
Hewlett Packard Enterprise (HPE) Stock Soars on Earnings Beat
NEW YORK (TheStreet) -- Hewlett Packard Enterprise Co. (HPE) - Get Report stock continues to increase, up by 14.93% to $15.63 in mid-morning trading on Friday, after the company reported better-than-expected 2016 first quarter results.
After the market close on Thursday, the enterprise software company reported earnings of 41 cents per share, higher than analysts' forecasts for 40 cents per share.
Revenue of $12.72 billion was slightly higher than Wall Street's projections for $12.7 billion.
Hewlett Packard Enterprise's results increased investors confidence regarding the demand for corporate technology, the Wall Street Journal reports.
"The investment community was bracing for potentially disappointing results," Toni Sacconaghi, an analyst at Sanford C. Bernstein, told the Journal.
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