HPE Delivers Q1 Results & Raises FY19 EPS Outlook

Q1 2019 Financial Highlights:

  • Revenue: $7.6 billion in line with guidance
  • Operating Profit: GAAP $456 million, up 100% from the
    prior-year period; non-GAAP $669 million, up 19% from the prior-year
    period driven by improved gross margins and cost reductions from HPE
    Next
  • Earnings Per Share: GAAP $0.13, down 86% from the prior-year
    period EPS from continuing operations due primarily to one-time,
    non-cash adjustments related to U.S. tax reform; non-GAAP $0.42, up
    31% from the prior-year period and above the previously provided
    outlook of $0.33 to $0.37 per share
  • Cash Flow from Operations: $382 million, up 169% from $142
    million in the prior-year period
  • Free Cash Flow: ($190) million, up $222 million from the
    prior-year period

FY 2019 Outlook:

  • Earnings Per Share: Raising GAAP diluted net earnings per share
    outlook to $0.88 to $0.98 and non-GAAP diluted net earnings per share
    outlook to $1.56 to $1.66
  • Free Cash Flow: Reiterating free cash flow guidance of $1.4 to
    $1.6 billion

SAN JOSE, Calif.–(BUSINESS WIRE)–Hewlett Packard Enterprise (NYSE: HPE) today announced financial results
for its fiscal 2019 first quarter, ended January 31, 2019.

Today we reported another strong quarter for Hewlett Packard Enterprise
as we continue to execute against our strategy of growing in the
Intelligent Edge and delivering profitable growth in Hybrid IT,” said
Antonio Neri, President and CEO of HPE. “We significantly expanded both
gross and operating margins and drove 31% growth in non-GAAP earnings
per share. Looking forward, we are confident that HPE’s differentiated,
software-defined solutions will continue to gain traction with customers
looking to harness the explosion of data, driving accelerated revenue
growth starting in Q2.”

First Quarter Fiscal Year 2019

HPE fiscal 2019 first quarter continuing operations financial
performance

           
Q1 FY19 Q1 FY18 Y/Y
GAAP net revenue ($B) $7.6 $7.7 (1.6%)
GAAP operating margin 6.0% 3.0% 3.0 pts.
GAAP net earnings ($B) $0.2 $1.5 (88.1%)
GAAP diluted net earnings per share $0.13 $0.92 (85.9%)
Non-GAAP operating margin 8.9% 7.3% 1.6 pts.
Non-GAAP net earnings ($B) $0.6 $0.5 13.5%
Non-GAAP diluted net earnings per share $0.42 $0.32 31.3%
Cash flow from operations ($M) $382 $142 169%
 

Information about HPE’s use of non-GAAP financial information is
provided under “Use of non-GAAP financial information” below.

Financial Summary

First quarter net revenue of $7.6 billion, in-line with guidance,
down 2% from the prior-year period, and down 1% when adjusted for
currency. First quarter net revenue was up 1% from the prior-year
period, excluding Tier-1 server sales.

First quarter GAAP operating profit of $456 million, up 100% from
the prior-year period.

First quarter non-GAAP operating profit of $669 million, up 19%
from the prior-year period driven by 280 bps of gross margin expansion
and cost reductions from HPE Next.

First quarter GAAP diluted net earnings per share (“EPS”) from
continuing operations was $0.13, down from GAAP diluted net EPS from
continuing operations of $0.92 in the prior-year period primarily due to
one-time, non-cash adjustments related to U.S. tax reform.

First quarter non-GAAP diluted net EPS from continuing operations
was $0.42, up from non-GAAP diluted net EPS from continuing operations
of $0.32 in the prior-year period. First quarter non-GAAP net earnings
from continuing operations and non-GAAP diluted net EPS from continuing
operations exclude after-tax adjustments of $413 million and $0.29 per
diluted share, respectively, primarily related to the impact of U.S. tax
reform, tax indemnification adjustments, transformation costs,
amortization of intangible assets, acquisition, disposition and other
related charges and an adjustment to earnings from equity interests.

First quarter cash flow from operations of $382 million and free
cash flow
of ($190) million, was up $240 million and $222 million
from the prior-year period, respectively.

