HPE Jumps on Surprise Sales Revival, Cost-Cutting Effort
- Profit forecasts for quarter and year top analysts’ estimates
- HP Inc. also gains after revenue jump defies PC industry slump
This article is for subscribers only.
Hewlett Packard Enterprise Co. reported a surprise sales revival and projected profit that topped analysts’ estimates, signs the effort to reshape the company is beginning to work as new Chief Executive Officer Antonio Neri takes over.
The revenue gain, optimistic forecast and plans for $7 billion in buybacks and dividend increases sent shares of the information-technology company climbing more than 12 percent in extended trading. Its former corporate companion, HP Inc., which makes printers and personal computers, also reported strong sales in the holiday quarter that topped estimates, sending shares up as much as 9.3 percent.