HPE has posted a mixed set of financial results for the year, reporting that revenue reached $29.1 billion, up 2% annually as listed, and up 5.5% on a constant currency basis.
For the year ended 31 October, 2023, the diluted net earnings per share on a GAAP basis was $1.54, up 133% from the prior-year period, which included a non-cash goodwill impairment charge of $905m.
Cash flow from operations was $4.4 billion, down $165m from last year.
Fourth quarter results saw revenue at $7.4 billion, down 7% from the prior-year period and 6% in constant currency.
The annualised revenue run-rate in the quarter was $1.3 billion, up 39% annually.
The diluted net EPS on a GAAP basis was $0.49, up 313% from the prior-year period, which included the non-cash goodwill impairment charge of $905m, and was up 40% sequentially.
"In fiscal year 2023, HPE clearly demonstrated its strategic investments and extraordinary innovation across the growth areas of edge, hybrid cloud, and AI are resonating with customers,” maintained Antonio Neri, president and CEO of Hewlett Packard Enterprise. “We delivered record performance against key financial metrics this year. Our steady execution resulted in higher revenue, further margin expansion, larger operating profit, and record-breaking non-GAAP diluted net earnings per share and free cash flow.
“As we continue to capitalise on growing market opportunities – particularly as customer interest in AI continues to explode – I am confident in our ability to deliver substantial returns to our shareholders, hence why we are raising the dividend in FY 2024.”
“The progress we’re making aligned to our edge-to-cloud strategy is evident in our top and bottom-line results,” added Jeremy Cox, senior vice president and interim CFO of Hewlett Packard Enterprise. “Given our disciplined execution and focus, we closed Q4 and fiscal year 2023 strong within an uneven IT market. We see promising indicators of continued demand in the areas of the market we are prioritising, especially in AI.”
In the fourth quarter, Intelligent Edge revenue was $1.4 billion, up 41%.
High Performance Computing & Artificial Intelligence saw sales at $1.2 billion, up 37% from the prior-year period.
Compute revenue was $2.6 billion, down 31% from the prior-year period, and Storage revenue was $1.1 billion, down 13% from last year.
Financial Services revenue was $876m, up 2%.
As HPE continues to move towards software and as-a-service revenue, the money generated from tin will continue to go down, so the uneven nature of the results will continue, for the time being.
