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Hewlett Packard Enterprise profit misses consensus by 30.8% in fiscal Q3

Hewlett Packard Enterprise Co. said its normalized net income for the fiscal third quarter ended July 31 came to 18 cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

EPS decreased 18.3% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $296.9 million, a decrease of 20.6% from $373.8 million in the prior-year period.

The normalized profit margin fell to 3.6% from 4.7% in the year-earlier period.

Total revenue grew on an annual basis to $8.21 billion from $8.01 billion, and total operating expenses rose 5.1% year over year to $7.64 billion from $7.27 billion.

Reported net income fell 89.8% year over year to $250.1 million, or 15 cents per share, from $2.45 billion, or $1.43 per share.