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Hewlett Packard Enterprise Co (NYSE:HPE) shares are moving lower in extended trading Tuesday on the heels of the company's second-quarter results.
- Q2 Revenue: $6.97 billion missed estimates of $7.31 billion
- Q2 EPS: 52 cents beat estimates of 48 cents
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"These results demonstrate that our strategy to pivot our portfolio to higher-growth, higher-margin areas is working – and that we are operating with discipline," said Tarek Robbiati, executive vice president and CFO of HPE.
HPE sees third-quarter revenue of $6.7 billion to $7.2 billion versus estimates of $7.24 billion. The company expects third-quarter earnings to be between 44 cents and 48 cents per share versus estimates of 46 cents per share.
HPE raised its full-year earnings guidance to a range of $2.06 to $2.14 per share versus estimates of $2.07 per share.
The stock appears to be reacting negatively to the worse-than-expected top-line number and weak revenue outlook.
HPE Price Action: HPE shares were down 6.19% after hours at $14.56 at the time of writing, per Benzinga Pro.
Photo: courtesy of HPE.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.