11/28/2023, 10:07 PM (Source: TeleTrader)
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HPE revenue down 7% to 7.4B in Q4

Hewlett Packard Enterprise reported Tuesday that sales for the fourth quarter of fiscal 2023 decreased by 7% to reach $7.4 billion compared with the same quarter a year prior. Revenue for the full fiscal 2023 stood at $29.1 billion, rising 2% year on year.

According to the report, loss from operations came in at $507 million in the three months to October 31. Meanwhile, net loss rose to $642 million or $0.49 per share. Based on the results, HPE estimates that revenue for the first quarter of 2024 will be between $6.9 billion and $7.3 billion, and diluted earnings per share (EPS) will range from $0.42 to $0.50.

"Given our disciplined execution and focus, we closed Q4 and fiscal year 2023 strong within an uneven IT market. We see promising indicators of continued demand in the areas of the market we are prioritizing, especially in AI," Jeremy Cox, the company's senior vice president and interim CFO commented.

HPE's stock fell 1.46% in the after-hours trading following the announcement.

Baha Breaking News (BBN) / DD