Shares of Hewlett Packard Enterprise (NYSE: HPE) rose more than 11% on Friday, following the release of robust fiscal fourth-quarter results. By 2:50 p.m. ET, the provider of business-grade computing solutions’ stock had gained 11.8%.
Your average Wall Street analyst firm had expected fourth-quarter earnings of roughly $0.56 per share on revenue in the vicinity of $8.26 billion. HP Enterprise edged out both of these targets. Revenue rose 15% year over year to $8.5 billion in the period ended Oct. 31. Adjusted earnings increased 12% to $0.58 per diluted share.
The company’s customers were particularly interested in data center solutions. Server sales jumped 32% year over year while intelligent edge products saw 20% lower revenue.
