Hewlett Packard Enterprise Co. on Tuesday reported better-than-expected quarterly earnings and sales in line with Street estimates.
The company
HPE,
reported fourth-quarter net earnings of $2.55 billion, or $1.91 a share, compared with net earnings of $157 million, or 12 cents a share, in the same quarter a year ago. HPE said adjusted earnings were 52 cents a share, up from 41 cents a share in the year-ago quarter.
Revenue grew 2% to $7.35 billion from $7.2 billion a year ago.
“HPE ended fiscal year 2021 with record demand for our edge-to-cloud portfolio, and we are well positioned to capitalize on the significant opportunity in front of us,” HPE Chief Executive Antonio Neri said in a statement.
Sales from compute ($3.2 billion, up 1%) and storage ($1.3 billion, up 3%) led the way. Intelligent Edge revenue was $815 million, an increase of 4% from the same quarter a year ago.
Analysts surveyed by FactSet had expected net income of 48 cents a share on revenue of $7.38 billion.
HPE’s stock has gained 20% in 2021. The broader S&P 500 index SPX is up 22% this year.
This post was originally published on Market Watch
