News Provided by CNBC
December 1, 2020

KEY POINTS

  • Hewlett Packard Enterprise is relocating its headquarters to Houston, Texas.
  • The company is currently constructing a new campus.
  • The coronavirus pandemic has given a number of tech companies, and prominent Silicon Valley figures, an excuse to exit California.

Hewlett Packard Enterprise is the latest tech company to shift its focus away from Silicon Valley, announcing Tuesday that it will relocate its headquarters from San Jose, California, to Houston, Texas.

“HPE’s largest U.S. employment hub, Houston is an attractive market to recruit and retain future diverse talent, and is where the company is currently constructing a state-of-the-art new campus,” the company said in its fourth quarter earnings release. It’s unclear how many employees the move will affect, though the company said no layoffs will be with the move.

For its fourth quarter, the company reported:

Revenue: $7.21 billion vs $6.88 billion expected, according to a consensus estimate from Refinitiv.
Earnings: $0.37 per share (adjusted), compared with $0.34 expected, as per Refinitiv.
The company also raised guidance for the 2021 fiscal year. Shares were little changed in after hours trading.

READ MORE