U.S. Markets closed

Hewlett Packard Enterprise Co (HPE) Revenue Rises Y/Y, CEO Steps Down

Karl Utermohlen

Hewlett Packard Enterprise Co (NYSE:HPE) posted its fourth-quarter results after the bell Tuesday.

Hewlett Packard Enterprise Co (HPE)

Source: Hewlett-Packard Enterprise

The company posted earnings of 23 cents per share, four cents higher than the year-ago mark. On an adjusted basis, Hewlett Packard Enterprise earned 29 cents per share, ahead of the Zacks Consensus Estimate of 28 cents per share and rising 26.1% compared to the year-ago mark.

On the revenue front, the enterprise information technology company posted revenue of $7.66 billion, a 4.6% improvement compared to the year-ago quarter of $7.32 billion. The figure came in below the Zacks Consensus Estimate of $7.71 billion.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

The company’s Enterprise Group was nearly flat from the year-ago quarter to $6.8 billion, while revenues from servers were down 5%. HPE added that its Storage, Networking and Technology Services surged 5%, 21% and 2%, respectively.

For the full-year 2017, the company’s non-GAAP net earnings were 96 cents per share, below the company’s guidance of $1.36 to $1.40 per share. The figure fell 11.9% compared to the year-ago mark.

CEO Meg Whitman also stepped down from her role as of Feb. 1, 2018 and potentially go over to a rival. HPE current president Antonio Neri will take over for Whitman.

She said that she will remain as part of the board and added that she will not be running for office.

For the first quarter of fiscal 2018, the company expects adjusted earnings in the range of 20 cents to 24 cents per share, below the Zacks Consensus Estimate of 27 cents per share.

HPE stock fell 6.5% Wednesday.

More From InvestorPlace

The post Hewlett Packard Enterprise Co (HPE) Revenue Rises Y/Y, CEO Steps Down appeared first on InvestorPlace.