HPE to cut 2,500 employees as stock slides 16% on weak earnings outlook

Antonio Neri, CEO of Hewlett Packard Enterprise, speaks during an interview with CNBC on the floor of the New York Stock Exchange (NYSE) in New York City, October 20, 2023. Hewlett Packard Enterprise shares slid 16% in extended trading on Thursday as the data center equipment maker issued quarterly and full-year guidance that came in below consensus. Here's how the company did in the fiscal first quarter in comparison with LSEG consensus: Earnings per share: 49 cents adjusted vs. 49 cents expected 49 cents adjusted vs. 49 cents expected Revenue: $7.85 billion vs. $7.82 billion HPE's revenue rose 16% year over year in the quarter ending on Jan. 31, according to a statement. The company was left with profit of $598 million, or 44 cents per share, up from $387 million, or 29 cents per share, in the same quarter a year earlier. The adjusted earnings per share excludes stock-based compensation. The company could have executed better in some parts of the business during the quarter, CE ... Read full article.