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March 4, 2016updated 05 Sep 2016 7:42am

‘Focused’ and ‘nimble’ HPE delivers strong first quarter

News: HPE president and CEO Meg Whitman praised the company's progress, as revenues hit $12.72bn.

By CBR Staff Writer

Hewlett Packard Enterprise (HPE) has reported its first quarterly results since HP’s split into HPE and HP Inc in November last year.

The software, storage and server company reported earnings of $300m, with $12.72 billion in revenue – an decrease of 3% from the same period in 2015.

Revenue in HPE’s enterprise group business increased about 1% to $7.1bn in the fiscal first quarter ending 31 January 2016, from $6.98bn in Q1 2015.

In the enterprise group, revenue from servers dropped 1%, storage fell 3%, networking rose 54%, and technology services declined 9%.

Enterprise services revenue declined 6% to $4.7bn, and software revenue dropped 10% to $780m.

In enterprise services, revenue from infrastructure technology outsourcing dropped 8%, and application and business services dipped 3%.

In software business, revenue from license revenue fell 6%, support declined 13%, professional services decreased 7%, and software-as-a-service (SaaS) fell 9%.

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Financial services revenue fell 3% to $776m, compared to $803m in the last year period.

The company returned $1.3bn in capital to its shareholders and is increasing its commitment to return about 100% of its free cash flow outlook to shareholders.

HPE president and CEO Meg Whitman said: "During our first quarter as an independent company, we saw the progress that comes from being more focused and nimble.

"We delivered a third consecutive quarter of year-over-year constant currency revenue growth, and excluding the impact of recent M&A activity, we saw revenue growth in constant currency across every business segment for the first time since 2010."

 

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