Exceeds profitability expectations and continues to scale recurring revenue, advancing long-term strategy
HOUSTON–(BUSINESS WIRE)–Hewlett Packard Enterprise (NYSE: HPE) today announced financial results for the first quarter ended January 31, 2024.
“HPE exceeded our profitability expectations and drove near-record year-over-year growth in our recurring revenue in the face of market headwinds, demonstrating the relevance of our strategy,” said Antonio Neri, president and CEO of Hewlett Packard Enterprise. “Despite a mixed quarter, I remain very confident that our focus on customer-centric innovation and our track record of operational discipline will allow us to capitalize on the significant market opportunities in AI as well as across edge and hybrid cloud and to deliver value to our shareholders.”
“HPE drove momentum in annualized revenue run-rate and gross margins in Q1 despite challenges brought by the softening of the networking market and GPU deal timing,” said Marie Myers, executive vice president and CFO of Hewlett Packard Enterprise. “The fundamentals of our business are strong, we are controlling what we can control, and we are optimistic about delivering strong shareholder returns over the remainder of the fiscal year.”
First Quarter Fiscal 2024 Financial Results
- Revenue: $6.8 billion, down 14% from the prior-year period in actual dollars and in constant currency(1)
- Annualized revenue run-rate (“ARR”)(2): $1.4 billion, up 42% from the prior-year period and 41% in constant currency(1)
-
Gross margins:
- GAAP of 36.4%, up 240 basis points from the prior-year period and up 160 basis points sequentially
- Non-GAAP(1) of 36.2%, up 200 basis points from the prior-year period and up 140 basis points sequentially
-
Diluted net earnings per share (“EPS”):
- GAAP of $0.29, down 24% from the prior-year period, and down 41% sequentially, above the midpoint of our guidance range of $0.24 to $0.32
- Non-GAAP(1) of $0.48, down 24% from the prior-year period and down 8% sequentially, at the high end of our guidance range of $0.42 to $0.50
- Cash flow from operations: $64 million, an increase of $893 million from the prior-year period
- Free cash flow (“FCF”)(1)(3): $(482) million, an increase of $844 million from the prior-year period
- Capital returns to shareholders: $172 million in the form of dividends and share repurchases
First Quarter Fiscal 2024 Segment Results
- Server revenue was $3.4 billion, down 23% from the prior-year period in actual dollars and in constant currency(1), with 11.4% operating profit margin, compared to 15.7% from the prior-year period. The Server business segment combines the previously separately reported Compute and HPC & AI business segments, with adjustments for certain product lines that are now reported in Hybrid Cloud. The merged Server segment more accurately reflects HPE’s position in the market as well as recent organizational and leadership changes that were implemented in Q1 FY24.
- Intelligent Edge revenue was $1.2 billion, up 3% from the prior-year period in actual dollars and 2% in constant currency(1), with 29.4% operating profit margin, compared to 19.4% in the prior-year period.
- Hybrid Cloud revenue was $1.2 billion, down 10% from the prior-year period in actual dollars and in constant currency(1), with 3.8% operating profit margin, compared to 5.8% from the prior-year period.
- Financial Services revenue was $873 million, flat from the prior-year period in actual dollars and down 2% in constant currency(1), with 8.5% operating profit margin, compared to 7.2% from the prior-year period. Net portfolio assets of $13.2 billion, up 0.3% from the prior-year period in actual dollars and up 0.7% in constant currency(1). The business delivered return on equity of 15.4%, down 2.4 points from the prior-year period.
Dividend
The HPE Board of Directors declared a regular cash dividend of $0.13 per share on the company’s common stock, payable on April 12, 2024, to stockholders of record as of the close of business on March 15, 2024.
Fiscal 2024 Second Quarter Outlook
HPE estimates revenue to be in the range of $6.6 billion to $7.0 billion. HPE estimates GAAP diluted net EPS to be in the range of $0.20 to $0.25 and non-GAAP diluted net EPS(1) to be in the range of $0.36 to $0.41. Fiscal 2024 second quarter non-GAAP diluted net EPS estimates exclude net after-tax adjustments of approximately $0.16 per diluted share, primarily related to stock-based compensation expense and amortization of intangible assets.
