Hewlett Packard Enterprise (HPE) has reported quarterly earnings of $0.58 per share, beating the consensus estimate of $0.55 per share. This represents a 5.45% earnings surprise and is the fourth time in four quarters that HPE has surpassed EPS estimates.
For the quarter ended October 2024, HPE’s revenue came in at $8.46 billion, exceeding the Zacks Consensus Estimate by 2.81%. This is an increase from year-ago revenues of $7.35 billion.
HPE shares have risen about 28.2% since the beginning of the year, outperforming the S&P 500’s gain of 27.6%. However, investors are still wondering what’s next for the stock.
A key factor in determining HPE’s future performance is its earnings outlook. The company’s current consensus earnings expectations and any recent changes can provide valuable insights. Research has shown a strong correlation between near-term stock movements and trends in earnings estimate revisions.
As of the earnings release, the estimate revisions trend for HPE was mixed, resulting in a Zacks Rank #3 (Hold) for the stock. This suggests that HPE’s shares are expected to perform in line with the market in the near future.
Source: https://finance.yahoo.com/news/hewlett-packard-enterprise-hpe-q4-221505171.html