Hewlett Packard Enterprise beats by $0.03, beats on revs; guides Q3 EPS in-line; raises FY18 EPS
- Reports Q2 (Apr) earnings of $0.34 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $0.31; revenues rose 9.7% year/year to $7.47 bln vs the $7.39 bln Capital IQ Consensus.
- Hybrid IT revenue was $6.0 billion, up 7% year over year and up 4% when adjusted for currency, with a 10.3% operating margin. Compute revenue was up 6%, up 2% when adjusted for currency, Storage revenue was up 24%, up 22% when adjusted for currency, DC Networking revenue was up 2%, down 1% when adjusted for currency, and Pointnext revenue was up 1%, down 1% when adjusted for currency.
- Intelligent Edge revenue was $710 million, up 17% year over year and up 14% when adjusted for currency, with a 6.5% operating margin. HPE Aruba Product revenue was up 18%, up 14% when adjusted for currency, HPE Aruba Services revenue was up 10%, up 11% when adjusted for currency.
- Financial Services revenue +5% to $916 million and delivered an operating margin of 7.9%.
- Co issues in-line guidance for Q3, sees EPS of $0.35-0.39, excluding non-recurring items, vs. $0.36 Capital IQ Consensus Estimate.
- Co issues upside guidance for FY18, raises EPS to $1.40-1.50 from $1.35-1.45, excluding non-recurring items, vs. $1.41 Capital IQ Consensus Estimate.
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