Hewlett Packard Enterprise (HPE) reported its fourth quarter of 2018 earnings after the bell. The company posted earnings of $0.45 per share on revenue of $7.9 billion. The Street expected the IT giant to post earnings of about $0.43 per share on revenue of $7.85 billion. After the bell, the stock turned to red after trading in the positive territory for just half an hour.
Adjusted EPS of $0.45 was above the previously provided earnings outlook of $0.39 to $0.44 per share, while GAAP loss per share of $0.52 came in below the previously provided earnings outlook of $0.16 to $0.21 per share. GAAP loss per share was hurt by the U.S. Tax Reform charges of $1.3 billion in the final quarter of 2018.
Sales in the Asia-Pacific region experienced a 5% decline, while the Americas and EMEA regions experienced a growth of 3% and 11%, respectively.
The Palo Alto, California-based firm maintained its fiscal 2019 GAAP EPS outlook of $0.73 to $0.83 and non-GAAP EPS outlook of $1.51 to $1.61. For 1Q19, HPE estimates GAAP EPS to be in the range of $0.19 to $0.23 and non-GAAP EPS to be in the range of $0.33 to $0.37.
“In 2019, I have great confidence that our experienced global team and proven strategy will accelerate what comes next for our customers from edge to cloud,” said CEO Antonio Neri.
Shares of Hewlett Packard were hurt by the broader sell-off in the afternoon session and dropped 2.9% to $15.05 when the market closed on Tuesday. The company’s stock had produced a negative return of 10% in the past 3 months and it had given a positive return of 6% in the past 52-weeks period.
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With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard