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Hewlett Packard Had a Dire Second Quarter

Although HPE reported a steep decline in revenues in the quarter, it also reported better-than-expected margin improvements in its software business.

Micro Focus International (MCFUY)  saw light in Hewlett Packard Enterprise's (HPE)  worse-than-expected second-quarter earnings released Wednesday.

Although HPE reported a steep decline in revenues in the quarter, it also reported better-than-expected margin improvements in its software business which Micro Focus is in the process of buying in an $8.8 billion deal.

Micro Focus shares were up on the news, gaining 2.1% at 11:00 BST in London, to change hands at 2,444 pence, extending a 13.25% gain over the past three months.

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Hewlett Packard Enterprise's Dire Quarter Shines Light on Deal With U.K.'s Micro Focus

This article was written by a staff member of TheStreet.