Maharashtra Election Results 2024: Full List Of Mumbai's Winning CandidatesHOUSTON--(BUSINESS WIRE)--Dec 5, 2024-- Hewlett Packard Enterprise (NYSE: HPE) today announced financial results for the fourth quarter ended October 31, 2024. This press release features multimedia. View the full release here: “HPE delivered an exceptional fourth quarter with record quarterly revenue, capping off a strong FY 2024. We exceeded our full-year commitments for revenue, EPS, and free cash flow,” said Antonio Neri, president and CEO of Hewlett Packard Enterprise. “Our differentiated portfolio across hybrid cloud, AI, and networking, which will be further enhanced with the pending Juniper Networks acquisition, positions us well to capitalize on the market opportunity, accelerating value for our shareholders.” “Our exceptional revenue, profitability, and higher-than-expected free cash flow this fiscal year reflect disciplined execution and improving customer demand across our portfolio,” said Marie Myers, executive vice president and CFO of Hewlett Packard Enterprise. “We are pleased to have exceeded our commitments and look forward to the opportunities ahead in fiscal year 2025.” The HPE Board of Directors declared a regular cash dividend of $0.13 per share on the company’s common stock, payable on January 16, 2025, to stockholders of record as of the close of business on December 20, 2024. HPE estimates revenue to grow by mid-teens percent when compared to revenue for the prior-year period. HPE estimates GAAP diluted net EPS to be in the range of $0.31 to $0.36 and non-GAAP diluted net EPS (1) to be in the range of $0.47 to $0.52. Fiscal 2025 first quarter non-GAAP diluted net EPS excludes net after-tax adjustments of $0.16 per diluted share primarily related to stock-based compensation, acquisition, disposition and other related charges and amortization of intangible assets. HPE’s pending acquisition of Juniper Networks, Inc. has received approval from key jurisdictions including the European Union, United Kingdom, India, South Korea, and Australia, among others. HPE and Juniper Networks are cooperatively engaged with the U.S. Department of Justice as the agency continues to review the transaction into the new calendar year. HPE and Juniper expect that the transaction will close in the early part of 2025 — within the previously stated timeframe. 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.” 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 cloud 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. 3 Free cash flow represents cash flow from operations, less net capital expenditures (investments in property, plant & equipment (“PP&E”) and software assets less proceeds from the sale of PP&E), and adjusted for the effect of exchange rate fluctuations on cash, cash equivalents, and restricted cash. 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: . 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”) as performance metric. 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 cloud 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. ARR should be viewed independently of net revenue and deferred revenue and are not intended to be combined with any of these items. 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 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”, "guide", “optimistic”, “intend”, “aim”, “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 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, the impact of tax law changes and related guidance and regulations, net earnings, net earnings per share, cash flows, liquidity and capital resources, inventory, order backlog, share repurchases, currency exchange rates, repayments of debts (including our asset-backed debt securities), or other financial items; recent amendments to accounting guidance and any related potential impacts on our financial reporting; 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-related 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 and our actions to mitigate