HPE Cuts Full-Year Forecast on Networking Slowdown, Chip Crunch
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Hewlett Packard Enterprise Co. reduced its outlook for sales growth and profit in the current fiscal year, citing lower demand for networking products and a crunch in computer chip availability.
Revenue will increase as much as 2%, excluding currency fluctuations, in the fiscal year ending in October. Previously, HPE saw 2% to 4% annual sales growth. Profit, excluding some items, will be $1.82 to $1.92 a share, from an earlier earnings forecast of $1.82 to $2.02 a share.