HPE Delivers Impressive Revenue Growth In Q3, With Notable Acceleration In Customer Demand For AI
HPE News, Wednesday, September 4th, 2024
Total company orders grew and revenue increased sequentially across key business segments
HPE reported a strong third quarter performance for fiscal year 2024. We generated impressive revenue growth, as we converted more orders for our AI systems to revenue.
Specifically, this quarter:
- We increased revenue, which is up 10% year-over-year1 at the high end of our guidance
- Demand improved with an increase in total company orders and a sequential increase in revenue across key business segments
- We increased our non-GAAP2 operating margin sequentially through cost discipline Momentum continues to build for our AI systems with $1.3 billion in Q3 revenue, a 39% increase from our last quarter
- Our non-GAAP diluted net earnings per share2 once again exceeded guidance
We also have received the first payment of $2.1 billion in proceeds from the sale of part of our equity position in H3C.