Fiscal 2024 Outlook
HPE estimates fiscal 2024 revenue growth to be flat to 2%, in constant currency(1)(5), and fiscal 2024 GAAP operating profit growth to be in the range of 7% to 11% and non-GAAP operating profit(1)(4) growth to be flat to 2%. HPE estimates GAAP diluted net EPS to be in the range of $1.81 and $1.91 and non-GAAP diluted net EPS(1) to be in the range of $1.82 and $1.92. Fiscal 2024 non-GAAP diluted net EPS estimates exclude net after-tax adjustments of approximately $0.01 per diluted share, primarily related to stock-based compensation expense, amortization of intangible assets, transformation costs, acquisition, disposition and other related charges, structural tax-rate adjustments, H3C income, and adjustments related to the sale of H3C. HPE estimates free cash flow(1)(3)(5) to be at least $1.9 billion.
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1 |
A description of HPE’s use of non-GAAP financial information is provided below under “Use of non-GAAP financial information and key performance metrics.” |
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2 |
Annualized Revenue Run-Rate (“ARR”) is a financial metric used to assess the growth of the Consumption Services offerings. ARR represents the annualized revenue of all net HPE GreenLake edge-to-cloud platform services revenue, related financial services revenue (which includes rental income from operating leases and interest income from finance leases), and software-as-a-Service, software consumption revenue, and other as-a-Service offerings, recognized during a quarter and multiplied by four. We use ARR as a performance metric. ARR should be viewed independently of net revenue and is not intended to be combined with it. |
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3 |
FCF represents cash flow from operations, less net capital expenditures (investments in property, plant & equipment (“PP&E”) less proceeds from the sale of PP&E), and adjusted for the effect of exchange rate fluctuations on cash, cash equivalents, and restricted cash. |
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4 |
FY24 non-GAAP operating profit excludes costs of approximately $1.0 billion primarily related to stock-based compensation expense, amortization of intangible assets, transformation costs, and acquisition, disposition and other related charges. |
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5 |
Hewlett Packard Enterprise provides certain guidance on a non-GAAP basis. In reliance on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K, Hewlett Packard Enterprise is unable to provide a reconciliation to the most directly comparable GAAP financial measure without unreasonable efforts, as the Company cannot predict some elements that are included in such directly comparable GAAP financial measure. These elements could have a material impact on the Company’s reported GAAP results for the guidance period. Refer to the discussion of non-GAAP financial measures below for more information. |
About Hewlett Packard Enterprise
Hewlett Packard Enterprise (NYSE: HPE) is the global edge-to-cloud company that helps organizations accelerate outcomes by unlocking value from all of their data, everywhere. Built on decades of reimagining the future and innovating to advance the way people live and work, HPE delivers unique, open and intelligent technology solutions as a service. With offerings spanning Cloud Services, Server, Intelligent Edge, Software, and Hybrid Cloud, HPE provides a consistent experience across all clouds and edges, helping customers develop new business models, engage in new ways, and increase operational performance. For more information, visit: www.hpe.com.
Use of non-GAAP financial information and key performance metrics
To supplement Hewlett Packard Enterprise’s condensed consolidated financial statement information presented on a generally accepted accounting principles (“GAAP”) basis, Hewlett Packard Enterprise provides financial measures, including revenue on a constant currency basis (including at the business segment level), non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP operating profit (non-GAAP earnings from operations), non-GAAP operating profit margin (non-GAAP earnings from operations as a percentage of net revenue), non-GAAP income tax rate, non-GAAP net earnings, non-GAAP diluted net earnings per share and free cash flow (“FCF”). Hewlett Packard Enterprise also provides forecasts of revenue growth on a constant currency basis, non-GAAP diluted net earnings per share, non-GAAP operating profit growth, and FCF. Reconciliations of each of these non-GAAP financial measures to their most directly comparable GAAP measures for this quarter and prior periods are included in the tables below or elsewhere in the materials accompanying this news release. In addition an explanation of the ways in which Hewlett Packard Enterprise’s management uses these non-GAAP measures to evaluate its business, the substance behind Hewlett Packard Enterprise’s decision to use these non-GAAP measures, the material limitations associated with the use of these non-GAAP measures, the manner in which Hewlett Packard Enterprise’s management compensates for those limitations, and the substantive reasons why Hewlett Packard Enterprise’s management believes that these non-GAAP measures provide supplemental useful information to investors is included further below. This additional non-GAAP financial information is not meant to be considered in isolation or as a substitute for revenue, gross profit, gross profit margin, operating profit (earnings from operations), operating profit margin (earnings from operations as a percentage of net revenue), net earnings, diluted net earnings per share, and cash flow from operations prepared in accordance with GAAP.
