HPE s stock is tumbling after a steep decline in revenue marketwatch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketwatch.com Daily Mail and Mail on Sunday newspapers.
By Sabela Ojea Hewlett Packard Enterprise said it had mixed results in its fiscal first quarter after seeing revenue drop due to its server and hybrid cloud.
Hewlett Packard Enterprise sees downbeat Q2 revenue on weak networking solutions demand streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Enterprises are hesitant to sign new contracts, commit to long-term initiatives or take on new technology partners, although IT spend is expected to increase in 2024, according to research firm Gartner. HPE expects revenue in the second quarter in the range of $6.6 billion to $7 billion, below analysts' average estimate of $7.11 billion, according to LSEG data. CFO Marie Myers said that the "softening of the networking market and GPU deal timing" impacted the company in the first quarter.