Morgan Stanley Says HPE's 3Q Print Underwhelms Compared to Peers
Dow Jones
Yesterday
1126 ET - Under normal circumstances, HPE's third-quarter print would be very solid, Morgan Stanley analysts write in a note. "But in the context of the current environment, where generational strength in enterprise infrastructure spend is driving material beat and raises at peers, tonight's results underwhelmed," the analysts write. HPE's results didn't live up to high buyside expectations and peer results, and point to supply limiting upside in the networking business more than expected, the analysts write. The company's outlook for the next fiscal year was stronger than expected, though, and embedded conservatism in the margin guidance creates some room for upside, the analysts note. Shares fall 5.9%.
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