HPE revenue drops 9% to $7.22 bn in fourth quarter

Hewlett Packard Enterprise (HPE) said its revenue fell 9.2 percent to $7.22 billion in the fourth quarter ended Oct. 31.
The company posted net earnings of $480 million, or 36 cents per share, in the fourth quarter ended Oct. 31, compared with a loss of $757 million, or 52 cents per share, a year earlier.

The company had previously warned of “uneven demand” due to U.S.-China trade tensions.

Hewlett Packard Enterprise, known for its computer servers.

Hewlett Packard Enterprise was hit by lower demand for its servers and storage products.

Sales in its IT business, which makes storage and data center networking products, fell 10.5 percent, while its unit that makes wireless network products posted a 6.5 percent drop.