Technology

HPE Q2 Beats Expectations Thanks to Strong SaaS Momentum

HPE reported better-than-expected second quarter results on Tuesday. The company says its pivot to as-a-service is accelerating with orders for consumption-based services up 40% from a year ago. The enterprise software publisher reported second-quarter net profit of $ 482 million, on revenue of $ 6.7 billion, up 11% from the previous year. Analysts were expecting revenue of $ 6.62 billion.

HPE said its server revenue was $ 3 billion, up 12% from the previous year. Storage revenue was $ 1.1 billion, up 5% from the previous year. In this segment, Nimble revenue grew 17% and All Flash Array Storage product revenue grew 20%.

At the same time, High Performance Compute & Mission Critical Systems (HPC & MCS) segment revenue was $ 685 million, up 11% from the previous year.

The company’s edge computing revenue was $ 799 million, up 17% from a year ago, and financial services revenue was $ 839 million, up by 1% compared to the previous year. HPE said its second-quarter annualized revenue was $ 678 million, up 30% from the same quarter a year earlier.

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“Our disciplined execution of our strategic priorities is having a positive impact on the performance of the upper and lower lines,” said Antonio Neri, CEO of HPE. “We are strengthening our core compute and storage businesses, we are doubling the growth of our Intelligent Edge and HPC businesses, and we are accelerating our pivot to as-a-service, while advancing our cloud-first innovation agenda to become the choice of edge-to-cloud as-a-service platform for our customers and partners. ”

Source: “.com”

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