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Hewlett Packard Enterprise Gains on Higher Forecast, Share Buyback

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By Dhirendra Tripathi

Investing.com – Hewlett Packard Enterprise stock (NYSE:HPE) rose 0.7% Friday as the company revised its forecast again for the year and reinstated its repurchase program to target shares worth up to $250 million by end of next month.

The company also declared a regular cash dividend of 12 cents per share.

Most segments reported a gain in revenue. Order momentum for the company was strong as companies asked for secure connectivity and faster data analysis and interpretation along with a Cloud experience.

The company now expects its adjusted earnings per share for the year around $1.92 at midpoint, up 2% from the previous forecast. It also expects a higher cash flow for the year.

This marks the fourth increase in the company’s outlook since its meeting with analysts in October 2020.

Revenue in the third quarter rose 1% to $6.9 billion. Annualized revenue run-rate rose by a third to $705 million. Adjusted profit per share jumped 31% to 47 cents. Both revenue and earnings beat estimates.

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