Hewlett Packard Enterprise has announced financial results for its fiscal 2017 and the fourth quarter, ended October 31, 2017.

 Fourth Quarter Fiscal Year 2017 Results 

 Combined net revenue of USD 7.8 billion includes USD 7.7 billion from continuing operations and USD 174 million from Software, which is now included in discontinued operations.

Fourth quarter net revenue from continuing operations of USD 7.7 billion was up 5percent from the prior year and up 5percent when adjusted for divestitures and currency.

Fourth quarter GAAP diluted net EPS from continuing operations was USD 0.23, up from GAAP diluted net EPS from continuing operations of USD 0.19 in the prior year.

Fourth quarter non-GAAP diluted net EPS from continuing operations was USD 0.29, up from non-GAAP diluted net EPS from continuing operations of USD 0.23 in the prior-year period. Fourth quarter non-GAAP net earnings from continuing operations and non-GAAP diluted net EPS from continuing operations exclude after-tax costs of USD 95 million and USD 0.06 per diluted share, respectively, related to transformation costs, separation costs, restructuring costs, disaster charges, amortization of intangible assets, acquisition and other related charges, defined benefit plan settlement charges and remeasurement benefit, an adjustment to earnings from equity interests, tax indemnification adjustments and valuation allowances and separation taxes.

 Fiscal Year 2017 Results 

 Combined net revenue of USD 37.4 billion includes USD 28.9 billion from continuing operations and USD 8.5 billion from Enterprise Services and Software, which is now included in discontinued operations.

Fiscal 2017 net revenue from continuing operations of USD 28.9 billion was down 5percent from the prior year and up 1percent when adjusted for divestitures and currency.

Fiscal 2017 GAAP diluted net EPS from continuing operations was USD 0.26, down from GAAP diluted net EPS from continuing operations of USD 1.86 in the prior year.

Fiscal 2017 non-GAAP diluted net EPS from continuing operations was USD 0.96, down from non-GAAP diluted net EPS from continuing operations of USD 1.09 in the prior year. Fiscal 2017 non-GAAP net earnings from continuing operations and non-GAAP diluted net EPS from continuing operations exclude after-tax costs of USD 1.2 billion and USD 0.70 per diluted share, respectively, related to restructuring costs, transformation costs, amortization of intangible assets, acquisition and other related charges, separation costs, disaster charges, defined benefit plan settlement charges and remeasurement benefit, an adjustment to earnings from equity interests, tax indemnification adjustments and valuation allowances and separation taxes.

“With strong top line revenue growth, earnings above our previous outlook and our second consecutive quarter of sequential margin improvement, our fourth quarter results are a reflection of the progress we have made over the past two years to transform HPE into a nimble, focused and innovative organization,” said Meg Whitman, CEO of HPE.  “Today, HPE has a very strong balance sheet, an industry-leading product portfolio and a world-class leadership team ready to drive the next phase of shareholder value.”

 Outlook

 For the fiscal 2018 first quarter, Hewlett Packard Enterprise estimates GAAP diluted net EPS to be in the range of USD 0.01 to USD 0.05 and non-GAAP diluted net EPS to be in the range of USD 0.20 to USD 0.24. Fiscal 2018 first quarter non-GAAP diluted net EPS from continuing operations estimates exclude after-tax costs of approximately USD 0.19 per diluted share, related primarily to transformation costs, separation costs, and the amortization of intangible assets.

 

Fiscal 2017 fourth quarter segment results

 

Enterprise Group revenue was USD 6.9 billion, flat year over year, up 1percent when adjusted for currency, with a 10.6percent operating margin. Servers revenue was down 5percent, down 5percent when adjusted for currency, Storage revenue was up 5percent, up 5percent when adjusted for currency, Networking revenue was up 21percent, up 21percent when adjusted for currency, and Technology Services revenue was up 2percent, up 3percent when adjusted for currency.  

Financial Services revenue was USD 1.0 billion, up 24percent year over year, net portfolio assets were up 1percent, and financing volume was flat year over year. The business delivered an operating margin of 7.7percent.

 Revenue from continuing operations adjusted for divestitures and currency excludes revenue resulting from businesses divestitures in fiscal 2017 and 2016 and also assumes no change in the foreign exchange rate from the prior-year period. A reconciliation of GAAP revenue to revenue adjusted for divestitures and currency is provided in the earnings presentation at investors.hpe.com. – Communications Today


 

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