Hewlett Packard Enterprise Q1 Profit Increases, beats estimates

(RTTNews) - Hewlett Packard Enterprise (HPE) released a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $513 million, or $0.39 per share. This compares with $223 million, or $0.17 per share, in last year's first quarter.

Excluding items, Hewlett Packard Enterprise reported adjusted earnings of $697 million or $0.53 per share for the period.

Analysts on average had expected the company to earn $0.46 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.9% to $6.96 billion from $6.83 billion last year.

Hewlett Packard Enterprise earnings at a glance (GAAP) :

-Earnings (Q1): $513 Mln. vs. $223 Mln. last year. -EPS (Q1): $0.39 vs. $0.17 last year. -Analyst Estimate: $0.46 -Revenue (Q1): $6.96 Bln vs. $6.83 Bln last year.

-Guidance: Next quarter EPS guidance: $0.41 to $0.49 Full year EPS guidance: $2.03 to $2.17