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Hewlett Packard Enterprise Comp Up 1.12% To $15.40 After Earnings Beat

Friday, March 01, 2024 12:31 PM | InvestorsObserver Analysts

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Hewlett Packard Enterprise Comp Up 1.12% To $15.40 After Earnings Beat

Hewlett Packard Enterprise Comp (HPE) said after close Thursday that it earned $0.48 per share in quarter one 2024. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $6.8 billion, missing estimates by $365 million.

In the same quarter a year ago, the company earned $0.63 per share on revenue of $7.8 billion.

The stock is up 1.12% to $15.40 after the report.

Hewlett Packard Enterprise Comp's profit margins took a hit as earnings fell at a faster pace than revenues.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Hewlett Packard Enterprise Comp has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 22, putting Hewlett Packard Enterprise Comp in the bottom 25% of stocks. The firm set a 52-week high on August 8, 2023 at $18.14 and set a 52-week low on March 16, 2023 at $13.66.

Hewlett Packard Enterprise is a supplier of IT infrastructure products and services. The company operates as six segments. Its compute division primarily sells computer servers and services. The high-performance compute segment includes its Cray supercomputers. Storage arrays are sold out of the storage segment, and the intelligent edge group sells Aruba networking products and services. HPE's financial services division offers financing and leasing plans for customers. The Palo Alto, California-based company sells on a global scale and has approximately 60,000 employees.

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