	33,278		$	31,177
Earnings from operations:(a)
Services	$	1,375		$	1,500		$	1,379
Enterprise Servers, Storage and Networking		828			888			607
HP Software		123			261			172
HP Enterprise Business		2,326			2,649			2,158
Personal Systems Group		672			568			530
Imaging and Printing Group		1,129			1,220			1,054
HP Financial Services		79			73			67
Corporate Investments		(183	)		(157	)		(56	)
Total Segments		4,023			4,353			3,753
Corporate and unallocated costs and eliminations		149			(239	)		(88	)
Unallocated costs related to stock-based compensation expense		(166	)		(109	)		(163	)
Amortization of purchased intangible assets		(425	)		(424	)		(330	)
Restructuring charges		(158	)		(235	)		(131	)
Acquisition-related charges		(29	)		(51	)		(38	)
Interest and other, net		(97	)		(81	)		(199	)
Total HP Consolidated Earnings Before Taxes	$	3,297		$	3,214		$	2,804

(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. 

3