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Hewlett Packard Enterprise Stock Reacts to Earnings, CEO Departure

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Dec. 4 2020, Updated 10:52 a.m. ET

Revenue of $7.8 billion in fiscal 4Q17

The US-based (SPY) Hewlett Packard Enterprise (HPE) announced its fiscal 4Q17 results on November 21 and reported revenue of $7.8 billion for the quarter, which ended in October 2017. Revenue rose 5% YoY (year-over-year) after adjusting for divestitures and currency. HPE reported non-GAAP (generally accepted accounting principles) EPS (earnings per share) of $0.31—above the company’s outlook between $0.26 and $0.30 in 4Q17.

In fiscal 2017, HPE reported revenue of $37.4 billion, a fall of 5% YoY after adjusting for divestitures and foreign exchange. Almost $29 billion came from continuing operations and $8.5 billion was associated with discontinued operations in 2017.

Non-GAAP EPS were $1.41, above company guidance for between $1.36 and $1.40.

What did analysts expect from HPE in 4Q17?

Analysts expected HPE to post revenue of $7.7 billion with EPS of $0.28. While HPE met revenue estimates, it beat EPS estimates by 11% in 4Q17. However, shares of the hardware tech (QQQ) firm fell over 7% on November 22 after CEO Meg Whitman announced that she would step down in February 2018.

Whitman will be replaced by HPE President Antonio Neri, who has been with the company since 1995 and running the Enterprise Group since 2015.

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