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2w ago

HPE Tops Q2 Revenue Forecast, Raises Profit Outlook

Operational improvements powered stronger-than-expected results that prompted HPE to raise its full-year profit projections.

Figurines with computers and smartphones are seen in front of Hewlett Packard Enterprise logo in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
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Overview

  • HPE posted second-quarter revenue of $7.63 billion, a 6% year-over-year increase that exceeded Visible Alpha estimates.
  • The company recorded adjusted net income of $545 million, or $0.38 per share, outperforming analyst projections despite a slight decline from last year.
  • HPE boosted the low end of its full-year adjusted EPS forecast to $1.78 from $1.70 while maintaining a high-end target of $1.90.
  • Third-quarter revenue guidance was set at $8.2 billion to $8.5 billion, surpassing Wall Street expectations.
  • Activist investor Elliott Investment has amassed a stake exceeding $1.5 billion in HPE, increasing pressure for strategic and operational changes.