HPE announces move of headquarters to Houston from San Jose

Shares of Hewlett Packard Enterprise Co. HPE,
+ 1.44%
were flat in after-hours trading on Tuesday after the information technology giant announced its fourth-quarter tax results and announced it was moving its headquarters to Houston from San Jose, California. Non-GAAP earnings were 37 cents per share, ahead of the consensus Street of 34 cents per share. Net income was $ 157 million, or 12 cents per share, compared to net income of $ 9 million, or a penny per share, a year ago. Revenue was flat at $ 7.21 billion a year ago. “We’re back to pre-pandemic revenue, which makes for a fantastic quarter,” HPE CFO Tarek Robbiati told MarketWatch. He said the move to Texas would be gradual, with HPE retaining a strategic center in San Jose. Analysts polled by FactSet expected earnings of 45 cents a share on revenue of $ 6.98 billion. HPE shares are down 29% this year. The larger SPX index of the S&P 500,
+ 1.12%
improved by 13% in 2020.