Ink cartridge producer HP reported a profit of $200m on total sales of $32.1bn for the quarter ending 31 October 2011, a 91% drop in profit. The figures are the first since new chief executive Meg Whitman took over.

Ms Whitman has embarked on a series of widely criticised moves, including cancelling HP's plans to compete in the tablet and smartphone market with the WebOS software. Resulting in a $3.3bn loss.

Ms Whitman was also criticised for plans to spin off HP's PC division, a decision she eventually reversed.

Posted by Anya Hawke.