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.”

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hewlett Packard Enterprise shares edge up on slight revenue, earnings beatHewlett Packard Enterprise Co.’s stock inched up 1% in extended trading Tuesday after the computing giant reported quarterly results that edged analyst...
Source: MarketWatch - 🏆 3. / 97 Read more »

Why Heico Stock Is Falling After the Aerospace Supplier’s Earnings Beat EstimatesThe company reports fiscal third-quarter sales of about $723 million. Wall Street was looking for about $702 million.
Source: MarketWatch - 🏆 3. / 97 Read more »

HP Enterprise Earnings Top Estimates. Demand Was Strong for Networking Gear.The company also said demand for AI-related hardware and services is accelerating.
Source: MarketWatch - 🏆 3. / 97 Read more »