HPE Revenue Declines 14% in Q1, Stock Drops; FY 2024 Outlook Reduced, NetApp's Stock Rises
Hewlett Packard Enterprise (HPE) reports a 14% YoY revenue decline to $6.76B in Q1, with server revenue down 23% to $3.4B. HPE reduces its FY 2024 sales growth and profit outlook due to lower networking product demand and chip availability issues. HPE's stock drops on the revenue decline, while NetApp's stock rises. HPE attributes the decline to weakening networking demand expected to persist through FY 2024. Despite challenges, HPE CEO Antonio Neri highlights strong profitability in Q1.
Sources
R “Ray” Wang 王瑞光 #Cupertino #AI #Energy R.NFT
MyPOV: @HPE’s stock drops on big revenue decline, while NetApp heads upward https://t.co/N0tDg8ckPV @SiliconANGLE @Mike_Wheatley “This year will show if Antonio Neri and his team can find a route to growth, as they’ll be hard pushed to keep maintaining” @holgermu @constellationr
Yahoo Finance "There's a lot to be proud about in this quarter," $HPE CEO @AntonioNeri_HPE says on mixed Q1 earnings. "Overall, we continue to drive very strong profitability." https://t.co/PBuya9qBDw
CRN Hewlett Packard Enterprise is feeling the effects of weakening networking demand which it expects to persist through Fiscal Year 2024. @StevenJBurke has the details: https://t.co/3uLMoHH5sB
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