{"id":66130,"date":"2024-03-01T08:09:56","date_gmt":"2024-03-01T08:09:56","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/hewlett-packard-enterprise-sees-downbeat-q2-revenue-the-express-tribune\/"},"modified":"2024-03-01T08:09:56","modified_gmt":"2024-03-01T08:09:56","slug":"hewlett-packard-enterprise-sees-downbeat-q2-revenue-the-express-tribune","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/hewlett-packard-enterprise-sees-downbeat-q2-revenue-the-express-tribune\/","title":{"rendered":"Hewlett Packard Enterprise sees downbeat Q2 revenue | The Express Tribune"},"content":{"rendered":"
\n

Hewlett Packard Enterprise\u00a0on Thursday forecast second-quarter revenue below Wall Street estimates, as businesses scale down spending on the server maker’s technology solutions.<\/p>\n

Shares of the Spring, Texas based company fell about 3% in extended trading.<\/p>\n

An uncertain economy and high interest rates have led clients to cut back on expenses in a push for stronger profitability.<\/p>\n

Enterprises are hesitant to sign new contracts, commit to long-term initiatives or take on new technology partners, although IT spend is expected to increase in 2024, according to research firm Gartner.<\/p>\n

HPE expects revenue in the second quarter in the range of $6.6 billion to $7 billion, below analysts’ average estimate of $7.11 billion, according to LSEG data.<\/p>\n

It also reported a 13.5% fall in first-quarter revenue to $6.76 billion, missing estimates of $7.11 billion.<\/p>\n

CFO Marie Myers said that the “softening of the networking market and GPU deal timing” impacted the company in the first quarter.<\/p>\n

On an adjusted basis, the company reported 48 cents per share in the November-to-January quarter, above estimates of 45 cents per share.<\/p>\n

Annualized revenue run-rate, a measure of future revenue, was up 42% to $1.4 billion in the reported quarter.<\/p>\n

HPE is expected to roughly double its networking market share with its planned $14 billion\u00a0deal<\/a>\u00a0for Juniper Networks, according to analysts.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Hewlett Packard Enterprise\u00a0on Thursday forecast second-quarter revenue below Wall Street estimates, as businesses scale down spending on the server maker’s technology solutions. Shares of the Spring, Texas based company fell about 3% in extended trading. An uncertain economy and high interest rates have led clients to cut back on expenses in a push for stronger […]<\/p>\n","protected":false},"author":2,"featured_media":66131,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.tribune.com.pk\/media\/images\/1178660-hp-1473333330\/1178660-hp-1473333330.jpg","fifu_image_alt":"","footnotes":""},"categories":[8],"tags":[],"class_list":["post-66130","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t