U.S. stocks experienced meager gains on Tuesday on a poor day for healthcare stocks, which slipped 1.4%. The S&P 500 Index surged 0.2%, the Dow Jones Industrial Average crawled 0.4% higher and the Nasdaq Composite edged 0.3% higher.
Earnings was the news of the afternoon, with companies such as Hewlett Packard Enterprise Co (NYSE:HPE), HP Inc (NYSE:HPQ) and Veeva Systems Inc (NYSE:VEEV) leading the charge. Here’s how they did:
Hewlett Packard Enterprise (HPE)
Hewlett Packard Enterprise shares were falling as the company posted its most recent quarterly earnings data.
The tech company said non-GAAP earnings were 17% higher, coming in at 61 cents per share in the three months ended Oct. 31. Analysts were calling for earnings of 60 cents a share.
As far as revenue goes, Hewlett Packard Enterprise raked in $12.5 billion over the course of the period, marking a year-over-year decline of 7%. Wall Street was calling for revenue of $12.8 billion.
2016 marked the company’s first year as a standalone company since the original company split into two publicly traded corporations. Financial performance is slated to be even better over the coming year.
For its current period, the company expects to bring in 44 cents per share, which is lower than expectations of 46 cents a share.
HPE stock lost 1.8% after hours Tuesday.
HP Inc (HPQ)
HP also revealed how much it earned in its most recent period.
The other company that bears the Hewlett Packard name earned 30 cents a share, or 36 cents a share excluding one-time items. Analysts surveyed by FactSet were calling for earnings of 37 cents per share.
The company brought in $12.5 billion in net sales, which was better than the $12.3 billion it made a year ago. The consensus estimate called for revenue of $11.8 billion.
PC sales were a strong point for HP as they rose 4% year-over-year, coming in at $8.02 billion. Sales to consumers were even better, surging 7% over the same period, while business PC sales were up 3%.
For the first quarter of the current fiscal year, the company is slated to earn between 35 cents and 38 cents per share. Analysts are calling for earnings of 38 cents per share.
HPQ shares declined 2.3% after the bell yesterday.
Veeva Systems Inc (VEEV)
Veeva Systems reported its third quarter results Tuesday.
The company earned $21.6 million, or 15 cents per share on an adjusted basis. The figure fell just below of the 16 cents per share that Wall Street was expecting.
Revenue came in at $142.8 million, which was better than what analysts predicted. The consensus estimate called for net sales of $135.6 million.
For its current quarter, Veeva Systems is slated to earn 17 cents per share. Revenue will likely be in the range of $538.9 million and $539.9 million.
VEEV stock was 5.9% higher after Tuesday’s market close.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
