March 3, 2016 / 10:05 PM / in a year

HP Enterprise's revenue, profit beat estimates

Signs for Hewlett Packard Enterprise Co. cover the facade of the New York Stock Exchange November 2, 2015.Brendan McDermid

(Reuters) - Hewlett Packard Enterprise Co, which houses former Hewlett-Packard Co's corporate hardware and services division, reported better-than-expected quarterly revenue and profit, helped by strength in its hardware business.

Hewlett Packard Enterprise's (HPE) shares were up 6.4 percent at $14.47 in extended trading on Thursday.

Revenue in HPE's enterprise group business, from which it derives more than half of its total revenue, rose about 1 percent to $7.1 billion in the first quarter ended Jan. 31, from a year earlier.

The company, which is headed by Margaret Whitman, also maintained its 2016 adjusted profit forecast of $1.85-$1.95 per share.

Net earnings fell to $267 million, or 15 cents per share, in the first quarter ended Jan. 31 from $547 million, or 30 cents per share, a year earlier.

After adjustments, the company earned 41 cents per share.

The company's revenue fell to $12.72 billion from $13.05 billion.

Analysts on average had expected earnings of 40 cents per share and revenue of $12.68 billion.

Reporting by Alan John Koshy in Bengaluru; Editing by Maju Samuel

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below