Tech stock under pressure: Hewlett Packard Enterprise Co (NYSE: HPE) stock

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Hewlett Packard Enterprise Co (NYSE: HPE) stock fell 1.7% in the after hours session on November 4th, 2018 (Source: Google finance).

DC Networking revenue for the firm was up 2%, down 1% when adjusted for currency, and HPE Pointnext revenue was down 3%, down 3% when adjusted for currency. Financial Servicesrevenue was $939 million, down 7% year over year and down 5% when adjusted for currency, net portfolio assets were flat year over year, and financing volume was up 8% year over year. The business delivered an operating margin of 7.8%.

The company has expanded profitability in fiscal year 2018, generating $2.8 billion in non-GAAP operating profit. That is an increase of $576 million in profit over the prior fiscal year. This profitability enabled the company to exceed the free cash flow targets, generating $1.1 billion for the year, largely powered by strong cash flow from operations of $3 billion, which more than doubled over the prior year. Further, the company also returned more than $4 billion to shareholders in fiscal year 2018.

Revenue growth in EMEA continues to be strong, up eight percent in constant currency with double-digit growth in France and Italy. Performance in EMEA was robust across all business segments with notable growth in core compute at 24% and intelligent edge at 14%. The Asia Pacific was down four percent in constant currency due to the focus on profitable share in the China market. Growth in APJ, excluding China, was up two percent with solid results across all business segments with notable strength in core compute, which grew 18%.

Intelligent Edgerevenue was $814 million, up 17% year over year and up 15% when adjusted for currency, with 10.1% operating margin. HPE Aruba Product revenue was up 17%, up 15% when adjusted for currency, and HPE Aruba Services revenue was up 16%, up 16% when adjusted for currency. Hybrid ITrevenue was $6.4 billion, up 5% year over year and up 4% when adjusted for currency, with 11.9% operating margin. Compute revenue was up 9%, up 7% when adjusted for currency, Storage revenue was up 6%, up 4% when adjusted for currency,

HPE in the fourth quarter of FY 18 has reported the adjusted earnings per share of 45 cents, beating the analysts’ estimates for the adjusted earnings per share of 43 cents. The company had reported the adjusted revenue growth of 3 percent to $7.95 billion in the fourth quarter of FY 18, beating the analysts’ estimates for revenue of $7.84 billion.

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