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Hewlett Packard Enterprise Raises Outlook for Fiscal Year

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Hewlett Packard Enterprise (HPE) has announced an increase in its adjusted earnings forecast for the current fiscal year following its strong revenue growth in the latest quarter.

Adjusted Earnings Outlook

The edge-to-cloud company now projects adjusted earnings per share to be between $2.11 and $2.15 for fiscal 2023. This is an upward revision from the previous outlook of earnings in the range of $2.06 and $2.14 per share on an adjusted basis.

Narrowed Earnings Guidance

HPE has also narrowed its earnings per share guidance for the fiscal year. It now expects earnings to fall between $1.42 and $1.46, compared to the previous guidance of $1.42 and $1.50.

Revenue Growth Forecast

For fiscal 2023, HPE anticipates revenue growth to be in the range of 4% and 6% in constant currency.

Fourth Quarter Projections

In the fourth quarter, HPE estimates its revenue to range between $7.2 billion and $7.5 billion. The projected earnings per share range is between 36 cents and 40 cents, while adjusted earnings per share is set in the range of 48 cents and 52 cents. Analysts surveyed by FactSet had predicted revenue of approximately $7.47 billion, earnings per share of around 35 cents, and adjusted earnings per share of nearly 49 cents.

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