Stefan Mileschin

Thanks to storage and data centre gear

The former maker of expensive printer ink, HPE beat analysts’ estimates for quarterly profit and revenue, thanks mostly to greater demand for its storage and data centre networking gear.

HPE’s been suffering a bit lately as its server business has struggled with corporate customers buying cheaper non-branded servers.

HPE cut costs as part of its HPE Next initiative announced last year, aiming to drive gross cost savings of $1.5 billion in the next three years.

The company forecast current-quarter adjusted earnings between 33 cents and 37 cents per share, the mid-point of which came in line with Wall Street estimates.

Revenue from Hybrid IT division, which houses servers, storage and data centre networking products, rose 4.6 percent to $6.44 billion, above analysts’ estimates of $6.30 billion.

The company’s net loss was $757 million in the fourth quarter ended 31 October from a profit of $524 million a year earlier.

HPE’s revenue rose 3.7 percent to $7.95 billion, above analysts’ average estimate of $7.84 billion.

https://fudzilla.com/news/network/47...eats-estimates