HP Enterprise Suspends Q2 Guidance on Coronavirus and Its ‘Too Many Unknowns’
The coronavirus outbreak's “too many unknowns” prevent Hewlett Packard Enterprise from publishing financial guidance for its fiscal Q2 ending April 30, said CEO Antonio Neri on a Q1 call Tuesday. “Macro uncertainty,” including from coronavirus-induced components shortages, sent revenue down…
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7% in Q1 ended Jan. 31, he said. The virus “is causing disruption to both supply and demand,” said Chief Financial Officer Tarek Robbiati. “While we cannot quantify the real impact at this time, we're monitoring the situation closely and are working with our suppliers to minimize potential impacts.” HP Enterprise decided to cancel or postpone most of its sales conferences and other “sponsored events” through April “out of abundance of caution” for employees, customers and partners, said Robbiati. “This is also causing supply and demand disruptions and affecting our revenue profile.” Shares closed 2.6% lower Wednesday at $12.26.