Hewlett-Packard Enterprise Co. (NYSE: HPE) reported its financial results for the fiscal first quarter on Tuesday that came in better than what analysts had anticipated. As per the American multinational, it now expects up to £1.0 billion of full-year free cash flow versus earlier guidance of up to £790 million.
HPE shares initially jumped 2.5% in after-hours trading on Tuesday but lost the majority of the gain later on. The stock now has a per-share price of £10.47 versus £8.29 per share at the start of 2021. If you want to invest in the stock market online, you’ll need a reliable stockbroker – here’s a comparison of the top few to make selection easier for you.
HPE’s Q1 financial results versus analysts’ estimates
HPE reported £4.89 billion of revenue in the first quarter that represents a 1% annualised decline. On an adjusted basis, the company earned 37.24 pence per share in Q1. According to FactSet, experts had forecast the company to record £4.81 billion of revenue in the recent quarter. Their estimate for adjusted per-share profit stood at a lower 29.36 pence.
The information technology firm posted £577.20 million of revenue from its Intelligent Edge segment in the first quarter, or 12% higher than last year. At £545.69 million, revenue from High-performance Compute, and Mission Critical systems slid 9% on an annualised basis. Compute revenues, HPE added, were down 1% in Q1, while storage revenue saw a 5% decline. Financial Services revenue remained unchanged at £615.87 million.
In comparison, HPE had registered £117 million of net earnings in the prior quarter (Q4).
HPE’s guidance for the fiscal second quarter
For fiscal Q2, the Houston-based firm now forecasts up to 31.51 pence per share of adjusted per-share profit. Analysts, on the other hand, are also calling for 27.21 pence per share. HPE expects up to £1.35 of adjusted per-share profit in the ongoing financial year.
CEO Antonio Neri commented on the earnings report on Tuesday and said:
“The global pandemic has brought a renewed focus on digital transformation as businesses are rethinking everything from remote work and collaboration to business continuity and data insight. As the world heads to recovery, our customers are looking for the agility and simplicity of the cloud-native world with the flexibility and control of a hybrid business model – and this is where we have a unique and differentiated value proposition.”
The post Hewlett-Packard Enterprise’s revenue slides 1% in the first quarter appeared first on Invezz.
from USA – Invezz https://ift.tt/3bNGGRm
Wajeeh Khan
Click here to Join RICH DAD SUMMIT online with ROBERT KIYOSAKI - $1 Training for Passive Income: https://bit.ly/RichDadSummitWealthTraining
0 Comments