Hewlett Packard Enterprise’s Revenue Declines After Separation
Hewlett Packard Enterprise Co. reported their fiscal fourth-quarter results on Tuesday, marking its first year as an independent company after Hewlett-Packard Co. had been split into two smaller companies a year ago.
The Palo Alto, Calif.-based company, which focused on the corporate computing market selling servers, networking equipment and services, said net income in its fourth fiscal quarter fell 78% on a 7.2% revenue decline. Annual revenue was reported to reach of $50.1 billion last quarter, which was down 4% from fiscal 2015. However, HPE claimed that revenue edged 2% higher year-over-year, when adjusted for divestitures and currency.
Shares of HP Enterprise declined nearly 2% in the after-hours trading as the company also forecast earnings for the current quarter were mostly below projections on Wall Street.
Sell Stop at 22.45, Take profit at 21.00, Stop loss at 23,00