Hewlett Packard keeps climbing

Source: Dukascopy Bank SA


Hewlett Packard Enterprise had a strong third quarter with good revenue growth, especially from AI systems, and higher profits. Quarterly results show progress with business strategies related to cloud and AI, as well as continuing to innovate to stay competitive in the industry.

In Q3 of fiscal 2024, the company earned $7.7 billion in revenue, up 10% from last year. Gross margins were 31.8%, down from last year, and earnings per share were $0.50, up 2%. Cash flow from operations fell to $1.15 billion, and free cash flow dropped to $669 million. The company returned $221 million to shareholders.

Server revenue grew 35% to $4.3 billion, while revenue from Intelligent Edge and Hybrid Cloud declined. Financial Services revenue grew 1% to $879 million, with net assets down 2.7% and return on equity at 17.4%.

The stock is trading around $22.00. Stock price has grown in the last 30 days by more than 14.00%.
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