Press Release: March 03, 2016

HPE Reports Fiscal 2016 First Quarter Results

  • Delivers third consecutive quarter of year over year revenue growth in constant currency
  • Increases commitment to return at least 100% of FY16 free cash flow outlook to shareholders
  • First quarter net revenue of $12.7 billion, up 4% from the prior-year period on a constant currency basis and down 3% as reported
  • First quarter non-GAP diluted net earnings per share of $0.41, at the top end of the previously provided outlook of $0.37 to $0.41 per share
  • First quarter GAAP diluted net earnings per share of $0.15, above the previously provided outlook of $0.09 to $0.13 per share
  • $13 billion to shareholders in the form of share repurchases and dividends
  • Maintains FY16 free cash flow guidance of $2.0 to $2.2 billion

PALO ALTO, Calif., March 3, 2016 – Hewlett Packard Enterprise (NYSE: HPE) today announced financial results for its fiscal 2016 first quarter, ended January 31, 2016.

First quarter net revenue of $12.7 billion was down 3% from the prior-year period and up 4% on a constant currency basis.

First quarter GAAP diluted net earnings per share (EPS) was $0.15, down from $0.30 in the prior-year period, and above its previously provided outlook of $0.09 to $0.13. First quarter non-GAAP diluted net EPS was $0.41, down from adjusted non-GAAP diluted net EPS of $0.44 in the prior-year period, and at the top end of its previously provided outlook of $0.37 to $0.41. First quarter non-GAAP net earnings and non-GAAP diluted net EPS exclude after- tax costs of $464 million and $0.26 per diluted share, respectively, related to restructuring charges, the amortization of intangible assets, separation costs, acquisition and other related charges and tax indemnification adjustments.

“During our first quarter as an independent company, we saw the progress that comes from being more focused and nimble,” said Meg Whitman, president and chief executive officer, Hewlett Packard Enterprise. “We delivered a third consecutive quarter of year-over-year constant currency revenue growth, and excluding the impact of recent M&A activity, we saw revenue growth in constant currency across every business segment for the first time since 2010”.

For the full release, visit: http://investors.hpe.com/~/media/Files/H/HP-Enterprise-IR/documents/press-release-march-03-2016.pdf

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