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Jan 31, 2023
Hewlett Packard Enterprise Q1 2023 Earnings Report
HPE delivered record-setting Q1 performance and raised fiscal 2023 guidance.
Key Takeaways
Hewlett Packard Enterprise (HPE) reported exceptional Q1 results, achieving the highest first-quarter revenue since 2016. The company's annualized revenue run rate (ARR) exceeded $1 billion for the first time, driven by the HPE GreenLake hybrid cloud platform. The company has raised financial outlook for the full year.
Revenue of $7.8 billion was up 12% from the prior-year period.
Annualized revenue run-rate (ARR) for the first time exceeded $1 billion and was up 26% from the prior-year period
Non-GAAP EPS of $0.63 was up 19% from the prior-year period, exceeding guidance.
HPE delivered exceptional results in Q1, posting our highest first quarter revenue since 2016 and best-ever non-GAAP operating profit margin.
Revenue by Segment
Forward Guidance
HPE estimates Q2 fiscal 2023 revenue to be in the range of $7.1 billion to $7.5 billion, and raises fiscal 2023 revenue growth estimate to be in the range of 5%-7% adjusted for currency. HPE raises guidance of fiscal 2023 GAAP diluted net EPS to be in the range of $1.40 to $1.48 and non-GAAP diluted net EPS to be in the range of $2.02 to $2.10. HPE reiterates guidance of $1.9 billion to $2.1 billion free cash flow.
Positive Outlook
- Estimates Q2 fiscal 2023 revenue to be in the range of $7.1 billion to $7.5 billion
- Raises fiscal 2023 revenue growth estimate to be in the range of 5%-7% adjusted for currency
- Estimates Q2 fiscal 2023 GAAP diluted net EPS to be in the range of $0.27 to $0.35 and non-GAAP diluted net EPS to be in the range of $0.44 to $0.52
- Raises guidance of fiscal 2023 GAAP diluted net EPS to be in the range of $1.40 to $1.48 and non-GAAP diluted net EPS to be in the range of $2.02 to $2.10
- Reiterates guidance of $1.9 billion to $2.1 billion free cash flow
Historical Earnings Impact
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Avg. Return Before/After Earnings
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