HP Enterprise reports Q2 EPS 38c, consensus 33c

Reports Q2 revenue $7.63B, consensus $7.50B. Server revenue was $4.1 billion, up 6% from the prior-year period in actual dollars and up 7% in constant currency(1), with 5.9% operating profit margin, compared to 11.0% from the prior-year period. Intelligent Edge revenue was $1.2 billion, up 7% from the prior-year period in actual dollars and 8% in constant currency(1), with 23.6% operating profit margin, compared to 21.8% from the prior-year period. Hybrid Cloud revenue was $1.5 billion, up 13% from the prior-year period in actual dollars and 15% in constant currency(1), with 5.4% operating profit margin, compared to 1.0% from the prior-year period. “We delivered a solid performance, achieving yet another quarter of year-over-year revenue growth with strength in each of our product segments,” said Antonio Neri, president and CEO of Hewlett Packard Enterprise. “In a very dynamic macro environment, we executed our strategy with discipline. We remain focused on bringing breakthrough innovation to our customers while increasing profitability and enhancing shareholder value.”