In November 2015, Hewlett Packard announced it was splitting into two new companies. Hewlett Packard Enterprise Co (NYSE:HPE) now handles the software, server, and storage aspects of the previous company while HP Inc (NYSE:HPQ) focuses solely on printers and PCs. Many lauded the split as it was a massive yet seamless transition executed on a global scale. Now, both new companies will be posting earnings this week.

Hewlett Packard Enterprise Co

Hewlett Packard Enterprise is expected to report earnings May 24, 2016 after market close. Overall, analysts expect the company to post $0.42 per share on revenue of $12.34 billion.

Credit Suisse analyst Kulbinder Garcha is bullish on the company ahead of its earnings report. He expects the company to post quarterly revenue of $12.4 billion and earnings per share of $0.42. Many analysts are concerned about the challenging macro conditions surrounding this quarter’s report, but Garcha believes HPE “has many levers to pull to deliver decent results.”

Specifically, Garcha expects ES to “continue the course of inflection,” and deliver revenue of $4.6 billion and an operating margin of 7.5%. The analyst notes that the free cash flow recovery should reach $3.2 billion by 2017, up from $1.0 billion in 2015 due to restructuring/separation costs diminishing over time.

Some analysts believe the HP split has already started benefiting the enterprise leg of it. Looking ahead, analysts explain that the split will allow for a more distinguished and customized approach to each business, something that would not have been accomplished as one encompassing business.

According to TipRanks, the average analyst consensus for HPE is Moderate Buy, with 67% of analysts bullish and 33% of analysts neutral. All recommendations amounted to a 12-month average price target of $19.72, marking a 24.26% upside from where shares last closed.

HP Inc

HP Inc is expected to report second quarter earnings on May 25, 2016 after market close. Analysts are expecting $0.55 per share and revenue at $11.73 billion.

For the upcoming quarter, analysts are bracing themselves for declining demand for key products that will impact earnings. Specifically, demand for PCs and printers have fallen over the last decade, falling 9.6% year-over-year in the first quarter of 2016 to 64.8 million units. The persistent slow-down has taken a toll on HP Inc.’s top line.

Analysts speculate that this has little to do with the business split from parent company Hewlett Packard, but rather a result of the technology and consumer demand shift towards mobile devices and cloud storage and interest in more inexpensive solutions to mobile devices and PCs.

However, many believe that investors should not cross off HPQ from their lists any time soon, as many analysts are anticipating a recovery in the second half of 2016. HP Inc believes the industry will benefit in a consumer transition towards Windows 10 towards the end of the year.

According to TipRanks, The average analyst consensus for HP Inc is Moderate Buy with 45% of analysts offering bullish recommendations and 55% of analysts neutral. All recommendations amounted to a 12-month average price target of $13.44, marking a 15.27% upside from where shares last closed.