Home ยป HPE’s Latest Quarter Revenue Increases by 1% to $7 Billion

HPE’s Latest Quarter Revenue Increases by 1% to $7 Billion

Hewlett Packard Enterprise (HPE) has reported its financial results for the third quarter of 2023, ending in July. The company’s revenue reached $7.002 billion, a 1% increase compared to the same period last year. The Annual Run Rate (ARR) revenue also saw a significant growth of 48% to $1.3 billion, while the net profit according to GAAP accounting standards stood at $464 million.

Antonio Neri, the President and CEO of HPE, attributed these positive results to the success of the Intelligent Edge and HPE GreenLake business units. The HPC & AI group also maintained its strong performance, driven by increasing customer demand, which is reflected in the higher profit numbers.

The Intelligent Edge business unit generated $1.415 billion in revenue, a 50% increase, with a profit margin of 29.7%. The HPC & AI group saw a 1% revenue growth to $836 million. On the other hand, the Compute group experienced a 13% decline in revenue to $2.624 billion, while the Storage group’s revenue decreased by 5% to $1.074 billion.

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