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Hewlett Packard Enterprise posts loss in 2nd qtr vs year-ago profit
May 31, 2017 / 8:18 PM / 6 months ago

Hewlett Packard Enterprise posts loss in 2nd qtr vs year-ago profit

May 31 (Reuters) - Hewlett Packard Enterprise Co on Wednesday reported a quarterly loss, compared to a profit a year earlier, hurt by tax valuation allowances related to the recent sale of a business unit, as well as intense competition and a strong dollar.

Palo Alto, California-based HPE — which was created from the breakup of Hewlett-Packard Co in 2015 — mainly sells servers, networking and data storage equipment to companies.

The company reported a net loss of $612 million, or 37 cents per share in the second quarter ended April 30, compared to a profit of $320 million, or 18 cents per share, a year earlier.

Revenue fell nearly 13 percent to $7.45 billion, largely reflecting the sale of its consulting and outsourcing services business. (Reporting by Pushkala A in Bengaluru; Editing by Sai Sachin Ravikumar)

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