HP Enterprise Earnings Top Estimates. Demand Was Strong for Networking Gear.

HP Enterprise posted solid results, driven by strong growth in the company’s networking business and increasing demand for high-performance computing and generative artificial intelligence hardware and services.

For the fiscal fourth quarter ending in October, HP Enterprise sees revenue of $7.2 billion to $7.5 billion, a range whose midpoint is a tad below the Street consensus of $7.47 billion. HP Enterprise projects profits for the quarter of 48 to 52 cents a share, putting the midpoint of the forecast range a penny above the consensus of 49 cents.

HP Enterprise said it experienced a “wave of demand acceleration” in the quarter for the HPC and AI segment, which exited the quarter with its largest-ever order book “as customers discover HPE’s unique capabilities to power unprecedented levels of performance for AI at scale.”

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HP Enterprise Earnings Top Estimates. Demand Was Strong for Networking Gear.The company also said demand for AI-related hardware and services is accelerating.
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