Hewlett Packard falls after downbeat quarterly revenue forecast
ReutersMar 6, 2025 9:24 PM
Shares of AI server maker Hewlett Packard HPE.N fall 16.3% to $15.04 in extended trading
Company forecasts Q2 revenue to be in the range of $7.2 billion and $7.6 billion vs estimates of $7.93 billion, according to data compiled by LSEG
HPE forecast Q2 adj earnings to be in the range of 28 cents/share to 34 cents/share, vs estimates of 50 cents/shr
Company posts Q1 adj profit of 49 cents/share, in line with analysts' estimates
HPE posts Q1 revenue of $7.9 billion, compared with $6.76 billion a year ago
HPE to cut jobs as part of a cost-saving program, expected to be implemented through the fiscal year 2026
Program to deliver gross savings of about $350 million by 2027
Including sessions moves, stock down about 16% YTD
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