Summary of HEWLETT PACKARD CO

Results of Operations and Financial Condition, Financial Statements and Exhibi

Item 2.02 Results of Operations and Financial Condition.

On May 19, 2009, Hewlett-Packard Company ("HP") issued a press release relating to its fiscal quarter ended April 30, 2009 entitled "HP Reports Second Quarter 2009 Results." The text of this press release, with the related GAAP consolidated condensed statements of earnings, GAAP consolidated condensed balance sheets, adjustments to certain GAAP financial information, GAAP consolidated condensed statements of cash flows, certain segment and business unit financial results, and certain additional financial information, is furnished herewith as Exhibit 99.1. The information in Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the "Securities Act") solely as a result of being included in Exhibit 99.1.

HP's GAAP consolidated condensed statements of earnings, GAAP consolidated condensed balance sheets and certain segment financial results for the fiscal quarter ended April 30, 2009 also are filed herewith as Exhibit 99.2. The information in Exhibit 99.2 is filed for purposes of Section 18 of the Exchange Act and therefore may be incorporated by reference into filings under the Securities Act.

To supplement HP's consolidated condensed financial statements presented on a GAAP basis, HP provides non-GAAP operating profit, non-GAAP operating margin, non-GAAP net earnings, non-GAAP diluted earnings per share and gross cash. HP also provides forecasts of non-GAAP diluted earnings per share. A reconciliation of the adjustments to GAAP results for HP's fiscal quarter ended April 30, 2009 and prior periods is included in the tables that are a part of Exhibit 99.1. In addition, an explanation of the ways in which HP management uses these non-GAAP measures to evaluate its business, the substance behind HP management's decision to use these non-GAAP measures, the material limitations associated with the use of these non-GAAP measures, the manner in which HP management compensates for those limitations, and the substantive reasons why HP management believes that these non-GAAP measures provide useful information to investors is included under "Use of Non-GAAP Financial Information" in Exhibit 99.1. This additional non-GAAP financial information is not meant to be considered in isolation or as a substitute for operating profit, operating margin, net earnings, diluted earnings per share, or cash and cash equivalents prepared in accordance with GAAP.

Item 9.01 Financial Statements and Exhibits.

Exhibit Number Description

Exhibit 99.1   Text of HP's press release relating to its fiscal quarter
               ended April 30, 2009, entitled "HP Reports Second Quarter 2009
               Results," with the related GAAP consolidated condensed statements
               of earnings, GAAP consolidated condensed balance sheets,
               adjustments to certain GAAP financial information, GAAP
               consolidated condensed statements of cash flows, segment financial
               results, business unit revenue, and certain additional financial
               information (furnished herewith).

Exhibit 99.2   HP's GAAP consolidated condensed statements of earnings, GAAP
               consolidated condensed balance sheets, and segment information for
               its fiscal quarter ended April 30, 2009 (filed herewith).