Hewlett Packard Enterprise (NYSE:HPE) earnings for fiscal second quarter of 2020 have HPE stock taking a beating after-hours Thursday. That’s thanks to its adjusted earnings per share (EPS) of 22 cents and revenue of $6.01 billion. These are both below Wall Street’s estimates of 30 cents and $6.32 billion.
Here’s what else is worth mentioning from the most recent Hewlett Packard Enterprise earnings report.
- Adjusted per-share earnings are 47.6% lower than the 42 cents reported in fiscal Q2 2019.
- Revenue for the quarter is down 15.9% compared to $7.15 billion in the same period of the year prior.
- Operating loss of $834 million is much worse year-over-year than an operating income of $434 million.
- The Hewlett Packard Enterprise earnings also have net loss sitting at $821 million.
- That’s a negative switch from the company’s net income of $419 million during the same time last year.
Antonio Neri, President and CEO of Hewlett Packard Enterprise, said this about the fiscal Q2 earnings report:
“The global economic lockdowns since February significantly impacted our fiscal Q2 financial performance. We exited Q2 with $1.5 billion dollars in orders across the portfolio, representing two times the average historical backlog.”
Hewlett Packard Enterprise isn’t providing a guidance update in its report. The company withdrew its previous guidance in April due to the novel coronavirus. That’s a common trend among companies in light of the pandemic hampering the economy.
HPE stock was down 5.4% after markets closed on Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.