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HPE reported better-than-expected second quarter results on Tuesday, driven by growth across all of its product categories. The company noted strong demand for software as a service during the fiscal second quarter ended April 30.
Hewlett Packard Enterprise posted better than expected results for the second fiscal quarter, with net income of $ 482 million, or 19 cents per share, on revenue of $ 6.7 billion, up 11 % compared to a year ago. Excluding charges, HPE posted earnings of 46 cents per share. Analysts had expected earnings of 42 cents a share on revenue of $ 6.62 billion.
As companies reopen and resume their normal activities, “digital transformation is at the forefront of their strategic initiatives”, HPE CEO Antonio Neri said in a statement. âOur goal has been to accelerate our strategy to help our customers transform their businesses, optimize their applications and data in an increasingly distributed world, and be ready for the future, today. “
Total as-a-service orders increased 41% from the same period last year, driven by strong demand for the HPE Aruba Central SaaS platform. HPE Aruba experienced triple-digit growth from the prior year period and “is now a significant contributor” to HPE’s annualized aggregate operating revenue (ARR) rate, the company said. HPE’s ARR is up 30% from the same period a year earlier, to $ 678 million.
Revenue for the Compute segment, which includes enterprise servers, was just under $ 3 billion, up 12% year-over-year. This quarter is an improvement over the previous quarter, which recorded a decline of 1%. Intelligent Edge, which provides advanced computer systems, reported revenue of $ 799 million, up 17% from a year ago. The High Performance Computing and Critical Systems (HP & MCS) segment reported revenue of $ 685 million, up 11% from the same period a year earlier.
âOur disciplined execution of our strategic priorities is having a positive impact on performance in terms of revenue and bottom line,â Neri said in a statement. “We are strengthening our core compute and storage business, doubling our Intelligent Edge and HPC growth businesses, and accelerating our shift to service as a service, while advancing our cloud-driven innovation agenda to become the Edge-to-Cloud platform. choice as a service for our customers and partners.
The IT infrastructure company split from computer and printer giant HP in 2015. Since that split, the company has seen double-digit sales growth only twice – once in 2018 and this quarter. HPE said it had “better-than-normal sequential seasonality driven by high demand.”
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