HPE Sinks Despite Q4 Beats, As Whitman Steps Down As CEO

By Zacks Investment ResearchStock MarketsNov 21, 2017 05:36AM ET

www.investing.com/analysis/hpe-sinks-despite-q4-beats-as-whitman-steps-down-as-ceo-200267360

HPE Sinks Despite Q4 Beats, As Whitman Steps Down As CEO

By Zacks Investment Research | Nov 21, 2017 05:36AM ET

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Hewlett Packard Enterprise Company (NYSE:HPE) just released its fourth-quarter financial results, posting adjusted earnings of $0.29 per share and revenues of $7.8 billion. Currently, Hewlett Packard Enterprise is a Zacks Rank #3 (Hold), and is down over 7% to $13 per share in after-hours trading shortly after its earnings report was released.

HPE:

Beat earnings estimates. The company posted adjusted earnings of $0.29 per share, beating our earnings estimates of $0.28 per share.

Beat revenue estimates. The company saw revenue figures of $7.8billion, topping our consensus estimate of $7.71 billion.

The company, which spun off from HP in November 2015, saw its Q4 revenues jump by 5%. HPE’s non-GAAP earnings rose from $0.23 in the year-ago period.

For the full-year, HPE posted revenues of $37.4 billion. On top of that, HPE now expects to post non-GAAP diluted EPS in the range of $0.20 to $0.24 in the first quarter of 2018.

However, much of the news today will focus on the fact that CEO Meg Whitman will step down as the company’s chief executive.

“With strong top line revenue growth, earnings above our previous outlook and our second consecutive quarter of sequential margin improvement, our fourth quarter results are a reflection of the progress we have made over the past two years to transform HPE into a nimble, focused and innovative organization,” Whitman said in a statement.

“Today, HPE has a very strong balance sheet, an industry-leading product portfolio and a world-class leadership team ready to drive the next phase of shareholder value.”

Here’s a graph that looks at HPE’s Price, Consensus and EPS Surprise history:

Hewlett Packard Enterprise Company Price, Consensus and EPS Surprise

Hewlett Packard Enterprise Company Price, Consensus and EPS Surprise | Hewlett Packard Enterprise Company Quote

Hewlett Packard Enterprise Company was spun-off from the Hewlett-Packard Company (NYSE:HPQ) in November 2015. The company operates in four segments: Enterprise Services, Enterprise Group, Software and Financial Services. The Enterprise Group is the company's largest revenue contributor, accounting for more than half of total revenues.

Check back later for our full analysis on HPE’s earnings report!

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HPE Sinks Despite Q4 Beats, As Whitman Steps Down As CEO

Hewlett Packard Enterprise Company Price, Consensus and EPS Surprise

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