Why Hewlett Packard Enterprise Stock Tumbled Today
Shares of Hewlett Packard Enterprise (NYSE: HPE) slumped on Friday after the company reported fiscal second-quarter results that missed the mark and announced plans to slash costs over the next three years. HPE reported second-quarter revenue of $6.0 billion, down 16% year over year and $280 million below the average analyst estimate. Revenue in the computer segment, HPE's largest, was down 19% to $2.6 billion.