Shares of Hewlett Packard Enterprise (HPE) are down by 9.53% to $22.31 in mid-morning trading on Friday, as investors are disappointed with the technology solutions provider's first quarter results.
The company posted earnings of 45 cents per share on revenue of $11.4 billion for the most recent quarter. Analysts surveyed by FactSet were expecting earnings of 44 cents on revenue of $12.07 billion.
HPE CEO Meg Whitman appeared on this morning's "Squawk on the Street" on CNBC to discuss the earnings and the pressure placed on the company.
"We probably loaded a bit too much on our senior people. We might have just overloaded people. We had a lot of people in new jobs. I pride myself on execution, and it wasn't perfect this quarter. There's no question that I have pushed this organization to probably the limits," Whitman said.
However, once "the dust settles," Whitman sees this as making a stronger company and calls the split "absolutely the right thing to do."