Technology firm Hewlett Packard Enterprise Company (NYSE: HPE) Tuesday reported higher earnings and revenues for the first quarter of 2022. Earnings surpassed the consensus forecast, while revenues missed.
First-quarter earnings, adjusted for special items, rose to $0.53 per share from $0.52 per share in the corresponding period of last year. Net profit was $513 million or $0.39 per share, compared to $223million or $0.17 per share in the first quarter of 2021. The bottom-line also came in above estimates.
At $6.96 billion, revenues were up 2% year-over-year in the first three months of fiscal 2022. Analysts had predicted a slightly bigger growth.
Read management/analysts’ comments on HPE’s Q1 report
Shares of Hewlett Packard have lost around 5% since the beginning of the year. The stock closed Tuesday’s regular session lower.