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HP Enterprise raises FY'19 outlook as fiscal Q3 earnings beat estimates

Hewlett Packard Enterprise Co. raised its non-GAAP EPS outlook for fiscal 2019 as its earnings in the third fiscal quarter beat analyst estimates.

The company is now targeting non-GAAP EPS in the range of $1.72 to $1.76 in fiscal 2019, compared with a prior projection of $1.62 to $1.72.

Hewlett Packard Enterprise booked $603 million in non-GAAP net earnings for the third fiscal quarter ended July 31, down from $639 million in the year-ago period.

Non-GAAP EPS for the quarter reached 45 cents, up from 42 cents in the prior year and exceeding the S&P Global Market Intelligence consensus normalized EPS estimate of 40 cents.

The company booked a GAAP net loss of $27 million, or 2 cents per share, in the third fiscal quarter, compared with net earnings of $451 million, or 29 cents per share, in the same period a year ago.