Hewlett Packard Enterprise Q2 2024 Earnings Report
Key Takeaways
Hewlett Packard Enterprise (HPE) announced its financial results for the second quarter ended April 30, 2024, with revenue at $7.2 billion, up 3% year-over-year. The company exceeded revenue and non-GAAP EPS guidance, driven by strong AI systems order conversion and prudent cost discipline. Due to robust AI systems order momentum and disciplined execution across the portfolio, HPE is raising its revenue and non-GAAP EPS guidance for the full year.
Revenue was $7.2 billion, up 3% year-over-year.
ARR was $1.5 billion, up 37% year-over-year.
GAAP EPS was $0.24, and non-GAAP EPS was $0.42, above the guidance range.
Free cash flow was $610 million, an increase of $322 million year-over-year.
Hewlett Packard Enterprise
Hewlett Packard Enterprise
Hewlett Packard Enterprise Revenue by Segment
Forward Guidance
HPE estimates revenue to be in the range of $7.4 billion to $7.8 billion for the third quarter of fiscal 2024. HPE estimates GAAP diluted net EPS to be in the range of $0.29 to $0.34 and non-GAAP diluted net EPS to be in the range of $0.43 to $0.48.
Positive Outlook
- Revenue to be in the range of $7.4 billion to $7.8 billion.
- GAAP diluted net EPS to be in the range of $0.29 to $0.34.
- Non-GAAP diluted net EPS to be in the range of $0.43 to $0.48.
Revenue & Expenses
Visualization of income flow from segment revenue to net income