such impacts to our business; any statements regarding future regulatory trends and the resulting legal and reputational exposure, including but not limited to those relating to environmental, social, and governance, cybersecurity, data privacy, and artificial intelligence issues, among others; any statements regarding pending investigations, claims, or disputes; 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 heightened global trade restrictions, the use and development of artificial intelligence, the inflationary environment (though easing), 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 from public health crises, such as pandemics or epidemics, and geopolitical events, such as those mentioned above); the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; the execution of Hewlett Packard Enterprise's 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 those mentioned above; the prospect of a shutdown of the U.S. federal government; the hiring and retention of key employees; the execution, consummation, integration, and other risks associated with business combination, disposition, and investment transactions, including but not limited to the risks associated with the disposition of H3C shares and the receipt of proceeds therefrom and 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 in Hewlett Packard Enterprise’s Annual Report on Form 10-K for the fiscal year ended October 31, 2023, subsequent 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. Net revenue $ 8,458 $ 7,710 $ 7,351 Costs and Expenses: Cost of sales (exclusive of amortization shown separately below) 5,852 5,271 4,792 Research and development 527 547 578 Selling, general and administrative 1,211 1,229 1,332 Amortization of intangible assets 69 60 72 Transformation costs 26 14 56 Disaster charges (recovery) 2 5 (4 ) Acquisition, disposition and other related charges 78 37 18 Total costs and expenses 7,765 7,163 6,844 Earnings from operations 693 547 507 Interest and other, net (1) 5 (12 ) (23 ) Gain on sale of equity interest 733 — — (Loss) earnings from equity interests (14 ) 73 65 Earnings before provision for taxes 1,417 608 549 (Provision) benefit for taxes (51 ) (96 ) 93 Net earnings attributable to HPE 1,366 512 642 Preferred stock dividends (25 ) — — Net earnings attributable to common stockholders $ 1,341 $ 512 $ 642 Net Earnings Per Share Attributable to Common Stockholders: Basic $ 1.02 $ 0.39 $ 0.50 Diluted 0.99 0.38 0.49 Cash dividends declared per share 0.13 0.13 0.12 Cash dividends accrued per preferred share $ 0.83 $ — $ — Weighted-average Shares Used to Compute Net Earnings Per Share: Basic 1,312 1,312 1,295 Diluted 1,375 1,332 1,315 Net revenue $ 30,127 $ 29,135 Costs and Expenses: Cost of sales (exclusive of amortization shown separately below) 20,249 18,896 Research and development 2,246 2,349 Selling, general and administrative 4,871 5,160 Amortization of intangible assets 267 288 Transformation costs 93 283 Disaster charges 7 1 Acquisition, disposition and other related charges 204 69 Total costs and expenses 27,937 27,046 Earnings from operations 2,190 2,089 Interest and other, net (1) (117 ) (104 ) Gain on sale of equity interest 733 — Earnings from equity interests 147 245 Earnings before provision for taxes 2,953 2,230 Provision for taxes (374 ) (205 ) Net earnings attributable to HPE 2,579 2,025 Preferred stock dividends (25 ) — Net earnings attributable to common stockholders $ 2,554 $ 2,025 Net Earnings Per Share Per Share Attributable to Common Stockholders: Basic $ 1.95 $ 1.56 Diluted 1.93 1.54 Cash dividends declared per share 0.52 0.48 Cash dividends accrued per preferred share $ 0.83 $ — Weighted-average Shares Used to Compute Net Earnings Per Share: Basic 1,309 1,299 Diluted 1,337 1,316 GAAP net revenue $ 8,458 $ 7,710 $ 7,351 GAAP cost of sales 5,852 5,271 4,792 2,606 2,439 2,559 Non-GAAP Adjustments Stock-based compensation expense 10 9 9 Disaster recovery (4 ) (7 ) (10 ) Divestiture related exit costs — 9 — $ 2,612 $ 2,450 $ 2,558 30.8 % 