Hewlett Packard Enterprise (HPE) has announced results for Q2 2022 ended April 30, 2022, revealing revenues of $6.7bn, up just 0.2 percent year-on-year.
Customer demand drove order growth up 20 percent from the prior-year period, with As-a-Service orders increasing by 107 percent year-on-year.
HPE stated that its “gross margins remain strong despite ongoing supply chain constraints and inflationary environment,” reporting a GAAP gross margin of 32.4 percent, down 170 basis points from the previous year, primarily due to $105m of Russia-related charges.
In Q2 2022, HPE reported GAAP diluted earnings per share of $0.19, flat from the prior-year period, again primarily due to Russia-related charges of $126m.
Antonio Neri, president and CEO of HPE, said: “Persistent demand led to another quarter of significant order growth and higher revenue for HPE, underscoring the accelerating interest customers have in our unique edge-to-cloud portfolio and our HPE GreenLake platform. I am optimistic that demand will continue to be strong, given our customers’ needs to accelerate their business resilience and competitiveness. We remain focused on innovating for our customers and on executing with discipline so that we translate that demand into profitable growth for HPE.”
HPE reiterated its fiscal 2022 revenue growth target of 3 to 4 percent, adjusted for currency. In Q3 fiscal 2022, HPE estimates GAAP diluted net earnings per share to be in the range of $0.22 to $0.32.