Hewlett Packard Enterprise Co (NYSE:HPE) shares rose 0.6% in extended trading Tuesday after the company swung to a profit in its fiscal fourth-quarter results.
The information technology company posted a profit of $642 million, compared to a loss of $304 million in the year-ago quarter. Adjusted earnings were $0.52 per share, compared to $0.57 a year earlier and above expectations of $0.50.
Revenue was $7.35 billion in the period, down 7% year-over-year and in line with expectations.
"In fiscal year 2023, HPE clearly demonstrated that our strategic investments and extraordinary innovation across the growth areas of Edge, Hybrid Cloud, and AI are resonating with customers,” CEO Antonio Neri said in a statement.
Looking ahead, HPE guided first-quarter earnings between $0.42 and $0.50 per share on revenue between $6.9 billion and $7.3 billion.
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