By Jon Swartz
Shares of Hewlett Packard Enterprise Co. rose 1% in extended trading Tuesday after the company reported second-quarter financial results that topped Wall Street estimates.
The company (HPE) reported net earnings of $259 million, or 19 cents a share, compared with a net loss of $821 million, or 64 cents a share, in the same quarter a year ago. HPE said adjusted earnings were 46 cents a share, up from 27 cents a share in the year-ago quarter.
Revenue grew 12% to $6.7 billion from $6 billion a year ago.
Sales from computer ($3 billion, up 12%) and storage ($1.1 billion, up 5%) led the way. Intelligent Edge revenue was $799 million, an increase of 20% from the same quarter a year ago.
"Our disciplined execution on our strategic priorities is positively impacting both top and bottom line performance," HPE Chief Executive Antonio Neri said in a statement. "We are strengthening our core computer and storage businesses, doubling down in our growth Intelligent Edge and HPC businesses and accelerating our pivot to as-a-service, while also advancing our cloud-first innovation agenda to become the edge-to-cloud platform as-a-service choice for our customers and partners."
HPE also declared a regular cash dividend of 12 cents per share, payable on July 7.
Analysts surveyed by FactSet had expected net income of 42 cents a share on revenue of $6.6 billion.
HPE's stock has improved 36% so far in 2021. The broader S&P 500 index is up 12% this year.
-Jon Swartz; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 01, 2021 16:08 ET (20:08 GMT)
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