The company said its total net revenue for the 3 months ended July 31, 2024 was $7.7 billion, an increase of $708 million or 10.1% (up 10.4% on a constant currency basis). Net revenue for the 9 months ended the same date was $21.7 billion, a decrease of 0.5%.

10-QQuarterly reportFiled Sep 5, 2024Period of report Jul 31, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said its total net revenue for the 3 months ended July 31, 2024 was $7.7 billion, an increase of $708 million or 10.1% (up 10.4% on a constant currency basis). Net revenue for the 9 months ended the same date was $21.7 billion, a decrease of 0.5%.
HPE said Server net revenue rose $1,112 million, or 35.1%, over the 3 months, while Intelligent Edge fell $335 million, or 23.0%. Hybrid Cloud declined $97 million, or 6.9%. The company cited higher AUPs as the reason for the Server increase.
The company said gross profit margin was 31.6% for the 3 months and 33.6% for the 9 months, down 4.2 and 1.7 percentage points, respectively, from the prior-year periods. For the 3 months, it attributed the decline to lower revenue in the Intelligent Edge and Hybrid Cloud segments.
HPE said acquisition, disposition and other related charges rose $16 million (76.2%) for the 3 months and $75 million (147.1%) for the 9 months. It attributed the increase mainly to costs related to the pending acquisition of Juniper Networks.

Key figures

Quarter ended July 31, 2024

Revenue: $7.7B
Operating income: $547M
Net income: $512M
EPS: $0.38

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Quarterly net revenue $7.7 billion

The company said its total net revenue for the 3 months ended July 31, 2024 was $7.7 billion, an increase of $708 million or 10.1% (up 10.4% on a constant currency basis). Net revenue for the 9 months ended the same date was $21.7 billion, a decrease of 0.5%.

Source · Based on the MD&A text of the filing

Segment Quarterly Revenue Changes

HPE said Server net revenue rose $1,112 million, or 35.1%, over the 3 months, while Intelligent Edge fell $335 million, or 23.0%. Hybrid Cloud declined $97 million, or 6.9%. The company cited higher AUPs as the reason for the Server increase.

Source · Based on the MD&A text of the filing

Gross Margin Decline

The company said gross profit margin was 31.6% for the 3 months and 33.6% for the 9 months, down 4.2 and 1.7 percentage points, respectively, from the prior-year periods. For the 3 months, it attributed the decline to lower revenue in the Intelligent Edge and Hybrid Cloud segments.

Source · Based on the MD&A text of the filing

Costs Related to Juniper Networks Merger

HPE said acquisition, disposition and other related charges rose $16 million (76.2%) for the 3 months and $75 million (147.1%) for the 9 months. It attributed the increase mainly to costs related to the pending acquisition of Juniper Networks.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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