Hewlett Packard Enterprise Shares Surge 8 percent on Q3 Beat

Hewlett Packard Enterprise (NYSE:HPE) shares gained more than 8% today following the company’s reported Q4 results, with revenue of $7.9 billion coming in better than the consensus estimate of $7.4 billion. EPS of $0.57 was in line with expectations.
According to the analysts at Deutsche Bank, the strong Q4 results were driven by strength in Compute and easing supply constraints, which more than offset the shortfall in HPC/AI. Revenue guidance for Q1 was also higher than the Street estimates, partially driven by the delayed recognition of Project Frontier.
Q1/23 EPS is expected to be in the range of $0.50-$0.58, compared to the Street estimate of $0.49. Revenue is expected in the range of $7.2-7.6 billion, compared to the Street estimate of $7 billion.
For fiscal 2023, the company expects EPS to be in the range of $1.96-$2.04, compared to the Street estimate of $2.03.