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Hewlett Packard Enterprise Reports Strong AI Systems Revenue

publication date: Jun 5, 2024
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Image: Hewlett Packard Enterprise is breaking out nicely. 

We liked the AI-related news from Hewlett Packard Enterprise, and shares were up nicely following the report. Hewlett Packard Enterprise’s cash flow performance was also solid, with free cash flow increasing $322 million, to $610 million, for the three months ended April 30, 2024. HPE’s revenue growth for fiscal 2024 is now expected to expand 1%-3% in constant currency (was 0%-2%) and non-GAAP diluted earnings per share in the range of $1.85-$1.95 per share, the midpoint above the $1.88 per share the Street had been expecting at the time.

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