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HPE Cuts Full-Year Profit Forecast on Currency, Supply Chain and Russia

  • Company reports quarterly sales little changed from a year ago
  • CEO Neri says customer demand, orders remain resilient
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WATCH: Hewlett Packard Enterprise CEO Antonio Neri discusses the company’s reduced outlook and supply-chain disruptions.Source: Bloomberg
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Hewlett Packard Enterprise Co. declined about 6% in extended trading after lowering its full-year profit forecast, citing unfavorable currency movements, supply chain disruptions and the impact of exiting the Russian market.

Profit, excluding some items, will be as much as $2.10 a share in the fiscal year, which is seven cents a share less than the previous guidance issued in March. Earnings in the current period, which ends in July, will be 44 cents to 54 cents a share, the Spring, Texas-based company said Wednesday in a statement.