Segment Results

HPE delivered strong performance in the key areas of the portfolio.

  • Intelligent Edge delivered robust growth in this strategically
    important segment. Revenue was $686 million, up 5% year over year,
    with 1.3% operating margin. HPE Aruba Product revenue was up 3% with
    balanced growth across wired and WLAN. HPE Aruba Services revenue was
    up 20%.
  • Hybrid IT continued to drive profit growth with revenue of $6.0
    billion, down 3% year over year with 11.3% operating margin that was
    up 200 bps year over year. Compute revenue was down 3%. Excluding the
    impact from the company’s intentional exit of certain Tier-1 customer
    segments, Compute revenue grew 3% and HPE’s high-margin Value Compute
    portfolio grew approximately 20% driven by strength in
    high-performance compute, hyper-converged and composable. Storage
    revenue was up 3%, with particular strength in All-Flash Arrays, which
    grew 20%. HPE Pointnext revenue was down 6%, primarily due to the
    company’s intentional exit of certain geographies, and a strong book
    to bill of 110% indicates a strong pipeline of recurring revenue and
    profits.
  • Financial Services revenue was $919 million, up 3% year over
    year and up 6% when adjusted for currency, net portfolio assets were
    down 2% year over year and up 2% when adjusted for currency, and
    financing volume was down 3% year over year and flat when adjusted for
    currency. The business delivered an operating margin of 8.4%.

Raised FY 2019 Outlook

For the fiscal 2019 second quarter, Hewlett Packard Enterprise estimates
GAAP diluted net EPS to be in the range of $0.19 to $0.23 and non-GAAP
diluted net EPS to be in the range of $0.34 to $0.38. Fiscal 2019 second
quarter non-GAAP diluted net EPS estimates exclude after-tax costs of
approximately $0.15 per diluted share, primarily related to
transformation costs and the amortization of intangible assets.

For fiscal 2019 full-year, Hewlett Packard Enterprise now estimates GAAP
diluted net EPS to be in the range of $0.88 to $0.98 and the non-GAAP
diluted net EPS to be in the range of $1.56 to $1.66. Fiscal 2019
non-GAAP diluted net EPS estimates exclude after-tax costs of
approximately $0.68 per diluted share, primarily related to
transformation costs, the amortization of intangible assets, and an
adjustment to earnings from equity interests.

For fiscal 2019 full-year, Hewlett Packard Enterprise reiterates free
cash flow guidance range of $1.4 to $1.6 billion, up over 35% from the
prior year.

About Hewlett Packard Enterprise

Hewlett Packard Enterprise is a global technology leader focused on
developing intelligent solutions that allow customers to capture,
analyze and act upon data seamlessly from edge to cloud. HPE enables
customers to accelerate business outcomes by driving new business
models, creating new customer and employee experiences, and increasing
operational efficiency today and into the future.

Use of non-GAAP financial information

To supplement Hewlett Packard Enterprise’s condensed consolidated
financial statement information presented on a generally accepted
accounting principles (GAAP) basis, Hewlett Packard Enterprise provides
revenue on a constant currency basis as well as non-GAAP operating
expense, non-GAAP operating profit, non-GAAP operating margin, non-GAAP
income tax rate, non-GAAP net earnings from continuing operations,
non-GAAP net earnings from discontinued operations, non-GAAP diluted net
earnings per share from continuing operations, non-GAAP diluted net
earnings per share from discontinued operations, gross cash, free cash
flow, net capital expenditures, net debt, net cash, operating company
net debt and operating company net cash financial measures. Hewlett
Packard Enterprise also provides forecasts of non-GAAP diluted net
earnings per share and free cash flow. A reconciliation of adjustments
to GAAP financial measures for this quarter and prior periods is
included in the tables below or elsewhere in the materials accompanying
this news release. In addition, an explanation of the ways in which
Hewlett Packard Enterprise’s management uses these non-GAAP measures to
evaluate its business, the substance behind Hewlett Packard Enterprise’s
decision to use these non-GAAP measures, the material limitations
associated with the use of these non-GAAP measures, the manner in which
Hewlett Packard Enterprise’s management compensates for those
limitations, and the substantive reasons why Hewlett Packard
Enterprise’s management believes that these non-GAAP measures provide
useful information to investors is included under “Use of non-GAAP
financial measures” further below. This additional non-GAAP financial
information is not meant to be considered in isolation or as a
substitute for revenue, operating profit, operating margin, net earnings
from continuing operations, net earnings from discontinued operations,
diluted net earnings per share from continuing operations, diluted net
earnings per share from discontinued operations, cash, cash equivalents
and restricted cash, cash flow from operations, investments in property,
plant and equipment, or total company debt prepared in accordance with
GAAP.

