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(AOF) – Hewlett Packard Enterprise (HP), whose stock fell by nearly 3% in pre-market trading, announced a fourth-quarter profit forecast that was lower than Wall Street’s expectations. The group specializing in IT hardware and services for businesses anticipates adjusted earnings per share of between $3.35 and $3.45 for the fiscal year ending in October, compared with a previous forecast of $3.30 to $3.60.
In its third fiscal quarter, the California group recorded adjusted EPS of 83 cents compared to 86 cents a year earlier and a consensus of 86 cents.
Revenue rose 2.4 percent to $13.5 billion, above the consensus estimate of $13.38 billion. Sales of printing units fell 3 percent to $4.14 billion.
In a sign of some confidence in the future, the company announced a $10 billion share buyback program, its first since February 2020.
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