Hewlett Packard Enterprise lifts annual guidance after Q1 results beat estimates

By Yasin Ebrahim

Investing.com — Hewlett Packard Enterprise raised its annual outlook Thursday after reporting fiscal first-quarter revenue that topped analysts estimates.

Hewlett Packard Enterprise Co (NYSE:) was up more than 5% in afterhours trading.

The company reported in-line Q1  of 63 cents, on revenue on $7.80 billion, topping estimates of 54 cents and $7.44B, respectively.

Intelligent Edge unit saw revenue rise 25% to $1.1B.

“Powered by our market-leading hybrid cloud platform HPE GreenLake, we unlocked an impressive run rate of $1 billion in annualized revenue for the first time,” the company said.

For Q2, the company guided EPS in the range of $0.44 to $0.52 on revenue of $7.1B to $7.5B, compared with estimates for $0.47 and $7.04B, respectively.

Looking further ahead, the company raised its 2023 guidance on EPS to $2.02 to $2.10 from $1.96 to $2.04 previously.