Categories Earnings, Technology

Q4 revenue miss weighs on Hewlett Packard Enterprise stock

Hewlett Packard Enterprise (NYSE: HPE) on Monday delivered Q4 adjusted earnings of 49 cents per share, beating Wall Street expectation of 46 cents per share and higher than the management’s projection range.

Meanwhile, revenues of $7.2 billion were down 9% year-over-year. Analysts were expecting Q4 revenues of $7.4 billion.

HPE shares slipped 3.2% immediately following the earnings announcement. The stock has gained almost 30% since the beginning of this year.

Hewlett Packard Enterprise Q4 2019 Earnings Infographic

For fiscal 2020, Hewlett Packard Enterprise maintained its GAAP EPS outlook of $1.01 – $1.17 and non-GAAP EPS outlook of $1.78 – $1.94.

For the first quarter of 2020, the San Jose, California-based firm estimates non-GAAP EPS to be in the range of $0.42 to $0.46.

CEO Antonio Neri said, “I am confident in our ability to drive sustainable, profitable growth as we continue to shift our portfolio to higher-value, software-defined solutions and execute our pivot to offering everything as a service by 2022.”

READ: Boxlight President Michael Pope on its products, marketing strategy and the stock

Last month, HPE stated that its strategy of investing in high value, software-defined solutions had helped improve profitability across the company over the past year. The company plans to offer the entire HPE portfolio as-a-service by fiscal year 2022 and sees solid market opportunity in this space.

Hewlett Packard is on an aggressive mission to exit low-margin businesses and shift focus to profitable products and services. The company bought Cray (CRAY) earlier this year, marking its foray into the supercomputer business.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

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