Hewlett Packard Enterprise Earnings: HPE Stock Gains 5% on Strong Q3 Results

Hewlett Packard Enterprise (NYSE:HPE) earnings for the tech company’s fiscal third quarter of 2020 have HPE stock heading higher after hours Tuesday. That’s thanks to the company’s adjusted earnings per share of 32 cents blowing past Wall Street’s estimate of 23 cents. Its revenue of $6.82 billion also easily beats analysts’ estimates of $6.06 billion.

Image of a Hewlett Packard Enterprise (HPE) sign on a building outside

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Here are some additional highlights from the most recent Hewlett Packard Enterprise earnings report.

  • Adjusted per-share earnings are down 28.9% from 45 cents in the same period of the year prior.
  • Revenue for the quarter is sitting 6% lower than the $7.22 billion reported in fiscal Q3 2019.
  • Operating income of $12 million is a positive change year-over-year from an operating loss of $76 million.
  • The Hewlett Packard Enterprise earnings report also has net income coming in at $9 million.
  • That’s much better than the company’s net loss of $27 million from the same time last year.

Antonio Neri, president and CEO of Hewlett Packard Enterprise, said this about the earnings report.

“Our Q3 results are marked by strong execution and sequential growth. We significantly improved operational and supply chain execution and advanced our innovation agenda with the introduction of HPE GreenLake cloud services solutions, our new HPE Ezmeral software portfolio, and our planned acquisition of SD-WAN leader Silver Peak.”

Hewlett Packard Enterprise also discusses guidance in its fiscal Q3 earnings report. It’s expecting adjusted EPS for the fiscal full year of 2020 to range from $1.30 to $1.34. That’s a strong outlook next to Wall Street’s adjusted EPS estimate of $1.20 for the period.

HPE stock was up 4.9% after-hours Tuesday but closed out normal trading hours down 3%.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/08/hewlett-packard-enterprise-earnings-boost-hpe-stock/.

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