HPE revenue jumps 12% to $7.8 bn in first quarter

Hewlett Packard Enterprise (HPE) said its revenue jumped 12 percent to $7.8 billion for the first quarter ended January 31, 2023.
HPE HPC as a service
HPE said its revenue was the highest first-quarter performance for the company since 2016.

HPE generated revenue of $1.1 billion (+34 percent) from High Performance Computing & Artificial Intelligence (“HPC & AI”), $3.5 billion (+14 percent) from Compute, $1.1 billion (+25 percent) from Intelligent Edge and $873 million (+4 percent) from Financial Services. HPE’s Storage revenue rose 5 percent to $1.2 billion.

HPE estimates revenue will be in the range of $7.1 billion to $7.5 billion in its fiscal 2023 second quarter.

“Powered by our market-leading hybrid cloud platform HPE GreenLake, we unlocked an impressive run rate of $1 billion in annualized revenue for the first time. These results, combined with a winning strategy and proven execution, position us well for FY23, and give us confidence to raise our financial outlook for the full year,” said Antonio Neri, president and CEO of Hewlett Packard Enterprise.

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