HPE’s Hyperconverged Segment Attains Annual Run Rate of $1 Billion

Hewlett Packard Enterprise (HPE) reported fiscal 2018 third quarter revenue of $7.76 billion, up 3.5 percent year over year, and non-GAAP earnings per share of $0.44. Revenue topped analysts’ consensus of $7.68 billion, and earnings per share topped a $0.37 consensus.The company’s CEO Antonio Neri also announced that CFO Tim Stonesifer will be stepping down. And Neri has selected Tarek Robbiati to fill the CFO role effective Sept. 17. Robbiati, who will report to Neri, most recently served as CFO at Sprint. In HPE’s earnings call with investors Neri said the company’s focus on shifting to higher-value growth areas was working. And he several times touted execution of HPE Next, the company’s initiative to re-architect itself from the ground up. Internally, HPE Next is known as a layoff program. HPE’s server revenue, which accounts for over 40 percent of its total revenue, rose 5 percent year over year. Storage revenue rose 1 percent over that same period.