HPE ‘More Focused’ As It Delivers Strong First Quarter

Meg Whitman has heralded her company as “more focused and nimble” after Hewlett Packard Enterprise (HPE) delivered stronger-than-expected results for its first financial quarter of 2016.

This is the first time HPE has reported its results following its HP’s split into HPE and HP Inc last year.

£212m

The company, which sells servers, storage, and software for enterprises, reported earnings of $300 million (£212m) , with revenue at $12.72 billion (£9bn), down three percent from the previous year. Wall street analysts had expected the company to report sales of $12.68 billion.

“During our first quarter as an independent company, we saw the progress that comes from being more focused and nimble,” said Whitman. Shares jumped five percent on the news last night.

“We delivered a third consecutive quarter of year-over-year constant currency revenue growth, and excluding the impact of recent M&A activity, we saw revenue growth in constant currency across every business segment for the first time since 2010,” she said.

The split, under full support of Whitman, is meant to help both HP Inc and HPE “zero in” on its goals.

Breakdown

Breaking down HPE’s segment results, the company’s enterprise group reported revenue of $7.1 billion (£5bn). However, server revenue fell one percent.

HPE’s enterprise services revenue was $4.7 billion (£3.3bn), down six percent year over year. Infrastructure Technology Outsourcing revenue was down 8 percent, 2 percent in constant currency.

Software revenue was $780 million (£551m), down three percent year over year, but up three percent in constant currency. Net portfolio assets were up 4 percent.

Take our cloud quiz here!

Ben Sullivan

Ben covers web and technology giants such as Google, Amazon, and Microsoft and their impact on the cloud computing industry, whilst also writing about data centre players and their increasing importance in Europe. He also covers future technologies such as drones, aerospace, science, and the effect of technology on the environment.

Recent Posts

Amazon Last Minute Extension For Visa Card Payments

UK Amazon users can continue using their Visa cards for online shopping for now, after…

1 hour ago

Uber Competitor Bolt Raises Prices 10 Percent In London

Uber competitor Bolt raises prices 10 percent in London amidst driver shortage and regulatory changes…

1 day ago

US Auto Regulator Discusses ‘Safety Concerns’ With Tesla

US and Canadian regulators looking into possible safety issues with Tesla Model 3 and Model…

1 day ago

Cryptocurrency Funds Show Gains In Spite Of Selloff

Cryptocurrency-centric funds show strong gains for 2021, as assets such as Bitcoin and Ether rise…

1 day ago

Google, Facebook Chiefs Signed Off On Secret Deal, Lawsuit Says

Google's Sundar Pichai and Facebook's Mark Zuckerberg signed off on a deal to carve up…

1 day ago

North Korean Hackers ‘Stole $400m’ In 2021

Study finds North Korea-based hackers stealing more than $200m in cryptocurrency a year, rising to…

1 day ago