Hewlett Packard Reports Better-Than-Expected Q3 Results: Details
Portfolio Pulse from Erica Kollmann
Hewlett Packard Enterprise (HPE) reported better-than-expected Q3 earnings and revenue, with significant growth in server revenue. Despite a positive outlook, HPE shares fell 3.73% after-hours.
September 04, 2024 | 8:29 pm
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Hewlett Packard Enterprise reported Q3 earnings of 50 cents per share, beating estimates. Revenue was $7.71 billion, also above expectations. Server revenue grew 35%, but Intelligent Edge and Hybrid Cloud revenues declined. Despite positive earnings and revenue outlook, shares fell 3.73% after-hours.
HPE's better-than-expected earnings and revenue, particularly the 35% growth in server revenue, are positive indicators. However, declines in Intelligent Edge and Hybrid Cloud revenues may have contributed to the after-hours share price drop. The positive earnings outlook suggests potential for future growth.
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