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HPE quarterly earnings beat past estimates

Hewlett Packard Enterprise Co. on Tuesday reported better-than-expected quarterly sales and revenue according to Street estimates, although the stock fell about 2% in after-hours trading.

The company
HPE,
-1.78%

reported fourth-quarter net income of $2.55 billion, or $1.91 a share, compared with net income of $157 million, or 12 cents a share, for the same quarter a year. prior to. HPE said adjusted earnings were 52 cents a share, up from 41 cents a share in the last quarter.

Revenue rose 2% to $7.35 billion from $7.2 billion a year ago.

HPE Chief Financial Officer Tarek Robbiati told MarketWatch in a phone interview shortly after the results were released: “It was a great quarter in terms of demand, and we managed the constraints well in the period. supply chain. “It’s a nice springboard for the next financial year.” He said supply chain problems will last until mid-2022.

Computer revenue ($3.2 billion, up 1%) and storage ($1.3 billion, up 3%) led the way. Intelligent Edge’s revenue was $815 million, up 4% year-over-year.

Analysts surveyed by FactSet had expected net income of 48 cents a share on revenue of $7.38 billion.

HPE shares are up 21% in 2021. The broader S&P 500 SPX up 22% this year.

https://www.marketwatch.com/story/hpes-quarterly-earnings-blow-past-estimates-11638306416?rss=1&siteid=rss HPE quarterly earnings beat past estimates

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