Hewlett Packard Enterprise Co. (NYSE: HPE) reported better-than-expected earnings for its third quarter.
Third-quarter net revenue of $7.8 billion was up 4% from the prior-year period and up 1% when adjusted for currency.
Third quarter GAAP diluted net earnings per share (EPS) from continuing operations was $0.29, up from GAAP diluted net EPS from continuing operations of $0.17 in the prior-year period. Third quarter non-GAAP diluted net EPS from continuing operations was $0.44, up from non-GAAP diluted net EPS from continuing operations of $0.22 in the prior-year period.
Third quarter non-GAAP net earnings from continuing operations and non-GAAP diluted net EPS from continuing operations exclude after-tax adjustments of $218 million and $0.15 per diluted share, respectively, primarily related to the impact of transformation costs, amortization of intangible assets, acquisition and other related charges, an adjustment to earnings from equity interests, excess tax benefits from stock based compensation, the impact of U.S. tax reform, and income tax valuation allowances and separation taxes.
"HPE has delivered a strong Q3 and our results prove we have the right strategy to deliver in the areas of highest value for our customers," said Antonio Neri, President and CEO, HPE
For the fiscal 2018 fourth quarter, Hewlett Packard Enterprise estimates GAAP diluted net EPS to be in the range of $0.16 to $0.21 and non-GAAP diluted net EPS to be in the range of $0.39 to $0.44. Fiscal 2018 fourth quarter non-GAAP diluted net EPS estimates exclude after-tax costs of approximately $0.23 per diluted share, primarily related to transformation costs and the amortization of intangible assets.
Shares increased in price 45 cents, or 2.7%, to $17.19
