HPE: Fiscal 1Q23 Financial Results

Hewlett Packard Enterprise Development LP announced on March 2, 2023 financial results for the first quarter of FY23 ended January 31, 2023..

Representing 15% of global sales and 14% of non-GAAP operating profit, storage revenue was $1.187 billion for 1FQ23, up 5% from the prior-year period in actual dollars and 10% when adjusted for currency, and -7% Q/Q, with 12.0% operating profit margin, compared to 13.9% from 1FQ22.

HPE Alletra revenue growth was up triple-digits from the prior-year.

In firm’s Pointnext operational services business, combined with storage services, orders declined mid- to high single-digits and revenues were flat Y/Y, driven by uneven demand. This is a key component of recurring revenues and profit for each of company’s segments.

Effective at the beginning of 1FQ23, the firm implemented certain organizational changes to align its segment financial reporting more closely with its current business structure. This resulted in the transfer of certain storage networking products, previously reported within the storage reportable segment, to the compute reportable segment. The company reflected these changes to its segment information retrospectively to the earliest period presented, which primarily resulted in the transfer of net revenue and operating profit for each of the businesses as described above. These changes had no impact on the previously reported consolidated results.

Revenue for HPE storage since FY17
(in $ million)

* HPE changes its accounting results in 1FQ20.

Earnings call transcript