Financial Data and Key Metrics Changes - The company reported revenue growth of 4% year-over-year and 7% quarter-over-quarter in constant currency, reaching $7.2 billion, exceeding the midpoint of prior guidance by approximately $400 million [27] - Non-GAAP diluted net EPS was $0.42, exceeding the high end of the guidance range, driven by strong revenue and cost discipline [29] - Free cash flow exceeded $600 million, with cash flow from operations at $1.1 billion [38] Business Line Data and Key Metrics Changes - AI systems revenue more than doubled sequentially to over $900 million, with cumulative AI systems orders reaching $4.6 billion [9][30] - Server revenues were $3.9 billion, up 16% sequentially and 18% year-over-year, driven by both AI systems and traditional servers [30] - Hybrid cloud revenues were $1.3 billion, up 1% sequentially but down 9% year-over-year [33] - Intelligent Edge revenues were $1.1 billion, down 9% sequentially and 19% year-over-year, with expectations for modest sequential growth in the latter half of the year [35] Market Data and Key Metrics Changes - Enterprise customer interest in AI is rapidly growing, with enterprise orders now comprising more than 15% of cumulative AI systems orders, and the number of enterprise AI customers nearly tripling year-over-year [10] - The number of customer organizations using HPE GreenLake increased by almost 9% sequentially to 34,000 [17] - Annualized revenue run rate (ARR) grew 39% year-over-year to above $1.5 billion [28] Company Strategy and Development Direction - The company is focusing on translating strong AI customer demand into revenue growth while maintaining cost discipline and operational efficiency [9][24] - HPE is investing in innovation across AI, hybrid cloud, and networking to drive higher profitability over time [30][42] - The company is committed to simplifying business processes and implementing automation and AI to enhance customer service and productivity [21][42] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the second half of fiscal 2024, raising full-year revenue and non-GAAP earnings per share guidance [8][23] - The company anticipates continued revenue growth driven by increased AI systems demand and ongoing improvement in traditional infrastructure markets [8][39] - Management noted that while there are challenges in the inflationary commodity market, they are managing costs effectively [48] Other Important Information - The company announced a restructuring of the sale of its stake in H3C, which is expected to provide opportunities for significant share sales in the coming months [22] - HPE is in the regulatory process for the proposed acquisition of Juniper Networks, expected to close by the end of 2024 or early 2025 [21] Q&A Session Summary Question: AI system margins compared to segment averages - Management indicated that AI revenue reached $900 million, with operating profit margins holding up well despite inflationary pressures and a competitive market [48][50] Question: Context on enterprise AI orders - Management noted that enterprise demand for AI has accelerated, with significant interest from various sectors, including sovereign clouds and traditional enterprises [55][56] Question: Sequential decline in AI backlog - Management explained that the slight decline in backlog was due to strong demand and revenue conversion, with confidence in capturing future AI opportunities [70] Question: GreenLake revenue and AI growth - Management confirmed that AI was the fastest-growing element of ARR in Q2, indicating strong integration of AI across their portfolio [76]

Core Insights - Hewlett Packard Enterprise (HPE) reported revenue of $7.2 billion for the quarter ended April 2024, reflecting a year-over-year increase of 3.3% [1] - Earnings per share (EPS) for the quarter was $0.42, down from $0.52 in the same quarter last year [1] - The reported revenue exceeded the Zacks Consensus Estimate of $6.81 billion by 5.72%, while the EPS surpassed the consensus estimate of $0.38 by 10.53% [1] Financial Performance Metrics - Revenue from Financial Services was $867 million, slightly below the estimated $872.26 million, marking a year-over-year increase of 1.1% [2] - Revenue from Corporate Investments and other segments was $252 million, exceeding the estimate of $240.27 million, but showing a significant decline of 14.9% year-over-year [2] - Hybrid Cloud revenue was reported at $1.26 billion, close to the estimated $1.27 billion [2] - Intelligent Edge revenue was $1.09 billion, slightly below the estimated $1.11 billion, representing a year-over-year decrease of 16.7% [2] - Server revenue reached $3.87 billion, surpassing the average estimate of $3.47 billion [2] - Earnings from Operations in Financial Services were $81 million, exceeding the estimate of $72.27 million [2] - Earnings from Operations in Intelligent Edge were $237 million, below the estimate of $254.06 million [2] - Corporate Investments and other segments reported a loss of $9 million, better than the estimated loss of $23.08 million [2] Stock Performance - HPE shares have returned +4.6% over the past month, outperforming the Zacks S&P 500 composite's +3.2% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

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Exhibit 99.1 Hewlett Packard Enterprise 1701 E. Mossy Oaks Road Spring, TX 77389-1767 hpe.com News Release Hewlett Packard Enterprise reports fiscal 2024 second quarter results AI systems revenue doubled sequentially, beating Q2 revenue guidance HOUSTON – June 4, 2024 – Hewlett Packard Enterprise (NYSE: HPE) today announced financial results for the second quarter ended April 30, 2024. "HPE delivered very solid results in Q2, exceeding revenue and non-GAAP EPS guidance. AI systems revenue more than doubled ...

Hewlett Packard Enterprise (HPE) has launched HPE Aruba Networking Enterprise Private 5G, a groundbreaking solution aimed at simplifying and accelerating private 5G network deployments. This initiative addresses the need for reliable wireless coverage in expansive industrial and campus environments, introducing new opportunities for private cellular use cases.For HPE Aruba Networking Enterprise Private 5G, the company has further plans to integrate it with Aruba Networking Central. This will further improve ...

Hewlett Packard Enterprise (HPE) is slated to report second-quarter fiscal 2024 results, after market close, on Jun 4.For the fiscal second quarter, Hewlett Packard Enterprise projects non-GAAP earnings per share between 36 cents and 41 cents. The Zacks Consensus Estimate for earnings is pegged at 38 cents, indicating a year-over-year decline of 26.9%.HPE expects second-quarter revenues between $6.6 billion and $7 billion. The consensus mark for quarterly revenues is pegged at $6.83 billion, suggesting a de ...

The upcoming report from Hewlett Packard Enterprise (HPE) is expected to reveal quarterly earnings of $0.38 per share, indicating a decline of 26.9% compared to the year-ago period. Analysts forecast revenues of $6.83 billion, representing a decrease of 2% year over year.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Prior to a compan ...

Here’s a technology-stock pick that’s totally out of left field, but it could be a major wealth builder. I’m talking about Hewlett Packard Enterprise (NYSE:HPE), a fast mover in the areas of cloud computing and supercomputers. Soon enough, Hewlett Packard Enterprise stock could be the market’s next multibagger that nobody saw coming.Just to be clear, the electronics producer formerly known as Hewlett-Packard split in late 2015 into two separate businesses. This “enterprise” company provides technology solut ...

Hewlett Packard Enterprise (HPE) has recently deployed Aurora supercomputer to Argonne National Laboratory. The supercomputer is developed through a private-public partnership with the U.S. Department of Energy, Argonne National Laboratory and Intel Corporation (INTC) .Aurora has demonstrated the performance of 1.012 exaflops on 87% of the system making it the second-fastest supercomputer in the world. Aurora has also secured the rank of being the largest AI-capable system in the world. Its performance of 1 ...

Hewlett Packard Enterprise (HPE) has introduced its latest Wi-Fi 7 access points (APs) called Aruba Networking 730 Series Campus APs. These APs are capable of delivering 30% more network capacity for wireless traffic compared with other products in the market. HPE also claims that its new APs will improve network security and upgrade location-based services. These features will enable the company's customers to enjoy uninterrupted connection for Internet of Things (IoT), enterprise AI, location and security ...