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HP Enterprise tops 1Q profit forecasts

PALO ALTO, Calif. (AP) _ Hewlett Packard Enterprise Co. (HPE) on Thursday reported fiscal first-quarter profit of $267 million.

On a per-share basis, the Palo Alto, California-based company said it had profit of 16 cents. Earnings, adjusted for one-time gains and costs, were 45 cents per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The information technology products and services provider posted revenue of $11.41 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $12.13 billion.

For the current quarter ending in May, HP Enterprise expects its per-share earnings to range from 41 cents to 45 cents.

The company expects full-year earnings in the range of $1.88 to $1.98 per share.

HP Enterprise shares have climbed almost 7 percent since the beginning of the year.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HPE at https://www.zacks.com/ap/HPE

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Keywords: Hewlett Packard Enterprise, Earnings Report