From Investing.com: 2024-06-05 09:51:55

Hewlett Packard Enterprise (HPE) saw a 15% surge in shares after better-than-expected quarterly results. Q2 earnings per share of $0.42 exceeded projections of $0.39, with revenue hitting $7.2 billion compared to estimates of $6.83 billion. AI server sales spiked to over $900 million, contributing to a 17.6% uptick in overall server sales. JPMorgan analysts praised HPE’s impressive quarter and optimistic AI outlook.

Stifel analysts upped HPE’s price target to $22 from $18, in light of the company’s solid performance. HPE expects annual earnings per share between $1.85 to $1.95, surpassing Wall Street’s prediction of $1.88. For Q3, HPE projects earnings of $0.43 to $0.48 and revenue ranging from $7.4 billion to $7.8 billion.



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