The company reported its earnings for the third fiscal quarter on Tuesday after the market close, and the reported results surpassed the initial investors’ expectations. The initial consensus of most market analysts projected Earnings Per Share of 0.4, whereas the actual reported EPS was 0.45. This number amounted to a 12.5 per cent surprise.
The Cash Flow from Operations is up to $927 million from the prior year-to-date period; the Free Cash Flow is up to $790 million from the previous year-to-date, and thus, the net revenue of HP has reached $7.2 billion. Antonio Neri, the president and CEO of Hewlett Packard Enterprise, commented on the earnings report by saying:
“In Q3, we improved both gross and operating margins, delivered strong non-GAAP earnings, and generated a record level of year-to-date free cash flow. We also invested in important innovation for our customers and announced strategic acquisitions, including Cray, which we now expect to close by the end of fiscal year 2019, earlier than originally planned.” [source]
Thus, the share price of the company appreciated with 4.06 per cent in yesterday’s trading session and eventually closed at 13.46 despite having reached 13.83 earlier in the day. In spite of the overwhelmingly positive earnings report and its findings, the share price of the company is still trading in a noticeably bearish market. So far, the share price has depreciated with 6.37 per cent throughout the month.
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