HPE stock rises as Q4 results top estimates, guidance impresses

Investing.comDec 6, 2024 12:42 AM

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Hewlett Packard Enterprise Co (NYSE:HPE) shares gained 3% in after-hours trading on Tuesday as the company reported better-than-expected fourth-quarter results and provided upbeat guidance for the upcoming quarter.

The enterprise technology solutions provider posted adjusted earnings per share of $0.58, surpassing the analyst consensus of $0.56. Revenue for the quarter reached a record $8.5 billion, up 15% YoY and exceeding the $8.26 billion estimate.

HPE's strong performance was driven by robust growth in its server and hybrid cloud segments. Server revenue jumped 32% YoY to $4.7 billion, while hybrid cloud revenue increased 18% to $1.6 billion.

"HPE delivered an exceptional fourth quarter with record quarterly revenue, capping off a strong FY 2024," said Antonio Neri, president and CEO of Hewlett Packard Enterprise. "Our differentiated portfolio across hybrid cloud, AI, and networking positions us well to capitalize on the market opportunity."

Looking ahead, HPE expects Q1 2025 adjusted EPS between $0.47 and $0.52, compared to the $0.48 consensus. The company also anticipates mid-teens percentage revenue growth YoY for the upcoming quarter.

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