Hewlett Packard Enterprise CEO Antonio Neri spoke in an interview with CNBC on the floor of the New York Stock Exchange (NYSE) in New York City on October 20, 2023.
Brendan McDermid | Reuters
HP Packard Enterprise Stocks slid 16% in Thursday’s expansion trading, both below consensus, thanks to quarterly and full-year guidance from data center equipment manufacturers.
How the company did this in the first quarter of the first quarter compared to the LSEG consensus:
- Earnings per share: 49 cents adjustment and expected 49 cents
- income: $7.85 billion vs. $7.82 billion
According to one statement. The company’s profit was $598 million, or 44 cents per share, up from $387 million or 29 cents per share in the same quarter a year ago. Adjusted EPS does not include stock-based compensation.
The company may be better executed in certain regions of the quarter, with CEO Antonio Neri cited in a statement.
HPE said it will implement a cost reduction plan involving layoffs, which will advance the total savings of $350 million in fiscal 2027.
In the quarter, the U.S. Department of Justice filed a lawsuit in federal district court to block HPE acquisition Juniper Network. HPE Announce The proposed $14 billion deal was in January 2024. The court is expected to begin the trial in July.
HPE requires adjusted earnings per share in the second quarter to 34 cents, with revenue between $7.2 billion and $7.6 billion. Analysts surveyed by LSEG have already looked for 50 cents per share in $7.93 billion in revenue.
For fiscal year 2025, HPE requires adjusted revenue per share of $1.70 to $1.90. LSEG voted Analaysts forecast $2.13 per share.
As of Thursday’s end, HPE shares have so far gained about 2% in 2025, while the S&P 500 has dropped 2%.
Executives will discuss the results of the call starting at 5 p.m. ET.
This is breaking news. Please check it for updates.
watch: HPE stocks are down more than 10% after mixed earnings, layoffs plan
