After a promising quarter, HPE is moving to Houston

After a promising quarter, HPE is moving to Houston

Hewlett Packard Enterprise is trading Silicon Valley for Houston

It seems like the end of a quarter, and the beginning of another means a change of location for some companies, this being the case for Hewlett Packard Enterprise.

The tech company is shifting its focus from San Jose to Houston, leaving Silicon Valley behind. According to the statement released by the company, "HPE's largest U.S. employment hub, Houston, is an attractive market to recruit and retain future diverse talent and is where the company is currently constructing a state-of-the-art new campus." From the experts’ point of view, the pandemic turned out to be a valid reason for companies to leave Silicon Valley, some of them being Dropbox and Palantir.

Along with the decision came the Q4 2020 earnings report. In the past quarter, HP had an adjusted EPS of 37 cents, ahead of the market's 34 cents. The revenues came in at $7.21 billion, topping the $6.88 billion forecasted. The figures marked a return to the pre-pandemic levels and a 6% increase from the revenues posted in Q3 2020. On January 6, 2021, the company will pay dividends of 12 cents per share.

For the future, the company expects its EPS to reach a high of 44 cents.

After the news hit the wire, the company's share price gained more than 1%.

Sources: businesswire.com, cnbc.com

The information presented herein is prepared by CAPEX.com and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.

Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.