Forward-looking statements

This press release contains forward-looking statements that involve
risks, uncertainties and assumptions. If the risks or uncertainties ever
materialize or the assumptions prove incorrect, the results of Hewlett
Packard Enterprise may differ materially from those expressed or implied
by such forward-looking statements and assumptions. All statements other
than statements of historical fact are statements that could be deemed
forward-looking statements, including but not limited to any projections
of revenue, margins, expenses, effective tax rates, the impact of the
U.S. Tax Cuts and Jobs Act of 2017, net earnings, net earnings per
share, cash flows, benefit plan funding, deferred tax assets, share
repurchases, currency exchange rates or other financial items; any
projections of the amount, timing or impact of cost savings or
restructuring charges; any statements of the plans, strategies and
objectives of management for future operations, as well as the execution
of transformation and restructuring plans and any resulting cost
savings, revenue or profitability improvements; any statements
concerning the expected development, performance, market share or
competitive performance relating to products or services; any statements
regarding current or future macroeconomic trends or events and the
impact of those trends and events on Hewlett Packard Enterprise and its
financial performance; any statements regarding pending investigations,
claims or disputes; any statements of expectation or belief; and any
statements or assumptions underlying any of the foregoing.

Risks, uncertainties and assumptions include the need to address the
many challenges facing Hewlett Packard Enterprise’s businesses; the
competitive pressures faced by Hewlett Packard Enterprise’s businesses;
risks associated with executing Hewlett Packard Enterprise’s strategy;
the impact of macroeconomic and geopolitical trends and events; the need
to manage third-party suppliers and the distribution of Hewlett Packard
Enterprise’s products and the delivery of Hewlett Packard Enterprise’s
services effectively; the protection of Hewlett Packard Enterprise’s
intellectual property assets, including intellectual property licensed
from third parties and intellectual property shared with its former
Parent; risks associated with Hewlett Packard Enterprise’s international
operations; the development and transition of new products and services
and the enhancement of existing products and services to meet customer
needs and respond to emerging technological trends; the execution and
performance of contracts by Hewlett Packard Enterprise and its
suppliers, customers, clients and partners; the hiring and retention of
key employees; integration and other risks associated with business
combination and investment transactions; and the execution, timing and
results of any transformation or restructuring plans, including
estimates and assumptions related to the cost (including any possible
disruption of Hewlett Packard Enterprise’s business) and the anticipated
benefits of the transformation and restructuring plans; the effects of
the U.S. Tax Cuts and Jobs Act and related guidance and regulations that
may be implemented; the resolution of pending investigations, claims and
disputes; and other risks that are described in Hewlett Packard
Enterprise’s Annual Report on Form 10-K for the fiscal year ended
October 31, 2018.

As in prior periods, the financial information set forth in this press
release, including tax-related items, reflects estimates based on
information available at this time. While Hewlett Packard Enterprise
believes these estimates to be reasonable, these amounts could differ
materially from reported amounts in the Hewlett Packard Enterprise
Quarterly Report on Form 10-Q for the fiscal quarter ended January 31,
2019. Hewlett Packard Enterprise assumes no obligation and does not
intend to update these forward-looking statements.

