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Hewlett Packard Enterprise Co Stock Gains Slightly on Q2 Earnings Beat

Hewlett Packard Enterprise Co (NYSE:HPE) reported its latest quarterly earnings results after the bell on Tuesday, which came in well ahead of Wall Street’s expectations.

The company’s stock moved slightly upward as it announced that for its second quarter of fiscal 2018, it brought in net income of $778 million, roughly coming in at 49 cents per share. In the year-ago quarter, the company posted a loss of $612 million, or roughly 37 cents per share.

On an adjusted basis, Hewlett Packard Enterprise raked in adjusted earnings of 34 cents per share, which was better than the Wall Street consensus estimate of adjusted earnings of 31 cents per share, according to data compiled by FactSet.

The company saw a revenue increase as the figure went up to $7.47 billion from $6.81 billion during the year-ago period. Wall Street announced that it was calling for revenue of $7.39 billion, according to a survey conducted by FactSet.

For its third quarter of fiscal 2018, Hewlett Packard Enterprise predicts that it will bring in adjusted earnings in the range of 35 cents to 39 cents per share, compared to analysts’ expectations of 36 cents per share in adjusted earnings.

For the full year, Hewlett Packard Enterprise is calling for adjusted earnings in the range of $1.40 to $1.50 per share. Analysts predict that the company will bring in adjusted earnings of $1.41 per share.

HPE stock was down 0.5% during regular trading hours Tuesday, but gained 0.1% after the bell Tuesday.

Article printed from InvestorPlace Media,

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