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HPE beats expectations for Q3, delivers income of $6.9 billion

HPE delivered better-than-expected third quarter earnings on Thursday and the corporate says its edge-to-cloud technique is driving improved momentum throughout its companies.

The enterprise software program participant reported third quarter income of $6.9 billion, up 1% from a yr in the past, and an non-GAAP EPS of 47 cents a share. 

Analysts had been anticipating earnings of 42 cents per share on income of $6.93 billion. Shares of HPE had been down 0.71% after hours.

Elsewhere on the stability sheet, HPE mentioned compute and mission essential techniques income was $741 million. Storage income was $1.2 billion, up 4% from the prior-year interval. Inside that phase, Nimble income was up 10% and income from All Flash Array Storage merchandise had been up greater than 30%.

In the meantime, Clever Edge income was $867 million, up 27% from the prior-year interval, and compute income was $3.1 billion, down 9% from the prior-year interval. Monetary Companies income grew to $844 million, up 4% from the prior-year interval.

HPE mentioned it had Q3 annualized income run charge of $705 million, up 33% from the identical quarter final yr.

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HPE
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HPE

As for the outlook, HPE mentioned it expects fourth quarter earnings between $0.44 and $0.52. For the fiscal yr, HPE now expects earnings within the vary of $1.88 and $1.96 a share, up from its earlier vary of $1.82 and $1.94 per share. 

Antonio Neri, president and CEO of Hewlett Packard Enterprise, mentioned the corporate had robust order progress, expanded margins and document free money movement for Q3.

“I’m happy to see how our differentiated portfolio is resonating with the market, and our edge-to-cloud technique is driving improved momentum throughout our companies,” Neri mentioned. 

“The impacts of the pandemic proceed to speed up the shift we predicted years in the past to an edge-centric, cloud-enabled and data-driven world. Now, greater than ever, corporations want safe connectivity, sooner insights from information, and a cloud expertise in every single place. We anticipate these developments to proceed. Digital transformation is not a precedence however a strategic crucial,” Neri added.

Tarek Robbiati, EVP and CFO of Hewlett Packard Enterprise, famous that the corporate was once more elevating its full-year steering to mirror the continued momentum within the demand atmosphere.

“This marks the fourth improve in our outlook since our Securities Analyst Assembly in October 2020,” Robbiati mentioned.  

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