 

HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
CONDENSED
CONSOLIDATED STATEMENTS OF EARNINGS

(Unaudited)
(In
millions, except per share amounts)

 
Three months ended
January 31,
2019
  October 31,
2018
  January 31,
2018
Net revenue(a) $ 7,553 $ 7,946 $ 7,674
Costs and expenses:
Cost of sales 5,207 5,507 5,505
Research and development 466 440 389
Selling, general and administrative 1,211 1,237 1,218
Amortization of intangible assets 72 72 78
Impairment of goodwill 88
Restructuring charges 5 5
Transformation costs 78 (77 ) 245
Acquisition, disposition and other related charges 63 12 30
Separation costs   9   (24 )
Total costs and expenses 7,097   7,293   7,446  
Earnings from continuing operations 456 653 228
Interest and other, net (51 ) (111 ) (21 )
Tax indemnification adjustments(b) 219 (12 ) (919 )
Non-service net periodic benefit credit(c) 16 31 33
Earnings from equity interests 15   15   22  
Earnings (loss) from continuing operations before taxes 655 576 (657 )
(Provision) benefit for taxes(d) (478 ) (1,348 ) 2,139  
Net earnings (loss) from continuing operations 177 (772 ) 1,482
Net earnings (loss) from discontinued operations   15   (46 )
Net earnings (loss) $ 177   $ (757 ) $ 1,436  
Net earnings (loss) per share:
Basic
Continuing operations $ 0.13 $ (0.53 ) $ 0.93
Discontinued operations   0.01   (0.03 )
Total basic net earnings (loss) per share $ 0.13   $ (0.52 ) $ 0.90  
Diluted
Continuing operations $ 0.13 $ (0.53 ) $ 0.92
Discontinued operations   0.01   (0.03 )
Total diluted net earnings (loss) per share $ 0.13   $ (0.52 ) $ 0.89  
Cash dividends declared per share $ 0.1125 $ 0.1125 $ 0.1500
Weighted-average shares used to compute net earnings (loss) per
share:
Basic 1,401 1,459 1,591
Diluted 1,412 1,459 1,619
 

HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
ADJUSTMENTS
TO GAAP NET EARNINGS, EARNINGS FROM OPERATIONS,

OPERATING
MARGIN AND DILUTED NET EARNINGS PER SHARE

(Unaudited)
(In
millions, except percentages and per share amounts)

           

Three months
ended
January 31,
2019

Diluted net
earnings
per share

Three months
ended
October 31,
2018

Diluted net
earnings
per share

Three months
ended
January 31,
2018

Diluted net
earnings
per share

GAAP net earnings (loss) from continuing operations $ 177 $ 0.13 $ (772 ) $ (0.53 ) $ 1,482 $ 0.92
 
Non-GAAP adjustments:
Amortization of intangible assets 72 0.05 72 0.05 78 0.05
Impairment of goodwill 88 0.06
Restructuring charges(c) 5 5
Transformation costs(c) 78 0.06 (57 ) (0.04 ) 245 0.15
Acquisition, disposition and other related charges 63 0.04 12 0.01 30 0.02
Separation costs(c) 9 0.01 (24 ) (0.01 )
Tax indemnification adjustments(b) (219 ) (0.16 ) 12 0.01 919 0.57
Non-service net periodic benefit credit(c) (16 ) (0.01 ) (31 ) (0.02 ) (33 ) (0.02 )
Loss from equity interests(e) 38 0.03 38 0.03 37 0.02
Adjustments for taxes(d)(f) 397   0.28   1,257   0.85   (2,219 ) (1.38 )
Non-GAAP net earnings from continuing operations(c) $ 590   $ 0.42   $ 633   $ 0.43   $ 520   $ 0.32  
 
GAAP earnings from continuing operations $ 456 $ 653 $ 228
 
Non-GAAP adjustments related to continuing operations:
Amortization of intangible assets 72 72 78
Impairment of goodwill 88
Restructuring charges(c) 5 5
Transformation costs(c) 78 (77 ) 245
Acquisition, disposition and other related charges 63 12 30
Separation costs(c) 9 (24 )
Non-GAAP earnings from continuing operations $ 669   $ 762   $ 562  
 
GAAP operating margin from continuing operations 6 % 8 % 3 %
Non-GAAP adjustments from continuing operations 3 % 2 % 4 %
Non-GAAP operating margin from continuing operations 9 % 10 % 7 %
 
GAAP net earnings (loss) from discontinued operations $ $ $ 15 $ 0.01 $ (46 ) $ (0.03 )
 
