Hewlett Packard Enterprise Co.’s profit and revenue grew last quarter, and executives on Tuesday predicted more earnings growth to round out the fiscal year.
reported fiscal third-quarter earnings of $409 million, or 31 cents a share, on revenue of $7 billion, up from $6.9 billion a year ago. After adjusting for stock-based compensation, “disaster charges” and some other effects, HPE reported earnings of 48 cents a share, slightly higher than adjusted earnings of 47 cents a share a year ago. Analysts on average expected adjusted earnings of 48 cents a share on sales of $6.93 billion, according to FactSet.
For the final quarter of HPE’s fiscal year, executives guided for adjusted earnings of 52 cents to 60 cents a share, after producing adjusted earnings of 52 cents a share in the fiscal fourth quarter a year ago. Analysts on average were predicting adjusted earnings of 58 cents a share, according to FactSet.
HPE execs slightly changed their annual guidance for adjusted earnings, taking down the top end of their range to $2.04 a share from $2.10 a share while keeping $1.96 a share as the low end of the range. Analysts on average were expecting $2.02 a share this year in adjusted earnings, according to FactSet.
Shares dipped less than 0.3% in after-hours trading immediately following the release of the results, after closing with a 0.5% decrease at $13.65. The stock has outperformed the S&P 500 index
so far this year, falling 13.4% as the index declined 15.4%.