Hewlett Packard Enterprise Stock Rises on Q3 EPS Beat
Hewlett Packard Enterprise (NYSE:HPE) stock was gaining after hours Tuesday as the company reported its latest quarterly earnings results late in the day, which included an earnings and revenue beat.
Source: Hewlett-Packard Enterprise
The Palo Alto, Calif.-based company said that for its third quarter of fiscal 2018, it amassed net income of $451 million, roughly 29 cents per share. This figure was more than twice as large as the company’s net income from the year-ago quarter, which came in at $165 million, or 10 cents per share.
On an adjusted basis, Hewlett Packard Enterprise brought in earnings of 44 cents per share, which excluded certain items. The Wall Street consensus estimate was calling for the company to bring in adjusted earnings of 37 cents per share, according to data compiled by FactSet.
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Revenue was also strong during the company’s third quarter as it tallied up sales of $7.76 billion. The figure was a 3.47% gain compared to the $7.5 billion in sales Hewlett Packard Enterprise brought in during the year-ago quarter.
Analysts were calling for the company to bring in revenue of $7.62 billion, according to data compiled by FactSet in its survey of analysts. For its fourth quarter of the fiscal year, the company is calling for adjusted earnings in the range of 39 cents to 44 cents per share, in line with analysts’ forecast of 42 cents per share.
HPE stock was up about 1.8% during regular trading hours on Tuesday in anticipation of the company’s quarterly earnings report. Shares were up an additional 1.9% after the bell as the company’s results topped analysts’ expectations.
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