Strategic Shift Toward Edge, Hybrid Cloud And AI Delivers Solid Results In Q3
HPE News, Tuesday, August 29,2023
Revenue growth and gross margin expansion driven by outstanding peformance in Intelligent Edge and HPE GreenLake
HPE reported third quarter financial performance, and I am pleased that we have delivered another solid quarter. In an IT market that is still pressured in some areas, we again increased our revenue, gross margin, and earnings per share, year-over-year. Our results are being driven by our intentional, ongoing shift to higher-growth, higher-margin parts of our portfolio. We delivered exceptional performance in the Intelligent Edge, where revenue set its fifth consecutive quarterly record, and HPE GreenLake, which has helped generate higher recurring revenue and gross profit across our product segments. Demand for our products and services grew sequentially in the third quarter across all business segments - driven by high-growth areas like AI and HPE GreenLake.