In addition to the supplemental non-GAAP financial information, Hewlett Packard Enterprise also presents annualized revenue run-rate (“ARR”) and as-a-Service (“AAS”) orders as performance metrics. ARR is a financial metric used to assess the growth of the Consumption Services offerings. ARR represents the annualized revenue of all net HPE GreenLake edge-to-cloud platform services revenue, related financial services revenue (which includes rental income for operating leases and interest income from finance leases), and software-as-a-service (“SaaS”), software consumption revenue, and other as-a-service offerings, recognized during a quarter and multiplied by four. AAS orders are an overlay across all business segments contributing to HPE’s consumption-based services (both recurring and non-recurring revenues), and includes hardware, as well as HPE GreenLake as-a-Service, Aruba SaaS, storage SaaS, and other software assets. ARR & AAS orders should be viewed independently of net revenue and deferred revenue and are not intended to be combined with any of these items.
Forward-looking statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties, and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of Hewlett Packard Enterprise Company and its consolidated subsidiaries (“Hewlett Packard Enterprise”) may differ materially from those expressed or implied by such forward-looking statements and assumptions. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”, “guides”, “will”, “estimates”, “may”, “could”, “should”, and similar expressions are intended to identify such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to any anticipated financial or operational benefits associated with the recent segment realignment; any projections, estimations, or expectations of addressable markets and their sizes, revenue (including annualized revenue run rate), margins, expenses (including stock-based compensation expenses), investments, effective tax rates, interest rates, investments, net earnings, net earnings per share, cash flows, liquidity and capital resources, inventory, order backlog, share repurchases, dividends, currency exchange rates, repayments of debts, amortization of intangible assets, or other financial items; any projections or estimations of future orders, including as-a-service orders; any statements of the plans, strategies, and objectives of management for future operations, as well as the execution and consummation of corporate transactions or contemplated acquisitions (including our proposed acquisition of Juniper Networks, Inc.) and dispositions (including disposition of our H3C shares and the receipt of proceeds therefrom), research and development expenditures, and any resulting benefit, cost savings, charges, or revenue or profitability improvements; any statements concerning the expected development, performance, market share, or competitive performance relating to products or services; any statements concerning technological and market trends, the pace of technological innovation, and adoption of new technologies, including artificial intelligence and other products and services offered by Hewlett Packard Enterprise; any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on Hewlett Packard Enterprise and our financial performance, including but not limited to demand for our products and services; any statements of expectation or belief, including those relating to future guidance and the financial performance of Hewlett Packard Enterprise; and any statements of assumptions underlying any of the foregoing.
Risks, uncertainties and assumptions include the need to address the many challenges facing Hewlett Packard Enterprise’s businesses; the competitive pressures faced by Hewlett Packard Enterprise’s businesses; risks associated with executing Hewlett Packard Enterprise’s strategy; the impact of macroeconomic and geopolitical trends and events, including but not limited to supply chain constraints, the use and development of artificial intelligence, the inflationary environment, the ongoing conflicts between Russia and Ukraine and in the Middle East, and the relationship between China and the U.S.; the need to effectively manage third-party suppliers and distribute Hewlett Packard Enterprise’s products and services; the protection of Hewlett Packard Enterprise’s intellectual property assets, including intellectual property licensed from third parties and intellectual property shared with its former parent; risks associated with Hewlett Packard Enterprise’s international operations (including public health crises, such as pandemics or epidemics, and geopolitical events, such as, but not limited to, those mentioned above); the development of and transition to new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends (including the desirability of a unified hybrid cloud offering); the execution of Hewlett Packard Enterprise’s ongoing transformation and mix shift of its portfolio of offerings; the execution and performance of contracts by Hewlett Packard Enterprise and its suppliers, customers, clients, and partners, including any impact thereon resulting from macroeconomic or geopolitical events, such as, but not limited to, those mentioned above; the prospect of a shutdown of the U.S. federal government; the hiring and retention of key employees; the execution, integration, consummation, and other risks associated with business combination, disposition, and investment transactions, including but not limited to the risks associated with the completion of our proposed acquisition of Juniper Networks, Inc. and our ability to integrate and implement our plans, forecasts, and other expectations with respect to the consolidated business; the impact of changes to privacy, cybersecurity, environmental, global trade, and other governmental regulations; changes in our product, lease, intellectual property, or real estate portfolio; the payment or non-payment of a dividend for any period; the efficacy of using non-GAAP, rather than GAAP, financial measures in business projections and planning; the judgments required in connection with determining revenue recognition; impact of company policies and related compliance; utility of segment realignments; allowances for recovery of receivables and warranty obligations; provisions for, and resolution of, pending investigations, claims, and disputes; the impacts of tax law changes and related guidance or regulations; and other risks that are described herein, including but not limited to the risks described in Hewlett Packard Enterprise’s Annual Report on Form 10-K for the fiscal year ended October 31, 2023, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and in other filings made by Hewlett Packard Enterprise from time to time with the Securities and Exchange Commission.
