HPE Jumps After Reporting Strong Sales on AI Server Demand
What was the percentage increase in Hewlett Packard Enterprise Co.'s fiscal second-quarter revenue compared to the same period last year?
Hewlett Packard Enterprise Co.'s fiscal second-quarter revenue increased by 3.3% compared to the same period last year.
How did HPE's fiscal second-quarter revenue compare to Wall Street's projections?
HPE's fiscal second-quarter revenue exceeded Wall Street's projections. The company reported revenue of $7.2 billion, which marked a 3.3% increase year over year. Analysts had expected a 2% decline year over year to $6.82 billion. The strong performance was driven by increased demand and better availability of high-powered semiconductors for AI systems, as well as the company's server business.
By how much did sales of HPE's AI-oriented systems increase from the first quarter?
Sales of HPE's AI-oriented systems doubled from the first quarter to more than $900 million. This increase was driven by the company's server business, which generated revenue of $3.87 billion, surpassing analysts' estimates of $3.45 billion. The strong performance was attributed to increased demand and better availability of high-powered semiconductors from Nvidia Corp.