HPE: a tricky start after third-quarter results
(CercleFinance.com) - Hewlett Packard Enterprise shares had a tricky start to trading on Tuesday in New York, following an uninspiring set of results for the third quarter.
The tech company - which specialises in cloud, intelligent storage, and financial solutions - said non-GAAP diluted net EPS from continuing operations rose to 0.49 dollar in the past quarter, compared to 0.43 dollar a year ago.
This is still above the previously provided outlook of 0.43 to 0.47 dollar, as provided by the San Jose, California-based company.
However, net revenue fell by 9% to 7.2 billion dollars, it said.
HPE maintained its fiscal 2020 non-GAAP EPS outlook of 1.78 dollar to 1.94 dollar, although the group's cautious tone weighed on the shares.
"As expected, HPE management offered up continued cautionary commentary on the current IT spending environment - elongating sales cycles, particularly in larger deals," analysts at Wells Fargo noted.
The shares are down 7% in early morning trading on Wall Street.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The tech company - which specialises in cloud, intelligent storage, and financial solutions - said non-GAAP diluted net EPS from continuing operations rose to 0.49 dollar in the past quarter, compared to 0.43 dollar a year ago.
This is still above the previously provided outlook of 0.43 to 0.47 dollar, as provided by the San Jose, California-based company.
However, net revenue fell by 9% to 7.2 billion dollars, it said.
HPE maintained its fiscal 2020 non-GAAP EPS outlook of 1.78 dollar to 1.94 dollar, although the group's cautious tone weighed on the shares.
"As expected, HPE management offered up continued cautionary commentary on the current IT spending environment - elongating sales cycles, particularly in larger deals," analysts at Wells Fargo noted.
The shares are down 7% in early morning trading on Wall Street.
Copyright (c) 2019 CercleFinance.com. All rights reserved.