As in prior periods, the financial information set forth in this press release, including tax-related items, reflects estimates based on information available at this time. While Hewlett Packard Enterprise believes these estimates to be reasonable, these amounts could differ materially from reported amounts in the filings made by Hewlett Packard Enterprise from time to time with the Securities and Exchange Commission. Hewlett Packard Enterprise assumes no obligation and does not intend to update these forward-looking statements, except as required by applicable law.
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HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES |
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Condensed Consolidated Statements of Earnings |
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(Unaudited) |
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For the three months ended |
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January 31, 2024 |
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October 31, 2023 |
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January 31, 2023 |
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In millions, except per share amounts |
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Net revenue |
$ |
6,755 |
|
$ |
7,351 |
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$ |
7,809 |
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Costs and Expenses: |
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Cost of sales |
|
4,298 |
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|
4,792 |
|
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5,151 |
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Research and development |
|
582 |
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578 |
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|
623 |
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|||
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Selling, general and administrative |
|
1,216 |
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|
1,332 |
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|
1,257 |
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|||
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Amortization of intangible assets |
|
71 |
|
|
72 |
|
|
73 |
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|||
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Transformation costs |
|
20 |
|
|
56 |
|
|
102 |
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|||
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Disaster (recovery) charges |
|
— |
|
|
(4 |
) |
|
1 |
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Acquisition, disposition and other related charges |
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43 |
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|
18 |
|
|
11 |
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Total costs and expenses |
|
6,230 |
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|
6,844 |
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|
7,218 |
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|||
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Earnings from operations |
|
525 |
|
|
507 |
|
|
591 |
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Interest and other, net(1) |
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(88 |
) |
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(23 |
) |
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(26 |
) |
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Earnings from equity interests |
|
46 |
|
|
65 |
|
|
58 |
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|||
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Earnings before provision for taxes |
|
483 |
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|
549 |
|
|
623 |
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(Provision) benefit for taxes |
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(96 |
) |
|
93 |
|
|
(122 |
) |
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Net earnings |
$ |
387 |
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$ |
642 |
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$ |
501 |
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Net Earnings Per Share: |
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Basic |
$ |
0.30 |
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$ |
0.50 |
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$ |
0.39 |
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Diluted |
$ |
0.29 |
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$ |
0.49 |
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$ |
0.38 |
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Cash dividends declared per share |
$ |
0.13 |
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$ |
0.12 |
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$ |
0.12 |
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Weighted-average Shares Used to Compute Net Earnings Per Share: |
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Basic |
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1,301 |
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1,295 |
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1,298 |
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Diluted |
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1,316 |
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1,315 |
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|
1,315 |
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HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES |
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Reconciliation of GAAP to Non-GAAP measures |
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(Unaudited) |
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For the three months ended |
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January 31, 2024 |
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October 31, 2023 |
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January 31, 2023 |
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Dollars in millions |
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GAAP net revenue |
$ |
6,755 |
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$ |
7,351 |
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$ |
7,809 |
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GAAP cost of sales |
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4,298 |
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4,792 |
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5,151 |
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GAAP gross profit |
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2,457 |
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2,559 |
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|
2,658 |
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Non-GAAP Adjustments |
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Stock-based compensation expense |
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16 |
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9 |
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16 |
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Disaster recovery |
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(25 |
) |
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|
(10 |
) |
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|
— |
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Non-GAAP gross profit |
$ |
2,448 |
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$ |
2,558 |
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$ |
2,674 |
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GAAP gross profit margin |
|
36.4 |
% |
|
|
34.8 |
% |
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|
34.0 |
% |
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Non-GAAP adjustments |
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(0.2 |
)% |
|
|
— |
% |
|
|
0.2 |
% |
|
|
Non-GAAP gross profit margin |
|
36.2 |
% |
|
|
34.8 |
% |
|
|
34.2 |
% |
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For the three months ended |
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|
January 31, 2024 |
|
October 31, 2023 |
|
January 31, 2023 |
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Dollars in millions |
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|
GAAP earnings from operations |
$ |
525 |
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|
$ |
507 |
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$ |
591 |
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|
|
Non-GAAP Adjustments |
|
|
|
|
|
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Amortization of intangible assets |
|
71 |
|
|
|
72 |
|
|
|
73 |
|
|
|
Transformation costs |
|
20 |
|
|
|
56 |
|
|
|
102 |
|
|
|
Disaster (recovery) charges |
|
(25 |
) |
|
|
(14 |
) |
|
|
1 |
|
|
|
Stock-based compensation expense |
|
141 |
|
|
|
71 |
|
|
|
140 |
|
|
|
Acquisition, disposition and other related charges |
|
43 |
|
|
|
18 |
|
|
|
11 |
|
|
|
Non-GAAP earnings from operations |
$ |
775 |
|
|
$ |
710 |
|
|
$ |
918 |
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|
|
|
|
|
|
|
|
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GAAP operating profit margin |
|
7.8 |
% |
|
|
6.9 |
% |
|
|
7.6 |
% |
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|
Non-GAAP adjustments |
|
3.7 |
% |
|
|
2.8 |
% |
|
|
4.2 |
% |
|
|
Non-GAAP operating profit margin |
|
11.5 |
% |
|
|
9.7 |
% |
|
|
11.8 |
% |
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HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES |
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Reconciliation of GAAP to Non-GAAP measures |
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(Unaudited) |
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For the three months ended |
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|
|
January 31, |
|
Diluted net earnings per share |
|
October 31, |
|
Diluted net earnings per share |
|
January 31, |
|
Diluted net earnings per share |
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Dollars in millions, except per share amounts |
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GAAP net earnings |
$ |
387 |
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$ |
0.29 |
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$ |
642 |
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$ |
0.49 |
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$ |
501 |
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$ |
0.38 |
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Non-GAAP Adjustments: |
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|
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Amortization of intangible assets |
|
71 |
|
|
0.05 |
|
|
72 |
|
|
0.05 |
|
|
73 |
|
|
0.06 |
|
||||||
|
Transformation costs |
|
20 |
|
|
0.02 |
|
|
56 |
|
|
0.05 |
|
|
102 |
|
|
0.07 |
|
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Disaster (recovery) charges |
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(25 |
) |
|
(0.02 |
) |
|
(14 |
) |
|
(0.01 |
) |
|
1 |
|
|
— |
|
||||||
|
Stock-based compensation expense |
|
141 |
|
|
0.11 |
|
|
71 |
|
|
0.05 |
|
|
140 |
|
|
0.11 |
|
||||||
|
Acquisition, disposition and other related charges |
|
43 |
|
|
0.03 |
|
|
18 |
|
|
0.01 |
|
|
11 |
|
|
0.01 |
|
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Earnings from equity interests(2) |
|
(46 |
) |
|
(0.03 |
) |
|
2 |
|
|
— |
|
|
12 |
|
|
0.01 |
|
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Loss on equity investments, net |
|
61 |
|
|
0.05 |
|
|
40 |
|
|
0.03 |
|
|
— |
|
|
— |
|
||||||
|
Adjustments for taxes |
|
(16 |
) |
|
(0.02 |
) |
|
(203 |
) |
|
(0.15 |
) |
|
(13 |
) |
|
(0.01 |
) |
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Other adjustments(3) |
|
2 |
|
|
— |
|
|
(4 |
) |
|
— |
|
|
1 |
|
|
— |
|
||||||
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Non-GAAP net earnings |
$ |
638 |
|
$ |
0.48 |
|
$ |
680 |
|
$ |
0.52 |
|
$ |
828 |
|
$ |
0.63 |
|
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|
|
For the three months ended |
|||||||||||
|
|
January 31, 2024 |
|
October 31, 2023 |
|
January 31, 2023 |
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|
In millions |
|||||||||||
|
Net cash provided by (used in) operating activities |
$ |
64 |
|
|
$ |
2,843 |
|
|
$ |
(829 |
) |
|
|
Investment in property, plant and equipment |
|
(656 |
) |
|
|
(675 |
) |
|
|
(794 |
) |
|
|
Proceeds from sale of property, plant and equipment |
|
96 |
|
|
|
255 |
|
|
|
159 |
|
|
|
Effect of exchange rate changes on cash, cash equivalents, and restricted cash |
|
14 |
|
|
|
(102 |
) |
|
|
138 |
|
|
|
Free cash flow |
$ |
(482 |
) |
|
$ |
2,321 |
|
|
$ |
(1,326 |
) |
|
|
HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES |
||||||||
|
Condensed Consolidated Balance Sheets |
||||||||
|
|
|
|
||||||
|
|
|
As of |
||||||
|
|
|
January 31, 2024 |
|
October 31, 2023 |
||||
|
|
|
(Unaudited) |
|
(Audited) |
||||
|
|
|
In millions, except par value |
||||||
|
ASSETS |
|
|
|
|
||||
|
Current Assets: |
|
|
|
|||||
|
Cash and cash equivalents |
$ |
3,758 |
|
|
$ |
4,270 |
|
|
|
Accounts receivable, net of allowances |
|
3,781 |
|
|
|
3,481 |
|
|
|
Financing receivables, net of allowances |
|
3,629 |
|
|
|
3,543 |
|
|
|
Inventory |
|
6,049 |
|
|
|
4,607 |
|
|
|
Other current assets |
|
3,027 |
|
|
|
3,047 |
|
|
|
Total current assets |
|
20,244 |
|
|
|
18,948 |
|
|
|
Property, plant and equipment, net |
|
5,997 |
|
|
|
5,989 |
|
|
|
Long-term financing receivables and other assets |
|
11,542 |
|
|
|
11,377 |
|
|
|
Investments in equity interests |
|
2,249 |
|
|
|
2,197 |
|
|
|
Goodwill and intangible assets |
|
18,570 |
|
|
|
18,642 |
|
|
|
Total assets |
$ |
58,602 |
|
|
$ |
57,153 |
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|||||
|
Current Liabilities: |
|
|
|
|||||
|
Notes payable and short-term borrowings |
$ |
4,957 |
|
|
$ |
4,868 |
|
|
|
Accounts payable |
|
8,125 |
|
|
|
7,136 |
|
|
|
Employee compensation and benefits |
|
1,027 |
|
|
|
1,724 |
|
|
|
Taxes on earnings |
|
182 |
|
|
|
155 |
|
|
|
Deferred revenue |
|
3,718 |
|
|
|
3,658 |
|
|
|
Accrued restructuring |
|
121 |
|
|
|
180 |
|
|
|
Other accrued liabilities |
|
4,505 |
|
|
|
4,161 |
|
|
|
Total current liabilities |
|
22,635 |
|
|
|
21,882 |
|
|
|
Long-term debt |
|
7,840 |
|
|
|
7,487 |
|
|
|
Other non-current liabilities |
|
6,659 |
|
|
|
6,546 |
|
|
|
|
|
|
|
|||||
|
Stockholders’ Equity |
|
|
|
|||||
|
Common stock, $0.01 par value (9,600 shares authorized; 1,300 and 1,283 shares issued and outstanding as of January 31, 2024 and October 31, 2023, respectively) |
|
13 |
|
|
|
13 |
|
|
|
Additional paid-in capital |
|
28,239 |
|
|
|
28,199 |
|
|
|
Accumulated deficit |
|
(3,728 |
) |
|
|
(3,946 |
) |
|
|
Accumulated other comprehensive loss |
|
(3,108 |
) |
|
|
(3,084 |
) |
|
|
Total HPE stockholders’ equity |
|
21,416 |
|
|
|
21,182 |
|
|
|
Non-controlling interests |
|
52 |
|
|
|
56 |
|
|
|
Total stockholders’ equity |
|
21,468 |
|
|
|
21,238 |
|
|
|
Total liabilities and stockholders’ equity |
$ |
58,602 |
|
|
$ |
57,153 |
|
|
Contacts
Media Contact:
Laura Keller
Laura.Keller@hpe.com
Investor Contact:
Jeff Kvaal
investor.relations@hpe.com
