Hewlett Packard Enterprise Shares Surge 16%

(RTTNews) - Hewlett Packard Enterprise Company (HPE) shares surged 16.40 percent, gaining $7.71 to $54.71 on Tuesday, likely extending gains from the company's strong second-quarter results announced a day earlier.

The stock is currently trading at $54.71, compared with its previous close of $47.00 on the New York Stock Exchange. During the session, it opened at $63.06 and traded between $54.21 and $64.25. Volume reached 95.46 million shares, significantly above its average volume of 20.16 million shares.

The enterprise technology company reported a swing to profit as revenue climbed sharply, driven by robust growth in networking and AI-related infrastructure demand. HPE also raised its full-year guidance. Net earnings attributable to common stockholders were $595 million, or $0.44 per share, compared with a loss of $1.08 billion, or $0.82 per share, a year ago. Adjusted earnings increased to $0.79 per share from $0.38 per share, while revenue jumped 40.0% to a record $10.68 billion.

HPE shares have traded between $17.16 and $64.25 over the past 52 weeks