Non-GAAP adjustments related to discontinued operations:
Separation costs 51 0.03
Tax indemnification adjustments (11 ) (0.01 ) (4 )
Adjustments for taxes     (4 )   (1 )  
Non-GAAP net earnings from discontinued operations $   $   $   $   $

 

 

 

$  
 
Total GAAP net earnings (loss) $ 177   $ 0.13   $ (757 ) $ (0.52 ) $ 1,436   $ 0.89  
Total Non-GAAP net earnings $ 590   $ 0.42   $ 633   $ 0.43   $ 520   $ 0.32  
 

HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
CONDENSED
CONSOLIDATED BALANCE SHEETS

(Unaudited)
(In
millions, except par value)

 
As of
January 31, 2019   October 31, 2018
ASSETS
Current assets:
Cash and cash equivalents $ 3,781 $ 4,880
Accounts receivable 3,183 3,263
Financing receivables 3,487 3,396
Inventory 2,300 2,447
Assets held for sale 14 6
Other current assets(g) 2,667   3,280  
Total current assets 15,432   17,272  
Property, plant and equipment 6,141 6,138
Long-term financing receivables and other assets 9,438 11,359
Investments in equity interests 2,413 2,398
Goodwill and intangible assets 18,334   18,326  
Total assets $ 51,758   $ 55,493  
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Notes payable and short-term borrowings $ 2,073 $ 2,005
Accounts payable 5,789 6,092
Employee compensation and benefits 1,142 1,412
Taxes on earnings 295 378
Deferred revenue 3,152 3,177
Accrued restructuring 239 294
Other accrued liabilities 3,769   3,840  
Total current liabilities 16,459   17,198  
Long-term debt 10,280 10,136
Other non-current liabilities 6,684 6,885
Stockholders’ equity
HPE stockholders’ equity:
Preferred stock, $0.01 par value (300 shares authorized; none issued
and outstanding at January 31, 2019)
Common stock, $0.01 par value (9,600 shares authorized; 1,378 and
1,423 shares issued and outstanding at January 31, 2019 and October
31, 2018, respectively)
14 14
Additional paid-in capital 29,607 30,342
Accumulated deficit(i) (8,034 ) (5,899 )
Accumulated other comprehensive loss (3,294 ) (3,218 )
Total HPE stockholders’ equity 18,293 21,239
Non-controlling interests 42   35  
Total stockholders’ equity 18,335   21,274  
Total liabilities and stockholders’ equity $ 51,758   $ 55,493  
 

HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)
(In
millions)

 
  Three Months Ended January 31,
2019   2018
Cash flows from operating activities:
Net earnings $ 177 $ 1,436
Adjustments to reconcile net earnings to net cash provided by
operating activities:
Depreciation and amortization 639 635
Stock-based compensation expense 75 103
Provision for doubtful accounts and inventory 42 41
Restructuring charges 33 174
Deferred taxes on earnings 370 (1,335 )
Earnings from equity interests (15 ) (22 )
Other, net 46 102
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable 113 (34 )
Financing receivables (156 ) (287 )
Inventory 99 (146 )
Accounts payable (256 ) (107 )
Taxes on earnings (107 ) (1,009 )
Restructuring (110 ) (226 )
Other assets and liabilities (568 ) 817  
Net cash provided by operating activities 382   142  
Cash flows from investing activities:
Investment in property, plant and equipment (729 ) (669 )
Proceeds from sale of property, plant and equipment 157 115
Purchases of available-for-sale securities and other investments (5 ) (3 )
Maturities and sales of available-for-sale securities and other
investments
1
Financial collateral posted (245 ) (738 )
Financial collateral returned 281 164
Payments made in connection with business acquisitions, net of cash
acquired
(76 )  
Net cash used in investing activities (616 ) (1,131 )
Cash flows from financing activities:
Short-term borrowings with original maturities less than 90 days, net (12 ) (3 )
Proceeds from debt, net of issuance costs 389 270
Payment of debt (334 ) (253 )
Net proceeds related to stock-based award activities (17 ) 17
Repurchase of common stock (814 ) (742 )
Net transfer of cash and cash equivalents to Everett (28 )
Net transfer of cash and cash equivalents to Seattle (70 )
Cash dividends paid (157 ) (120 )
Net cash used in financing activities (945 ) (929 )
Decrease in cash, cash equivalents and restricted cash(g) (1,179 ) (1,918 )
Cash, cash equivalents and restricted cash at beginning of period(g) 5,084   9,592  

