HPE shares rise 4% on improved fiscal 2021 outlook

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Shares of Hewlett Packard Enterprise Co. were up 4% initially Thursday after the company announced improved fiscal 2021 financial outlook. HPE estimates non-GAAP diluted net earnings per share outlook of $1.56 to $1.76, up 10% year-over-year at the mid-point when adjusted for stock-based compensation expense. The company projects FY21 GAAP diluted net earnings per share outlook of 34 cents to 54 cents, up 77 cents year-over-year at the mid-point. “While the global pandemic is unlike any crisis we have ever faced, it has served as a catalyst, making digital transformation a strategic imperative for enterprises,” HPE Chief Executive Antonio Neri said in a statement. “Enterprises need to deliver secure connectivity, remote work solutions, data analytics capabilities and mobile-first, cloud-like experiences to their employees and customers. And they need to do it with speed and flexibility, preserving liquidity to navigate the macro economic uncertainty and adapt to the new world. This is a significant opportunity for Hewlett Packard Enterprise.”
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