uploads///

How Hewlett Packard Enterprise Fared in Fiscal 1Q17

By

Dec. 4 2020, Updated 10:50 a.m. ET

Revenue fall 10% YoY in fiscal 1Q17

US-based (SPY) Hewlett Packard Enterprise (HPE) announced its fiscal 1Q17 results on February 23, 2017. The company reported revenue of $11.4 billion in the quarter, a fall of 10% YoY (year-over-year) and 4% YoY after adjusting for currency fluctuations and divestitures. HPE’s non-GAAP (generally accepted accounting principles) EPS (earnings per share) were $0.45 within its guidance of $0.42–$0.46. In fiscal 1Q16, HPE posted non-GAAP EPS of $0.41.

HPE has posted a revenue decline in four of the last five quarters since its split from Hewlett-Packard (HPQ).

HPE CEO Meg Whitman was, however, optimistic about the long-term prospects. She stated, “I believe HPE remains on the right track. The steps we’re taking to strengthen our portfolio, streamline our organization, and build the right leadership team, are setting us up to win long into the future.”

Article continues below advertisement

What did analysts expect from HPE in fiscal 1Q17?

Analysts estimated HPE to post revenues of $12.1 billion for the quarter ended December 2016 with a low estimate of $11.7 billion and a high estimate of $12.5 billion.

Analysts expected the company to post EPS (earnings per share) of $0.44 with a high estimate of $0.46 and a low estimate of $0.41. HPE stock fell 6.9% on February 24, 2017, to close at $22.96.

Advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.