HPE Projects Profit That Tops Estimates on Improved Margins
- Revenue falls across all business units in sign of weak demand
- CEO Neri has sought to make hardware available as a service
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Hewlett Packard Enterprise Co., a maker of server computers, gave a profit forecast that topped Wall Street estimates, signaling progress on its efforts to cut costs and reshape its business to higher-margin products.
Adjusted earnings, excluding some items, will be 43 cents to 47 cents a share in the period ending in October, the San Jose, California-based company said Tuesday in a statement. Analysts, on average, projected 43 cents. The company also raised its fiscal year forecast for adjusted earnings to $1.72 to $1.76 a share from its May guidance of $1.62 to $1.72.