HPE Q3 Earnings Beat Estimates with $7.71B Revenue, $0.50 EPS, 10% YoY Growth, Shares -3% Post Market

Sep 4, 2024, 08:15 PM

Hewlett Packard Enterprise (HPE) reported its Q3 2024 earnings, surpassing analyst expectations. The company achieved revenue of $7.71 billion, exceeding the estimated $7.66 billion and marking a 10% year-over-year increase. HPE's non-GAAP earnings per share (EPS) were $0.50, higher than the expected $0.47 and up 2% year-over-year. GAAP EPS stood at $0.38, reflecting a 9% increase from the prior year and up 58% sequentially. The company also provided guidance for Q4 2024, projecting revenue between $8.1 billion and $8.4 billion and EPS between $0.52 and $0.57. HPE highlighted strong growth in its AI and cloud segments, with 3,000 new GreenLake customers and annualized revenue run rate (ARR) surpassing $1.7 billion. The company also reported $1.3 billion in AI systems revenue and $4.3 billion in server revenue, contributing to its robust performance. Despite the positive results, HPE shares fell 3% in post-market trading.