HP Enterprise stock drops following disappointing 2024 earnings forecast

Hewlett Packard Enterprise Co. shares fell in the extended session Thursday after the company’s forecast for fiscal 2024 fell short of expectations.

HPE HPE, -2.28% shares dropped as much as 4% after hours, following a 2.3% decline to close Thursday’s regular session at $16.30. For fiscal 2024, HPE said it expects adjusted earnings of $1.82 to $2.02 a share, while analysts surveyed by FactSet had forecast, on average, $2.15 a share. The company also forecast revenue growth of 2% to 4% in 2024, while analysts expect $29.63 billion, or 1.6% above their current consensus estimate for 2023 of $29.15 billion.

For the current fiscal year, HPE forecasts revenue to growth 4% to 6%, and adjusted earnings of $2.11 to $2.15 a share. Analysts expect $2.14 a share.As of Thursday’s close, HPE shares were up 2.1% for the year, while the S&P 500 index SPX is up 11.4% over the same period.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

5 Stocks Wall Street Believes Will Stage a Remarkable Recovery in 2024Stocks Analysis by Investing.com (Ismael De La Cruz) covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, S&P 500 Futures. Read Investing.com (Ismael De La Cruz)'s latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »