Categories AlphaGraphs, Earnings, Technology
HPE Earnings: Hewlett Packard Q1 2024 profit drops but beats Street view
Information technology solutions provider Hewlett Packard Enterprise (NYSE: HPE) on Thursday reported lower earnings and revenues for the first quarter of 2024. Earnings, however, exceeded analysts’ forecasts.
First-quarter profit, excluding one-off items, dropped to $0.48 per share from $0.63 per share a year earlier but came in above consensus estimates. On a reported basis, net income was $387 million or $0.29 per share during the three months, compared to $501 million or $0.38 per share in the same period of 2023.
The tech firm’s revenues decreased to $6.76 billion in the first quarter from 7.80 billion in the prior-year period. The top line missed estimates.
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