Menu
HPE server and storage sales slump hits financials

HPE server and storage sales slump hits financials

Sales in HPE's IT business fell 10.5 per cent

Credit: HPE

Hewlett Packard Enterprise (HPE) has missed Wall Street estimates for quarterly revenue, hit by lower demand for its servers and storage products, sending its shares down about 4 per cent in trading after the bell.

Sales in its IT business, which makes storage and data center networking products, fell 10.5 per cent, while its unit that makes wireless network products posted a 6.5 per cent drop.

The company had previously warned of "uneven demand" due to US-China trade tensions.

HPE, known for its computer servers, beat analysts' average estimates for quarterly profit. Excluding items, it earned 49 cents per share, compared to estimates of 46 cents, according to IBES data from Refinitiv.

HPE, whose shares have risen 32 per cent this year, maintained expectations for full-year adjusted profit of between US$1.78 per share and US$1.94 per share.

The company posted net earnings of US$480 million, or 36 cents per share, in the fourth quarter ended Oct. 31, compared with a loss of US$757 million, or 52 cents per share, a year earlier.

HPE's revenue fell 9.2 per cent to US$7.22 billion, below analysts' estimates of US$7.4 billion.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Amy Caren Daniel)


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Events

Featured

Slideshows

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

This exclusive Reseller News Exchange event in Auckland explored the challenges facing the partner community on the cloud security frontier, as well as market trends, customer priorities and how the channel can capitalise on the opportunities available. In association with Arrow, Bitdefender, Exclusive Networks, Fortinet and Palo Alto Networks. Photos by Gino Demeer.

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security
Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomed 2019 inductees - Leanne Buer, Ross Jenkins and Terry Dunn - to the fourth running of the Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed the changing face of the IT channel ecosystem in New Zealand and what it means to be a Reseller News Hall of Fame inductee. Photos by Gino Demeer.

Reseller News welcomes industry figures at 2020 Hall of Fame lunch
Show Comments