Hewlett Packard Reported Quarterly Results to be Largely in Line with Expectations
Hewlett Packard (HPE) non-GAAP EPS of $0.52 beats by $0.02, while revenue of $7.35 billion (-6.6% YoY) missed expectations by $20 million. HPE’s annual profit stood at $2.03 billion.
In terms of guidance, HP estimates fiscal 2024 GAAP diluted net EPS to be in the range of $1.81 to $2.01 and reiterates non-GAAP diluted net EPS to be in the range of $1.82 to $2.02 vs $2.13 consensus. The company also navigated its expectations in terms of revenue in the range of $6.9 billion to $7.3 billion for the fiscal Q1.
It’s worth remembering that HP was split into two separate companies, HP Inc. and Hewlett Packard Enterprise, in 2015 to focus on PC and server businesses, respectively. The financial results were rather lukewarm explaining why Korea Investment Corp lowered its stake in Hewlett Packard Enterprise by 55.5% during Q2 2023.
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