Hewlett Packard Enterprise stock falls in after-hours trading
Hewlett Packard Enterprise (HPE) reported upbeat fourth-quarter fiscal 2018 results on December 4 after the market closed. Despite beating results, HPE saw its stock fall 1.66% in after-hours trading on Tuesday. The stock has gained 9.4% in the past year while the S&P 500 has gained 2.7%. Hardware peers HP (HPQ), Cisco Systems (CSCO), Juniper Networks (JNPR), and Nokia (NOK) have gained 13.3%, 30.4%, 4.2%, and 19.2%, respectively, over the past year.
Beats earnings and revenue estimates
HPE beat analysts’ EPS expectation of $0.43 in the fourth quarter, with its adjusted EPS growing 55.2% YoY (year-over-year) to $0.45 from $0.29. Driven by higher demand for its storage and data center networking products, HPE’s revenue grew 3.7% YoY to $7.95 billion, beating analysts’ estimate of $7.84 billion.
In fiscal 2018, HPE had adjusted EPS of $1.56 and revenue of $30.9 billion, beating analysts’ estimates of $1.93 and $30.7 billion. Its adjusted EPS grew 62.5% YoY, and its revenue increased 6.9% YoY.
HPE expects adjusted EPS of $0.33–$0.37 in the fiscal first quarter of 2019. In fiscal 2019, it expects its adjusted EPS to rise 8% YoY to $1.51–$1.61.