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BUZZ-Hewlett Packard shares rise on strong quarterly revenue forecast

Reuters
Mar 10
BUZZ-Hewlett Packard shares rise on strong quarterly revenue forecast

** Shares of AI server maker Hewlett Packard Enterprise HPE.N rise nearly 3% to $22.4 premarket

** Co forecast Q2 revenue above Wall St estimates, on growing demand for networking equipment, higher-margin orders

** J.P.Morgan maintains "overweight" stance, flags company's handling of rising memory costs, price changes

** Pressure on traditional‑server margins, tougher AI‑server Q2 revenue mix, slightly lower Cloud & AI outlook due to price elasticity - brokerage

** Adds, for now, better outlook on networking helps offset these pressures

** HPE's Q1 revenue of $9.30 billion missed estimate; adj. EPS of 65 cents beat

** 22 analysts rate HPE "buy" on average; median PT is $26 - data compiled by LSEG

** As of last close, stock down about 9% YTD

(Reporting by Akriti Shah in Bengaluru)

((akriti.shah@thomsonreuters.com))

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