HPE Q1 FY23 Earnings And Revenues Beat Estimates

HPE started fiscal 2023 on a solid note by reporting better-than-expected financial results for the first quarter, with total HPE revenue increasing to $7.8 billion. The reported financial results reflected the company’s highest Q1 revenue since 2016 and significantly above the high end of their outlook. These results show the relevance of HPE’s edge-to-cloud strategy, the transformation of its industry-leading portfolio, and the outstanding execution of its team.

Powered by the market-leading hybrid cloud platform HPE GreenLake, HPE unlocked an impressive run rate of $1 billion in annualized revenue for the first time. Moreover, an improvement in the supply chain helped the company deliver customer orders, which boosted the overall quarterly performance. Despite high inflationary pressure, macroeconomic headwinds, and geopolitical issues, the company witnessed an increase in earnings and sales.

These results, combined with a winning strategy and proven execution, empower HPE to focus their attention and are investing to carry the momentum well into the second half of FY23 and FY24.

Download the Q1 FY23 earnings infographic here.


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