Hewlett Packard Enterprise Company HPE just released its 2017 first quarter financial results, posting earnings of 45 cents per share and revenues of $11.4 billion.
Currently, Hewlett Packard Enterprise is a Zacks Rank #3 (Hold), and is down 6.65% to $23.02 per share in trading shortly after its earnings report was released.
Beat earnings estimates. The company posted earnings of 45 cents per share (excluding 29 cents from non-recurring items), beating the Zacks Consensus Estimate of 44 cents per share.
Missed revenue estimates. The company saw revenue figures of $11.4 billion, missing our consensus estimate $12.13 billion.
The tech company experienced a 10% fall from $12.7 billion to $11.4 billion year over year as their earnings per share went up by 10% to 45 cents per share.
The company’s profit during the three months ended January 31, 2017 remained flat year over year at $267 million.
Hewlett Packard believed that three significant headwinds have developed since the company provided its original fiscal 2017 outlook in October 2016. The company experienced increased pressure form foreign exchange movements, higher commodities pricing, and some near-term execution issues. As a result, they are reducing the 2017 outlook by 12 cents in order to continue make appropriate investments to secure long-term success of the business.
“I believe HPE remains on the right track,” said Meg Whitman, President and CEO of Hewlett Packard Enterprise. “The steps we’re taking to strengthen our portfolio, streamline our organization, and build the right leadership team, are setting us up to win long into the future.”
Here’s a graph that looks at HPE:
Hewlett Packard Enterprise Company Price and Consensus
Hewlett Packard Enterprise Company Price and Consensus | Hewlett Packard Enterprise Company Quote
Hewlett Packard Enterprise Company was spun-off from the Hewlett-Packard Company in November 2015. The company operates in four segments: Enterprise Services, Enterprise Group, Software and Financial Services. The Enterprise Group is the company's largest revenue contributor, accounting for more than half of total revenues. This segment offers servers, management software, converged infrastructure solutions and technology services; hybrid cloud solutions, business critical systems and storage products. The Software segment offers software to capture, store, explore, analyze, protect and share information and insights within and outside organizations; enterprise security, application delivery management, IT operations management software products. The Enterprise Services segment offers consulting, outsourcing and support services across infrastructure, applications and business process domains; application and business services. The company is headquartered in Palo Alto, California.
Check back later for our full analysis on Hewlett Packard Enterprise Company’s earnings report!
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