Cloud News
5 Big HPE Bets Driving Shareholder Value: CEO Antonio Neri
Steven Burke
With artificial intelligence driving the next big wave of IT investment and innovation, Hewlett Packard Enterprise is poised to introduce ‘new breakthrough innovation this year’ to capitalize on the growing market opportunity, HPE CEO Antonio Neri said in remarks at the company’s annual stockholder’s meeting.
Accelerating Shareholder Value
Hewlett Packard Enterprise President and CEO Antonio Neri Wednesday said HPE’s “evolution” into an edge-to-cloud platform company “fueled by a software- and services-rich portfolio” is delivering strong financial results that will accelerate shareholder value for “years to come.”
HPE performed “remarkably well” in Fiscal Year 2022 despite the “economic, geopolitical and supply challenges,” said Neri in remarks at the company’s annual stockholder’s meeting. “Hewlett Packard Enterprise is executing a winning strategy,” he said.
With the HPE portfolio focused on “high-growth, high gross-margin,” HPE reported “record non-GAAP diluted net earnings” per share of $2.02 on a 5 percent increase in sales in constant currency in Fiscal Year 2022 to $28.5 billion, said Neri.
HPE generated free cash flow in Fiscal Year 2022 of $1.8 billion, the second-highest free cash flow in the company’s history, three times the level of Fiscal Year 2020.
Over the last five years HPE has returned nearly $10 billion to shareholders through dividends and share repurchases, said Neri.
“Our winning edge-to-cloud strategy, differentiated portfolio and outstanding execution have delivered continued momentum into Fiscal Year 2023,” said Neri.
In the first quarter of Fiscal 2023 ended Jan. 31, HPE reported non-GAAP diluted net earnings of 63 cents per share, a new quarterly record, on a 19 percent increase in sales in constant currency to $7.8 billion. That was HPE’s highest first-quarter sales since 2016.
Here are Neri’s comments on five big bets driving shareholder value.