31.6 % 34.8 % Non-GAAP adjustments 0.1 % 0.2 % — % 30.9 % 31.8 % 34.8 % GAAP net revenue $ 30,127 $ 29,135 GAAP cost of sales 20,249 18,896 9,878 10,239 Non-GAAP Adjustments Stock-based compensation expense 49 47 Disaster recovery (43 ) (13 ) Divestiture related exit costs 9 — $ 9,893 $ 10,273 32.8 % 35.1 % Non-GAAP adjustments — % 0.2 % 32.8 % 35.3 % $ 693 $ 547 $ 507 Non-GAAP Adjustments Amortization of intangible assets 69 60 72 Transformation costs 26 14 56 Disaster recovery (17 ) (2 ) (14 ) Stock-based compensation expense 89 80 71 Divestiture related exit costs — 35 — Acquisition, disposition and other related charges 78 37 18 $ 938 $ 771 $ 710 8.2 % 7.1 % 6.9 % Non-GAAP adjustments 2.9 % 2.9 % 2.8 % 11.1 % 10.0 % 9.7 % $ 2,190 $ 2,089 Non-GAAP Adjustments Amortization of intangible assets 267 288 Transformation costs 93 283 Disaster recovery (51 ) (12 ) Stock-based compensation expense 430 428 Divestiture related exit costs 35 — Acquisition, disposition and other related charges 204 69 $ 3,168 $ 3,145 7.3 % 7.2 % Non-GAAP adjustments 3.2 % 3.6 % 10.5 % 10.8 % $ 1,366 $ 0.99 $ 512 $ 0.38 $ 642 $ 0.49 Non-GAAP Adjustments: Amortization of intangible assets 69 0.05 60 0.05 72 0.05 Transformation costs 26 0.02 14 0.01 56 0.05 Disaster recovery (17 ) (0.02 ) (2 ) — (14 ) (0.01 ) Stock-based compensation expense 89 0.06 80 0.06 71 0.05 Divestiture related exit costs — — 35 — — — Acquisition, disposition and other related charges 78 0.06 37 0.03 18 0.01 Gain on sale of equity interest (733 ) (0.53 ) — — — — Adjustments for equity interests 25 0.02 (44 ) (0.04 ) 2 — (Gain) loss on equity investments, net (34 ) (0.02 ) (14 ) (0.01 ) 40 0.03 Adjustments for taxes (89 ) (0.06 ) (21 ) (0.01 ) (203 ) (0.15 ) Other adjustments (2) 15 0.01 4 — (4 ) — 795 0.58 661 0.50 680 0.52 Preferred stock dividends (25 ) — — $ 770 $ 661 $ 680 $ 2,579 $ 1.93 $ 2,025 $ 1.54 Non-GAAP Adjustments: Amortization of intangible assets 267 0.20 288 0.22 Transformation costs 93 0.07 283 0.22 Disaster recovery (51 ) (0.04 ) (12 ) (0.01 ) Stock-based compensation expense 430 0.32 428 0.33 Divestiture related exit costs 35 0.03 — — Acquisition, disposition and other related charges 204 0.16 69 0.05 Gain on sale of equity interest (733 ) (0.55 ) — — Adjustments for equity interests (107 ) (0.08 ) 18 0.01 Loss on equity investments, net 13 0.01 40 0.03 Adjustments for taxes (95 ) (0.07 ) (255 ) (0.20 ) Other adjustments (2) 20 0.01 (52 ) (0.04 ) 2,655 1.99 2,832 2.15 Preferred stock dividends (25 ) — $ 2,630 $ 2,832 $ 2,030 $ 1,154 $ 2,843 Investment in property, plant and equipment and software assets (608 ) (543 ) (675 ) Proceeds from sale of property, plant and equipment 90 62 255 Effect of exchange rate changes on cash, cash equivalents, and restricted cash (12 ) (4 ) (102 ) $ 1,500 $ 669 $ 2,321 $ 4,341 $ 4,428 Investment in property, plant and equipment and software assets (2,367 ) (2,828 ) Proceeds from sale of property, plant and equipment 370 602 Effect of exchange rate changes on cash, cash equivalents, and restricted cash (47 ) 36 $ 2,297 $ 2,238 Current Assets: Cash and cash equivalents $ 14,846 $ 4,270 Accounts receivable, net of allowances 3,550 3,481 Financing receivables, net of allowances 3,870 3,543 Inventory 7,810 4,607 Assets held for sale 1 — Other current assets 3,380 3,047 Total current assets 33,457 18,948 Property, plant and equipment, net 5,664 5,989 Long-term financing receivables and other assets 12,616 11,377 Investments in equity interests 929 2,197 Goodwill and intangible assets 18,596 18,642 Total assets $ 71,262 $ 57,153 Current Liabilities: Notes payable and short-term borrowings $ 4,742 $ 4,868 Accounts payable 11,064 7,136 Employee compensation and benefits 1,356 1,724 Taxes on earnings 284 155 Deferred revenue 3,904 3,658 Accrued restructuring 61 180 Liabilities held for sale 32 — Other accrued liabilities 4,530 4,161 Total current liabilities 25,973 21,882 Long-term debt 13,504 7,487 Other non-current liabilities 6,905 6,546 Commitments and Contingencies Stockholders’ Equity HPE stockholders' Equity: 7.625% Series C mandatory convertible preferred stock, $0.01 par value (30 shares issued and outstanding as of October 31, 2024) — — Common stock, $0.01 par value (9,600 shares authorized; 1,297 and 1,283 shares issued and outstanding as of October 31, 2024 and October 31, 2023, respectively) 13 13 Additional paid-in capital 29,848 28,199 Accumulated deficit (2,068 ) (3,946 ) Accumulated other comprehensive loss (2,977 ) (3,084 ) Total HPE stockholders’ equity 24,816 21,182 Non-controlling interests 64 56 Total stockholders’ equity 24,880 21,238 Total liabilities and stockholders’ equity $ 71,262 $ 57,153 Cash Flows from Operating Activities: Net earnings attributable to HPE $ 2,579 $ 2,025 Adjustments to Reconcile Net Earnings Attributable to HPE to Net Cash Provided by Operating Activities: Depreciation and amortization 2,564 2,616 Stock-based compensation expense 430 428 Provision for inventory and credit losses 175 230 Restructuring charges 33 242 Deferred taxes on earnings (64 ) (67 ) Earnings from equity interests (147 ) (245 ) Gain on sale of equity interest (733 ) — Dividends received from equity investees 43 200 Other, net 149 31 Changes in Operating Assets and Liabilities, Net of Acquisitions: Accounts receivable (83 ) 577 Financing receivables (909 ) (607 ) Inventory (3,358 ) 400 Accounts payable 3,927 (1,655 ) Taxes on earnings 190 (34 ) Restructuring (164 ) (275 ) Other assets and liabilities (291 ) 562 Net cash provided by operating activities 4,341 4,428 Cash Flows from Investing Activities: Investment in property, plant and equipment and software assets (2,367 ) (2,828 ) Proceeds from sale of property, plant and equipment 370 602 Purchases of investments (16 ) (15 ) Proceeds from maturities and sales of investments 2,149 9 Financial collateral posted (1,020 ) (1,443 ) Financial collateral received 978 1,152 Payments made in connection with business acquisitions, net of cash acquired (147 ) (761 ) Net cash used in investing activities (53 ) (3,284 ) Cash Flows from Financing Activities: Short-term borrowings with original maturities less than 90 days, net (31 ) (47 ) Proceeds from debt, net of issuance costs 11,245 4,725 Payment of debt (5,475 ) (4,887 ) Cash settlement for derivative hedging debt — (7 ) Net payments related to stock-based award activities (84 ) (106 ) Proceeds from issuance of 7.625% Series C mandatory convertible preferred stock, net of issuance costs 1,462 — Repurchase of common stock (150 ) (421 ) Cash dividends paid to non-controlling interests, net of contributions (8 ) — Cash dividends paid to shareholders (676 ) (619 ) Net cash provided by (used in) financing activities 6,283 (1,362 ) Effect of exchange rate changes on cash, cash equivalents, and restricted cash (47 ) 36 Change in cash, cash equivalents and restricted cash 10,524 (182 ) Cash, cash equivalents and restricted cash at beginning of period 4,581 4,763 Cash, cash equivalents and restricted cash at end of period $ 15,105 $ 4,581 Net Revenue: Server (4) $ 4,706 $ 4,280 $ 3,574 Hybrid Cloud (4) 1,582 1,300 1,341 Intelligent Edge (4) 1,124 1,121 1,410 Financial Services 893 879 876 Corporate Investments and other (4) 262 262 263 Total segment net revenue 8,567 7,842 7,464 Elimination of intersegment net revenue (109 ) (132 ) (113 ) Total consolidated net revenue $ 8,458 $ 7,710 $ 7,351 Earnings Before Taxes (4): Server $ 545 $ 464 $ 360 Hybrid Cloud 122 66 51 Intelligent Edge 274 251 382 Financial Services 82 79 70 Corporate Investments and other (2 ) (4 ) (16 ) Total segment earnings from operations 1,021 856 847 Unallocated corporate costs and eliminations (83 ) (85 ) (137 ) Stock-based compensation expense (89 ) (80 ) (71 ) Amortization of intangible assets (69 ) (60 ) (72 ) Transformation costs (26 ) (14 ) (56 ) Disaster recovery 17 2 14 Divestiture related exit costs — (35 ) — Acquisition, disposition and other related charges (78 ) (37 ) (18 ) Interest and other, net (1) 5 (12 ) (23 ) Gain on sale of equity interest 733 — — (Loss) earnings