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HP Enterprise: Fiscal 3Q Earnings Snapshot

August 25, 2020 GMT

SAN JOSE, Calif. (AP) _ Hewlett Packard Enterprise Co. (HPE) on Tuesday reported fiscal third-quarter net income of $9 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the San Jose, California-based company said it had profit of 1 cent. Earnings, adjusted for non-recurring costs, were 32 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The information technology products and services provider posted revenue of $6.82 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $6.19 billion.

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For the current quarter ending in October, HP Enterprise expects its per-share earnings to range from 32 cents to 36 cents.

The company expects full-year earnings in the range of $1.30 to $1.34 per share.

HP Enterprise shares have declined 41% since the beginning of the year.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HPE at https://www.zacks.com/ap/HPE