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HPE: Q2 EPS below expectations

(CercleFinance.com) - On Thursday evening Hewlett Packard Enterprise (HPE) reported Q2 2019-20 adjusted EPS that was almost halved at 22 cents, seven cents short of the conensus, with an adjusted operating margin that fell 2.
8 points to 6.1%.

The IT group saw its adjusted gross margin slip 0.2 point to 32%, for revenues that are down 16% to six billion dollars (-15% at constant exchange rates), with the company saying that it was penalised by logistics constraints and delays in customer acceptance.

After withdrawing its annual targets in early April, HPE has announced a plan to optimise costs and prioritise investments over three years, from which it expects to make net savings of at least 800 million dollars per year.


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