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Q2 marked by revenue growth, strong profitability and cash flow; raising FY21 EPS and FCF outlook

Q2 2021 Financial Highlights:

  • Revenue: $6.7 billion, up 11% from the prior-year period or 9% when adjusted for currency with better than normal sequential seasonality driven by strong demand
    • Annualized revenue run-rate (ARR): $678 million, up 30% from the prior-year period
    • Intelligent Edge revenue: $799 million, up 20% from the prior year period or 17% when adjusted for currency
    • HPC & MCS revenue: $685 million, up 13% from the prior-year period or 11% when adjusted for currency
    • Core businesses delivered revenue growth and strong profitability with Compute revenue of $3.0 billion, up 12% from the prior-year period or 10% when adjusted for currency and Storage revenue of $1.1 billion, up 5% from the prior-year period or 3% when adjusted for currency
  • Diluted net earnings per share (“EPS”):
    • GAAP of $0.19, above the previously provided outlook of $0.02 to $0.08 per share
    • Non-GAAP of $0.46, up 70% from the prior-year period and above the previously provided outlook of $0.38 to $0.44 per share
  • Cash flow from operations of $822 million, up $722 million from the prior-year period
  • Generated free cash flow of $368 million, up $770 million from the prior-year period

Dividend: declared a regular cash dividend of $0.12 per share, payable on July 7, 2021

Outlook:

  • Fiscal 2021 Third quarter: Estimates GAAP diluted net EPS to be in the range of $0.04 to $0.10 and non-GAAP diluted net EPS to be in the range of $0.38 to $0.44
  • Fiscal 2021: Raises GAAP diluted net EPS outlook to $0.60 to $0.72 and non-GAAP diluted net EPS outlook to $1.82 to $1.94
  • Fiscal 2021 free cash flow1: Raises free cash flow guidance to $1.2 to $1.5 billion

Read more:

https://www.businesswire.com/news/home/20210601005301/en/HPE-Reports-Fiscal-2021-Second-Quarter-Results

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