Hewlett Packard Enterprise (HPE) reported mixed third quarter financial results on Tuesday, slightly missing analyst revenue targets. However, the company raised its full-year EPS outlook, which lifted its shares after hours.
As for the numbers, the company reported third quarter net loss of $27 million, or 2 cents a share, on revenue of $7.2 billion, down 7% from a year ago. Excluding charges, HPE delivered earnings of 45 cents a share.
Wall Street was looking for third quarter non-GAAP earnings of 40 cents a share with $7.26 billion in revenue. Shares of HPE were more than 6% in after market trading.
In terms of outlook, analysts are expecting HPE to deliver Q4 earnings of at least 44 cents a share with revenue of $7.52 billion. HPE responded with fourth quarter non-GAAP earnings between 43 cents and 47 cents a share. For the fiscal year the company expects non-GAAP EPS to be in the range of $1.72 to $1.76 -- above analyst estimates for $1.67 a share.
Elsewhere on the balance sheet, HPE said quarterly revenue for its hybrid IT group was down 9% to $5.5 billion and high performance compute revenue up 2%. The company's intelligent edge revenue came to to $762 million, and financial services revenue was $888 million, down from $928 million a year ago.
Meanwhile, HPE said Nimble Storage revenue was up 21%, while Pointnext services orders and Nimble services orders were up 3%. HPE also said Aruba product revenue was down 4% while Aruba services revenue was up 16%.
"Our strong operational performance reflects continued disciplined execution as we deliberately shift and enhance our portfolio to provide customers with higher-value, software-defined offerings, delivered as a Service," said HPE CEO Antonio Neri. "I remain confident in our ability to drive profitable growth as we execute our strategy."
Neri also said the company's proposed acquisition of supercomputer giant Cray is expected to close by the end of its current quarter, earlier than expected. HPE's acquisition of MapR was announced earlier this month.