Hewlett Packard Enterprise Q4 Tops Wall Street Estimates

(RTTNews) - Hewlett Packard Enterprise (HPE) Tuesday reported an adjusted profit for the fourth quarter that trumped Wall Street estimates, as revenues grew nearly 4% and also came in above expectations.

Palo Alto, California-based Hewlett reported second-quarter loss of $757 million or $0.52 per share, compared to a profit of $524 million or $0.32 per share last year.

On an adjusted basis, earnings were $665 million or $0.45 per share, up from $503 million or $0.31 per share last year. On average, 20 analysts polled by Thomson Reuters estimated earnings of $0.43 per share for the quarter.

Revenues for the quarter rose to 4% $7.95 billion from $7.66 billion last year. Analysts had a consensus revenue estimate of $7.84 billion for the quarter.

"Hewlett Packard Enterprise delivered another impressive quarter in Q4, concluding a very successful fiscal year 2018 marked by significant transformation and achievement," said Antonio Neri, President and CEO of HPE.

Looking forward to the first quarter, Hewlett Packard estimates adjusted earnings of $0.33 to $0.37 per share. For fiscal 2019, Hewlett Packard Enterprise now estimates adjusted earnings of $1.51 to $1.61 per share. Analysts currently estimate earnings of $0.35 per share and $1.59 per share for the first quarter and full year, respectively.

HPE closed Tuesday's trading at $15.05, down $0.45 or 2.90%, on the NYSE. The stock further slipped $0.55 or 3.65% in the after-hours trading.