Hewlett Packard Enterprise reported Q3 FY2024 revenue of $7.7 billion, up 10.1% year-over-year, driven by strong Server segment performance with 35.1% growth due to higher average unit prices. Net earnings increased 10.3% to $512 million, with diluted EPS of $0.38, compared to $0.35 in the prior year period.The Server segment led growth with revenue of $4.3 billion, while Intelligent Edge revenue declined 23% to $1.1 billion amid softening network demand. Hybrid Cloud revenue decreased 6.9% to $1.3 billion. Gross profit margin contracted to 31.6% from 35.8% last year, primarily due to revenue declines in Intelligent Edge and Hybrid Cloud segments.The company maintained strong cash generation with $1.2 billion in operating cash flow and announced plans to acquire Juniper Networks for $14 billion. HPE also completed the sale of 30% stake in H3C to UNIS for $2.1 billion pre-tax consideration in September 2024, with an option to sell the remaining 19% stake between 16-36 months after the initial sale.

Hewlett Packard Enterprise reported Q3 FY2024 revenue of $7.7 billion, up 10.1% year-over-year, driven by strong Server segment performance with 35.1% growth due to higher average unit prices. Net earnings increased 10.3% to $512 million, with diluted EPS of $0.38, compared to $0.35 in the prior year period.The Server segment led growth with revenue of $4.3 billion, while Intelligent Edge revenue declined 23% to $1.1 billion amid softening network demand. Hybrid Cloud revenue decreased 6.9% to $1.3 billion. Gross profit margin contracted to 31.6% from 35.8% last year, primarily due to revenue declines in Intelligent Edge and Hybrid Cloud segments.The company maintained strong cash generation with $1.2 billion in operating cash flow and announced plans to acquire Juniper Networks for $14 billion. HPE also completed the sale of 30% stake in H3C to UNIS for $2.1 billion pre-tax consideration in September 2024, with an option to sell the remaining 19% stake between 16-36 months after the initial sale.