from equity interests (14 ) 73 65 Total pretax earnings $ 1,417 $ 608 $ 549 Net Revenue: Server (4) $ 16,205 $ 14,361 Hybrid Cloud (4) 5,386 5,493 Intelligent Edge (4) 4,532 5,379 Financial Services 3,512 3,480 Corporate Investments and other (4) 1,014 985 Total segment net revenue 30,649 29,698 Elimination of intersegment net revenue (522 ) (563 ) Total consolidated net revenue $ 30,127 $ 29,135 Earnings Before Taxes (4): Server $ 1,818 $ 1,830 Hybrid Cloud 245 232 Intelligent Edge 1,115 1,343 Financial Services 316 281 Corporate Investments and other (25 ) (77 ) Total segment earnings from operations 3,469 3,609 Unallocated corporate costs and eliminations (301 ) (464 ) Stock-based compensation expense (430 ) (428 ) Amortization of intangible assets (267 ) (288 ) Transformation costs (93 ) (283 ) Disaster recovery 51 12 Divestiture related exit costs (35 ) — Acquisition, disposition and other related charges (204 ) (69 ) Interest and other, net (1) (117 ) (104 ) Gain on sale of equity interest 733 — Earnings from equity interests 147 245 Total consolidated earnings before taxes $ 2,953 $ 2,230 Net Revenue: Server (4) $ 4,706 $ 4,280 $ 3,574 10% 32% Hybrid Cloud (4) 1,582 1,300 1,341 22 18 Intelligent Edge (4) 1,124 1,121 1,410 — (20) Financial Services 893 879 876 2 2 Corporate Investments and other (4) 262 262 263 — — Total segment net revenue 8,567 7,842 7,464 9 15 Elimination of intersegment net revenue (109 ) (132 ) (113 ) (17) (4) Total consolidated net revenue $ 8,458 $ 7,710 $ 7,351 10% 15% Net Revenue: Server (4) $ 16,205 $ 14,361 13% Hybrid Cloud (4) 5,386 5,493 (2) Intelligent Edge (4) 4,532 5,379 (16) Financial Services 3,512 3,480 1 Corporate Investments and other (4) 1,014 985 3 Total segment net revenue 30,649 29,698 3 Elimination of intersegment net revenue (522 ) (563 ) (7) Total consolidated net revenue $ 30,127 $ 29,135 3% Segment Operating Profit Margin (4): Server 11.6 % 10.8 % 10.1 % 0.8 1.5 Hybrid Cloud 7.7 % 5.1 % 3.8 % 2.6 3.9 Intelligent Edge 24.4 % 22.4 % 27.1 % 2.0 (2.7) Financial Services 9.2 % 9.0 % 8.0 % 0.2 1.2 Corporate Investments and other (0.8 %) (1.5 %) (6.1 %) 0.7 5.3 Total segment operating profit margin 11.9 % 10.9 % 11.3 % 1.0 0.6 Segment Operating Profit Margin (4): Server 11.2 % 12.7 % (1.5) Hybrid Cloud 4.5 % 4.2 % 0.3 Intelligent Edge 24.6 % 25.0 % (0.4) Financial Services 9.0 % 8.1 % 0.9 Corporate Investments and other (2.5 %) (7.8 %) 5.3 Total segment operating profit margin 11.3 % 12.2 % (0.9) Numerator: GAAP net earnings attributable to common stockholders - Basic $ 1,341 $ 512 $ 642 Plus: 7.625% Series C mandatory convertible preferred stock dividends 25 — — GAAP net earnings attributable to HPE - Diluted $ 1,366 $ 512 $ 642 Non-GAAP net earnings attributable to common stockholders - Basic $ 770 $ 661 $ 680 Plus: 7.625% Series C mandatory convertible preferred stock dividends 25 — — Non-GAAP net earnings attributable to HPE - Diluted $ 795 $ 661 $ 680 Denominator: Weighted-average shares used to compute basic net earnings per share 1,312 1,312 1,295 Dilutive effect of employee stock plans 22 20 20 Dilutive effect of 7.625% Series C mandatory convertible preferred stock 41 — — Weighted-average shares used to compute diluted net earnings per share 1,375 1,332 1,315 GAAP Net Earnings Per Share Basic $ 1.02 $ 0.39 $ 0.50 Diluted (3) $ 0.99 $ 0.38 $ 0.49 Non-GAAP Net Earnings Per Share Basic $ 0.59 $ 0.50 $ 0.53 Diluted (3) $ 0.58 $ 0.50 $ 0.52 Numerator: GAAP net earnings attributable to common stockholders - Basic $ 2,554 $ 2,025 Plus: 7.625% Series C mandatory convertible preferred stock dividends 25 — GAAP net earnings attributable to HPE - Diluted $ 2,579 $ 2,025 Non-GAAP net earnings attributable to common stockholders - Basic $ 2,630 $ 2,832 Plus: 7.625% Series C mandatory convertible preferred stock dividends 25 — Non-GAAP net earnings attributable to HPE - Diluted $ 2,655 $ 2,832 Denominator: Weighted-average shares used to compute basic net earnings per share 1,309 1,299 Dilutive effect of employee stock plans 18 