HPE: Fiscal 2Q23 Financial Results

(in $ million)	2Q22	2Q23	6 mo. 22	6 mo. 23
Revenue	1,072	1,043	2,200	2,230
*Growth*		-3%		1%
Earnings before taxes	127	82	284	224

Hewlett Packard Enterprise Company announced financial results for the second quarter ended April 30, 2023.

Global revenue reaches $7.0 billion, up 4% from the prior-year period and 9% in constant currency.

Hpe Fiscal 2q23 Financial Results F1

In 2FQ23, storage revenue was $1.0 billion or 15% of total revenue, down 3% from 1FQ23 in actual dollars and up 2% in constant currency, with 7.9% operating profit margin, compared to 11.8% from 2FQ22.

Pivotal IP-owned products continue to get traction in the market, shown by the ramp of HPE Alletra offerings. Alletra revenue increased more than 100% Y/Y and grew triple digits from 1FQ23 for the 4th consecutive quarter, lifting total AFA growth to 20% Y/Y. Alletra is driving a long-term mix shift to higher-margin, software-intensive as-a-service revenue. The company will continue to invest in R&D for its own IP products in this business unit such as its new file-as-a-service and Alletra MP offerings

In April, the company announced new storage services HPE GreenLake for block storage and GreenLake for file storage. The new services leverage Alletra storage simplified data lifecycle management with an intuitive cloud operations to store manage and protect customer’s data wherever it resides.

Revenue for HPE storage since FY17
(in $ million)

Fiscal quarter	Revenue	Q/Q growth	Y/Y growth
FY17	3,280		3%
FY18	3,706		*13%*
FY19	3,609		-3%
FY20	4,681		-10%
1FQ21	1,193	-2%
2FQ21	1,137	-5%
3FQ21	1,176	4%
4FQ21	1,257	3%
FY21	4,763		2%
1FQ22	1,156	-8%
2FQ22	1,098	-3%
3FQ22	1,152	5%
4FQ22	1,305	4%
FY22	4,711		*-1%*
1FQ23	1,187	5%
2FQ23	1,043	-11%

Earnings call transcript