HP Enterprise shares surge after strong earnings report

Staff Writer
Columbus CEO

SAN FRANCISCO (AP) — Hewlett Packard Enterprise shares are surging, rising more than 14 percent on the day after the commercial technology vendor reported solid earnings in its first quarter as an independent company.

Analysts said the results were better than expected, showing the new company can increase revenue and become more profitable after spinning off from the old Hewlett-Packard last fall.

HP Enterprise sells commercial tech products and services, while another spin-off, HP Inc., is focused on personal computers and printers.

While sales were down 3 percent from a year ago, HP Enterprise said revenue from computer servers, data storage systems and networking gear all increased after adjusting for currency fluctuations.