HPE share price up 1% despite Q2 results revenue miss
The IT services company's stock is up despite worse-than-expected Q2 revenue.
HPE (Hewlett-Packard Enterprise) share price has increased since the information tech services company released a mixed Q2 earnings report. The spin-off corporation of HP (Hewlett-Packard) had high earnings, but disappointing revenue.
HPE earnings: key figures
| Earnings per share | $0.42 |
| Revenue | $7.15 billion |
HPE's Q2 earnings up, but revenue down
HPE’s Q2 earnings per share were $0.42, beating analysts’ expectations of $0.36. HPE’s Q2 earnings per share surpassed the $0.34 earnings per share of Q2 2018. HPE’s Q2 revenue was $7.15 billion, falling below the projected $7.44 billion.
The US-China tariff war likely affected the corporation’s Q2 revenue. Chief executive officer, (CEO), Antonio Neri, spoke about the trade impasse.
‘We continue to believe that an open market where everyone can innovate and participate is important for market stability and customer confidence,’ said Neri.
Despite HPE’s mixed earnings report, chief executive officer (CEO), Antonio Neri, touted HPE’s Q2 results.
‘In Q2 we demonstrated traction in critical areas for our customers that delivered strong margin improvement, EPS (earnings per share) above our outlook and solid cash flow,’ said Neri.
‘We continue to make important strategic moves that further enhance our competitive position and ability to better serve our customers in a hybrid [cloud technology] world,’ added Neri.
How did HPE’s Q2 earnings compare to other tech companies?
Compared to tech product company HP, HPE’s Q2 earnings report was worse. HP’s profits beat earnings and revenue expectations. HPE had a mixed report of high earnings and worse-than-expected revenue.
What is HPE's Q3 guidance?
For Q3, HPE expects earnings per share to be in the range of $0.40 -$0.44.
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