HPE stock rose by about 5 percent on Tuesday after the enterprise software and hardware maker disclosed better-than-expected earnings for the third quarter of its 2017 fiscal year, which ended on July 31.
- EPS: Excluding certain items, 30 cents in earnings per share vs. 26 cents in earnings per share as expected by analysts, according to Thomson Reuters.
- Revenue: $8.21 billion vs. $7.49 billion as expected by analysts, according to Thomson Reuters.
The results are impacted by HPE's $8.8 billion spin-off of non-core software assets to Micro Focus, which the company completed last week.
But more generally, HPE has been in the spotlight lately because CEO Meg Whitman was in the running to become the next head of app-enabled cab company Uber. Ultimately Expedia chief Dara Khosrowshahi was selected to replace Travis Kalanick as Uber's CEO, but in the midst of the CEO search Whitman stepped down from the board of HP Inc.
Tuesday's press release on the earnings report has a fairly standard quote from Whitman, suggesting that she's not going anywhere for the moment. "The results of the third quarter are an encouraging sign of the progress we are making," Whitman is quoted as saying. "With better execution we drove overall revenue growth, exceeded our EPS targets and improved our operating margins sequentially, all while completing the spin-merge of our Software business. There's more work to do, but we are on the right track."