Data Center Technology company Hewlett Packard Enterprise Co. (NYSE:$HPE) reported a better-than-expected quarterly revenue. What’s the hero in this situation? Higher sales for its networking equipment.
Let’s take a closer look at the statistics:
- Shares of the company rose 4.13% to $14.62 after the bell on Tuesday
- Revenue from the enterprise group division, including storage and networking businesses, accounted for more than three-fourths of total revenue
- Total revenue rose around 3%, to $6.79 billion in the third quarter
- The average analyst estimate was $6.37 billion
- Networking revenue rose 16%
- The company is expecting a current-quarter profit of around 26 cents to 30 cents per share
- Overall, HP reported a 2.5% rise in quarterly revenue to $8.21 billion, beating average estimate of $7.49 billion
However, HP’s net income was decreased by the spinoffs of its enterprise services business with Computer Sciences Corp (NYSE:$CSC) and software business with Micro Focus International (NYSE:$MFGP). The numbers went from $2.27 billion to $165 million from year to date. Excluding items, the company earned 30 cents per share.
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