Why Hewlett Packard Enterprise Stock Blasted to a New Record High on Wednesday

Shares of Hewlett Packard Enterprise (NYSE: HPE), or HPE, charged sharply higher Wednesday, soaring as much as 16.1%. As of 1:46 p.m. ET, the stock was still up 12.9%.

The catalyst that sent the server and cloud software specialist higher was its strong financial report, which held a few surprises.

For its fiscal second quarter (ended April 30), HPE generated revenue of $7.2 billion, up 3% year over year. This resulted in adjusted earnings per share (EPS) of $0.42, down 19%. Fueling the robust top-line growth was artificial intelligence (AI) systems revenue, which doubled quarter over quarter.

Source Fool.com