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Hewlett Packard Downward Tick Continues

Shares of tech company Hewlett Packard Enterprise Co. (HPE) are down 6 percent on Thursday's trading continuing their downward movement since Wednesday when the company posted a dip in second-quarter profit and also lowered its full-year 2022 outlook.

The company's earnings came in at $250 million, or $0.19 per share. This compares with $259 million, or $0.19 per share, in last year's same quarter.

Excluding items, Hewlett Packard Enterprise reported adjusted earnings of $583 million or $0.44 per share for the period. Analysts on average had expected the company to earn $0.45 per share, according to figures compiled by Thomson Reuters.

The company lowered its full year 2022 earnings outlook to $1.17 to $1.31 per share and adjusted earnings of $1.96 to $2.10 per share. Previously, the company expected earnings of $1.36 to $1.50 per share and adjusted earnings of $2.03 to $2.17 per share.

Currently at $14.93, the stock has traded between $12.99 and $17.76 during the past 52 weeks.

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