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Hewlett Packard Enterprise profit misses consensus by 57.6% in fiscal Q2

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Hewlett Packard Enterprise profit misses consensus by 57.6% in fiscal Q2

Hewlett Packard Enterprise Co. said its normalized net income for the fiscal second quarter ended April 30 amounted to 15 cents per share, compared with the S&P Capital IQ consensus estimate of 35 cents per share.

EPS declined 24.3% year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $246.9 million, a decline of 28.3% from $344.4 million in the prior-year period.

The normalized profit margin dropped to 3.3% from 4.0% in the year-earlier period.

Total revenue declined 12.5% year over year to $7.45 billion from $8.51 billion, and total operating expenses decreased 11.9% year over year to $6.96 billion from $7.91 billion.

Reported net income totaled a loss of $480.8 million, or a loss of 29 cents per share, compared with income of $315.2 million, or 18 cents per share, in the prior-year period.