HP Enterprise’s stock price movement
Hewlett Packard Enterprise (HPE) reported mixed first quarter fiscal 2019 results on February 21 after the market bell. The earnings for the quarter, which ended January 31, 2019, topped analysts’ expectations, but revenues missed expectations. Following upbeat Q1 earnings results, HP Enterprise also raised the earnings forecast for fiscal 2019. The stock rose just 0.55% on February 22 and closed at $16.32.
HP Enterprise stock has gained 23.5% on a year-to-date basis versus the S&P 500’s gain of only 11.4%. In comparison, peers HP (HPQ), Cisco Systems (CSCO), Juniper (JNPR), and Nokia (NOK) have gained 16.0%, 16.5%, 2.6%, and 7.2%, respectively, in the same period.
HP Enterprise tops earnings results in Q1
HP Enterprise came out with better-than-expected earnings results in the first quarter, wherein adjusted earnings of $0.42 per share exceeded analysts’ expectations of $0.35 per share as well as the company’s expectation range of $0.33 to $0.37 per share. Earnings also grew 31.3% YoY in the first quarter.
Revenues of this information technology products and services provider reached $7.55 billion in Q1. Revenue slightly missed the estimates of $7.59 billion and also fell ~1.6% YoY in the first quarter due to currency headwinds. Excluding currency, revenues declined 1% YoY in Q1 due to a decline in demand for servers.