Hewlett Packard Enterprise Jumps 15% In Pre-market On Upbeat Q2 Results, Raised Outlook

(RTTNews) - Shares of Hewlett Packard Enterprise Company (HPE) were rising more than 15 percent in pre-market on Wednesday to $20.32, after reporting better-than-expected second-quarter results helped by growth in AI systems revenue. The company also raised its full-year earnings outlook.

Excluding one-time items, HPE posted earnings of $561 million or $0.42 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.39 per share.

Net income was $314 million, or $0.24 per share, down from $418 million, or $0.32 per share, in last year's second quarter.

Revenue for the quarter rose 3.3% to $7.20 billion from $6.97 billion last year. Analysts were expecting for revenue of $6.82 billion.

For the full year, HPE now expects adjusted EPS in the range of $1.85 - $1.95, up from the previous outlook of $1.82 and $1.92. The consensus estimate stands at $1.88 per share.

HPE shares had closed at $17.60, down 1.95 percent. The stock has traded in the range of $14.47 - $20.07 in the last 1 year.