Company News: Hewlett Packard Enterprise (HPE) posts mixed Q3 financials and announces plans for a spin-off and merger of its non-core software assets with British software firm Micro Focus

Market news

8 September 2016

Company News: Hewlett Packard Enterprise (HPE) posts mixed Q3 financials and announces plans for a spin-off and merger of its non-core software assets with British software firm Micro Focus

Hewlett Packard Enterprise (HPE) reported Q3 FY2016 earnings of $0.49 per share, beating analysts' consensus estimate of $0.45.

The company's quarterly revenues amounted to $12.210 bln (-3.9% y/y), missing analysts' consensus estimate of $12.611 bln.

Hewlett Packard Enterprise issued downside guidance for Q4, projecting EPS of $0.44-0.49 versus analysts' consensus estimate of $0.60.

In addition, the company announced plans for a spin-off and merger of its non-core software assets with British software firm Micro Focus in a transaction valued at approx. $8.8 bln. HPE shareholders will own 50.1% of the newly merged firm.

HPE fell to $21.82 (-1.22%) in pre-market trading.

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