Hewlett Packard Enterprise Higher After Q3 Earnings Beat

By Brett Hershman of Benzinga
Tuesday, August 27, 2019 5:20 PM EDT

Photo courtesy of Hewlett Packard Enterprise.

Hewlett Packard Enterprise Co HPE shares are up after reporting a third-quarter earnings beat.

Adjusted earnings came in at 45 cents per share, beating estimates by 5 cents. Sales came in at $7.2 billion, missing estimates by $90 million.

Highlights

  • Gross margins 33.9%, 340 basis points year-over-year
  • Non-GAAP earnings up 7% year-over-year
  • Cash flow from operations up $927 million year-over-year

Hewlett Packard Enterprise shares traded higher by 6.4% to $13.76 in Tuesday's after-hours session. The stock closed at $12.93.

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