17 Dilutive effect of 7.625% Series C mandatory convertible preferred stock 10 — Weighted-average shares used to compute diluted net earnings per share 1,337 1,316 GAAP Net Earnings Per Share Basic $ 1.95 $ 1.56 Diluted (3) $ 1.93 $ 1.54 Non-GAAP Net Earnings Per Share Basic $ 2.01 $ 2.18 Diluted (3) $ 1.99 $ 2.15 (1) Interest and other, net includes tax indemnification and other adjustments, cost, and interest and other, net. (2) Other adjustments includes non-service net periodic benefit cost and tax indemnification and other adjustments. (3) For purposes of calculating diluted net EPS, the preferred stock dividends are added back to the net earnings attributable to common stockholders and the diluted weighted average share calculation assumes the preferred stock was converted at issuance or as of the beginning of the reporting period. (4) As previously disclosed, effective as of the beginning of fiscal 2024, in order to align the segment financial reporting more closely with its business structure, the Company established two new reportable segments, Hybrid Cloud and Server. Hybrid Cloud includes the historical Storage segment, HPE GreenLake Flex Solutions (which provides flexible as-a-service IT infrastructure through the HPE GreenLake cloud and was previously reported under the Compute and the High Performance Computing & Artificial Intelligence ("HPC & AI") segments), Private Cloud, and Software (previously reported under the Corporate Investments and Other segment). The Server segment combines the previously separately reported Compute and HPC & AI segments, with adjustments for certain product lines that are now reported in Hybrid Cloud. Additionally, certain products and services previously reported in the financial results for the HPC & AI segment were moved to be reported in the Hybrid Cloud segment, and the Athonet business and certain components of the Communications and Media Solutions business, both previously reported in the financial results for Corporate Investments and Other, moved to be reported in the Intelligent Edge segment. As a result, the Company’s organizational structure for fiscal 2024 consisted of the following segments: (i) Server; (ii) Hybrid Cloud; (iii) Intelligent Edge; (iv) Financial Services; and (v) Corporate Investments and Other. The Company began reporting under this re-aligned segment structure beginning with the results of the first quarter of fiscal 2024. The Company has reflected these changes to its segment information retrospectively to the earliest period presented, which primarily resulted in the realignment of net revenue and operating profit for each of the segments as described above. These changes had no impact on Hewlett Packard Enterprise’s previously reported consolidated net revenue, net earnings, net earnings per share or total assets. To supplement Hewlett Packard Enterprise’s condensed consolidated financial statement information presented on a GAAP basis, Hewlett Packard Enterprise provides non-GAAP 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 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. These non-GAAP financial measures are not computed in accordance with, or as an alternative to, GAAP in the United States. The GAAP measure most directly comparable to net revenue on a constant currency basis is net revenue. The GAAP measure most directly comparable to non-GAAP gross profit is gross profit. The GAAP measure most directly comparable to non-GAAP gross profit margin is gross profit margin. The GAAP measure most directly comparable to non-GAAP operating profit (non-GAAP earnings from operations) is earnings from operations. The GAAP measure most directly comparable to non-GAAP operating profit margin (non-GAAP earnings from operations as a percentage of net revenue) is operating profit margin (earnings from operations as a percentage of net revenue). The GAAP measure most directly comparable to non-GAAP income tax rate is income tax rate. The GAAP measure most directly comparable to non-GAAP net earnings is net earnings. The GAAP measure most directly comparable to non-GAAP diluted net earnings per share is diluted net earnings per share. The GAAP measure most directly comparable to FCF is cash flow from operations. 