"HPE exceeded our profitability expectations and drove near-record year-over-year growth in our recurring revenue in the face of market headwinds, demonstrating the relevance of our strategy,” said Antonio Neri, president and CEO of Hewlett Packard Enterprise.
That's a pretty impressive spin for a quarter that is actually a 14% decline year-over-year in revenue. You've got to give him that.
In my business segment, nobody is doing the work. That is, until the customer finds out and starts screaming. Only then does anything get done.
I can’t say anything positive about the CEO’s performance. He did manage to layoff and chase off some high performing employees. It makes me wonder? Who’s doing the work now?
14% decline in revenues year over year? Wow I guess that means there will be layoffs. Of course there were going to be layoffs anyway. Who are we kidding?
Eh, didn't HPE just chase Autonomy through the courts for the last number of years for how they allegedly reported their numbers? Sounds like HPE might be hiding stuff themselves.
Timothy Prickett Morgan at Nextplatform has an excellent take on the results. I particularly like him calling out HPE for burying their HPC numbers in other categories to hide the low/no margin in those big deals.
https://www.nextplatform.com/2024/06/05/hpe-is-also-having-trouble-making-money-with-ai-servers/
Exceeding profitability expectations is easier when you've got low expections.
Margins were 33.1% lower, so profit got hit too.
Sorry but what headwinds? HPE has a golden opportunity with this crazed AI market share. I don't think Antonio will ever publicly admit that AWS, Meta, and Google are going to be the ones who will dominate this industry.
Profit or revenue don't matter, the WFRs will continue regardless.
Profit is what matters not revenue
They are readying the WFR's for the end of June. Shouldn't really be a surprise to anyone.