Cash, cash equivalents and restricted cash at end of period(g)

$ 3,905   $ 7,674  
 

HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES

SEGMENT INFORMATION

(Unaudited)

(In millions)

 
Three months ended
January 31,
2019
  October 31,
2018
  January 31,
2018
Net revenue:(a)(h)
Hybrid IT $ 5,970 $ 6,338 $ 6,158
Intelligent Edge 686 773 656
Financial Services 919 939 888
Corporate Investments 118   139   136  
Total segment net revenue 7,693 8,189 7,838
Elimination of intersegment net revenue and other (140 ) (243 ) (164 )
Total Hewlett Packard Enterprise consolidated net revenue $ 7,553   $ 7,946   $ 7,674  
 
Earnings from continuing operations before taxes:(c)(h)
Hybrid IT $ 675 $ 716 $ 572
Intelligent Edge 9 86 34
Financial Services 77 71 71
Corporate Investments (28 ) (12 ) (26 )
Total segment earnings from operations(c)(h) 733 861 651
 
Unallocated corporate costs and eliminations(c) (50 ) (90 ) (59 )
Unallocated stock-based compensation expense (14 ) (9 ) (30 )
Amortization of intangible assets (72 ) (72 ) (78 )
Impairment of goodwill (88 )
Restructuring charges(c) (5 ) (5 )
Transformation costs(c) (78 ) 77 (245 )
Acquisition, disposition and other related charges (63 ) (12 ) (30 )
Separation costs(c) (9 ) 24

Interest and other, net

(51 ) (111 ) (21 )
Tax indemnification adjustments(b) 219 (12 ) (919 )
Non-service net periodic benefit credit(c) 16 31 33
Earnings from equity interests 15   15   22  
Total Hewlett Packard Enterprise consolidated earnings (loss) from
continuing operations before taxes
$ 655   $ 576   $ (657 )
 
HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
SEGMENT/BUSINESS
UNIT INFORMATION

(Unaudited)
(In millions,
except percentages)
   
Three months ended Change (%)

January 31,
2019

 

October 31,
2018

 

January 31,
2018

Q/Q   Y/Y
Net revenue:(a)(h)
Hybrid IT
Hybrid IT Product
Compute $ 3,402 $ 3,707 $ 3,518 (8 %) (3 %)
Storage 975   959   948   2 % 3 %
Total Hybrid IT Product 4,377 4,666 4,466 (6 %) (2 %)
HPE Pointnext 1,593   1,672   1,692   (5 %) (6 %)
Total Hybrid IT 5,970   6,338   6,158   (6 %) (3 %)
Intelligent Edge
HPE Aruba Product 597 685 582 (13 %) 3 %
HPE Aruba Services 89   88   74   1 % 20 %
Total Intelligent Edge 686   773   656   (11 %) 5 %
Financial Services 919   939   888   (2 %) 3 %
Corporate Investments 118   139   136   (15 %) (13 %)
Total segment net revenue 7,693   8,189   7,838   (6 %) (2 %)
Elimination of intersegment net revenue and other (140 ) (243 ) (164 ) (42 %) (15 %)
Total Hewlett Packard Enterprise consolidated net revenue $ 7,553   $ 7,946   $ 7,674   (5 %) (2 %)
 
HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
SEGMENT
OPERATING MARGIN SUMMARY DATA

(Unaudited)
   
Three months ended Change in Operating
Margin (pts)
January 31, 2019 Q/Q   Y/Y
Segment operating margin:(c)(h)
Hybrid IT

11.3 %

0 pts 2.0 pts
Intelligent Edge

1.3 %

(9.8) pts (3.9) pts
Financial Services

8.4 %

0.8 pts 0.4 pts
Corporate Investments

(23.7)%

(15.1) pts (4.6) pts
Total segment operating margin

9.5 %

(1.0) pts 1.2 pts
 

Contacts

Kate Holderness
kate.holderness@hpe.com

HPE Investor Relations
Investor.relations@hpe.com

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