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 above or elsewhere in the materials accompanying this news release. Hewlett Packard Enterprise believes that providing the non-GAAP financial measures stated above, in addition to the related GAAP measures provides investors with greater transparency to the information used by Hewlett Packard Enterprise’s management in its financial and operational decision making and allows investors to see Hewlett Packard Enterprise’s results “through the eyes” of management. Hewlett Packard Enterprise further believes that providing this information provides Hewlett Packard Enterprise’s investors with a supplemental view to understand the Company’s historical and prospective operating performance and to evaluate the efficacy of the methodology and information used by Hewlett Packard Enterprise’s management to evaluate and measure such performance. Disclosure of these non-GAAP financial measures also facilitates the comparisons of Hewlett Packard Enterprise’s operating performance with the performance of other companies in the same industry that supplement their GAAP results with non-GAAP financial measures that may be calculated in a similar manner. Net revenue on a constant currency basis assumes no change to the foreign exchange rate utilized in the comparable prior-year period. This measure assists investors with evaluating the Company’s past and future performance, without the impact of foreign exchange rates, as more than half of our revenue is generated outside of the U.S. Non-GAAP gross profit and non-GAAP gross profit margin are defined to exclude charges related to the stock-based compensation expense, disaster recovery, and divestiture related exit costs. Non-GAAP operating profit (non-GAAP earnings from operations) and non-GAAP operating profit margin (non-GAAP earnings from operations as a percentage of net revenue) consist of earnings from operations or earnings from operations as a percentage of net revenue excluding the items mentioned above and charges relating to the amortization of intangible assets, transformation costs, and acquisition, disposition and other related charges. Non-GAAP net earnings and non-GAAP diluted net earnings per share consist of net earnings or diluted net earnings per share excluding the charges previously stated, as well as adjustments for equity interests, gain or loss on equity investments, other adjustments, and adjustments for taxes. The Adjustments for taxes line item includes certain income tax valuation allowances and separation taxes, the impact of tax reform, structural rate adjustment, excess tax benefit from stock-based compensation, and adjustments for additional taxes or tax benefits associated with each non-GAAP item. Hewlett Packard Enterprise believes that excluding the items mentioned above from the non-GAAP financial measures provides a supplemental view to management and investors of its consolidated financial performance and presents the financial results of the business without costs that Hewlett Packard Enterprise’s management does not believe to be reflective of ongoing operating results. Exclusion of these items can have a material impact on the equivalent GAAP measure and cash flows thus limiting their use as analytical tools. These limitations are discussed below or elsewhere in the materials accompanying this news release. More specifically, Hewlett Packard Enterprise’s management excludes each of those items mentioned above for the following reasons: These non-GAAP financial measures have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of Hewlett Packard Enterprise’s results as reported under GAAP. Some of the limitations in relying on these non-GAAP financial measures are that they can have a material impact on the equivalent GAAP earnings measures and cash flows, they may be calculated differently by other companies (limiting the usefulness of those measures for comparative purposes) and may not reflect the full economic effect of the loss in value of certain assets. Hewlett Packard Enterprise compensates for these limitations on the use of non-GAAP financial measures by relying primarily on its GAAP results and using non-GAAP financial measures only as a supplement. Hewlett Packard Enterprise also provides a reconciliation of each non-GAAP financial measure to its most directly comparable GAAP financial measure for this quarter and prior periods within this news release and in other written materials that include these non-GAAP financial measures, and Hewlett Packard Enterprise encourages investors to review those reconciliations carefully. View source version on : CONTACT: Media Contact: Laura Keller Contact: Paul Glaser KEYWORD: UNITED STATES NORTH AMERICA TEXAS INDUSTRY KEYWORD: DATA MANAGEMENT TECHNOLOGY SOFTWARE ARTIFICIAL INTELLIGENCE INTERNET HARDWARE SOURCE: Hewlett Packard Enterprise Copyright Business Wire 2024. PUB: 12/05/2024 04:05 PM/DISC: 12/05/2024 04:05 PM
As the end of the year approaches, major e-commerce platforms have wasted no time in announcing their exciting plans for the upcoming "Double 12" shopping extravaganza. With enticing discounts, exclusive deals, and innovative marketing campaigns, it is evident that the end-of-year market is brimming with significant consumption potential that cannot be ignored.Hyderabad police commissioner visits residential girls school in NarayangudaProsecutors: Boston City Councilor Hired Family Members, Made Thousands on Illegal Kickback Scheme
When they approached Lucy with their decision to sell the house, she was understandably shocked and refused to comply. Lucy argued that the property now belonged to her and that she had the legal right to retain ownership. Mr. and Mrs. Zhang, feeling betrayed and desperate, sought legal advice to challenge the transfer of ownership and reclaim the property. The ensuing legal battle has become increasingly acrimonious, with both parties unwilling to back down.
In conclusion, the story of the lost female master's student in the village serves as a poignant reminder of the complexities of human nature and the power of community in times of uncertainty. It challenges us to look beyond the surface, to question our assumptions, and to embrace the pursuit of truth with courage and compassion. As the villagers continue their quest for answers, the truth, whatever it may be, will ultimately lead them on a path towards greater understanding, empathy, and unity.One way to facilitate the adaptation process is through mentorship and support programs. Experienced players, coaches, or staff members can be assigned to provide guidance and support to young players, helping them with language skills, cultural integration, and any personal or professional challenges they may face. By having a support system in place, young players can feel more confident and secure in their new environment, enabling them to focus on their footballing development and maximize their potential.As the debate over account sharing continues, it is clear that streaming services are faced with the challenge of balancing security concerns with user convenience and affordability. While cracking down on account sharing may help streaming platforms retain more paying subscribers and support the creation of more original content, it also risks alienating users who have come to rely on shared accounts as a way to enjoy entertainment together.
The case of the missing female master's student had initially sent shockwaves through the community, as friends, family, and authorities launched a search and rescue operation to locate her. The young woman, a promising scholar with a bright future ahead of her, had vanished without a trace, leaving loved ones and the public in a state of worry and uncertainty.
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