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Antonio Neri's Five Boldest Statements From HPE’s Annual Meeting

HPE CEO Antonio Neri told shareholders at the company's annual meeting the company is not getting ‘full credit’ it deserves for robust growth in intelligent edge and strong performance in the core hybrid IT business.

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Antonio Neri. Photo by Eric Draper

Meeting Financial Commitments

Hewlett Packard Enterprise CEO Antonio Neri says the company is not getting its due for meeting its financial commitments, driving robust growth in the intelligent edge business, and even strong performance in hybrid IT.

"I don't think we are getting full credit for our execution as a whole," said Neri in a question and answer session during HPE's annual shareholder meeting on Wednesday. "When I think about the growth we drove last year: 13 percent growth in intelligent edge; six percent growth in our core business which is a mature business- $24 billion of our portfolio; and then all the expansion in profit and non GAAP EPS (earnings per share). I don't think we got the full credit of the full execution of the business."

In fiscal 2018, HPE reported non-GAAP diluted net earnings per share of $1.56, up 63 percent from the prior year on sales growth of seven pecent to $30.9 billion.

"We exceeded our 2018 financial targets we set at the Securities Analyst Meeting in 2017 for revenue growth, non-GAAP operating profit, which was up 26 percent and non-GAAP earnings per share, up 63 percent versus the prior year," said Neri. "We did all this while returning $4 billion to shareholders."

Neri said that HPE continues to see "momentum" in the fiscal 2019 with a strong first quarter. "We are committed to continuing to execute and deliver on our commitments," he said. "We are actually very confident that ultimately will drive the shareholder value. Every quarter we have been delivering on our promises."

HPE's share price grew at twice the rate of the S&P 500 market index last year, said Neri.

HPE shares closed Wednesday up three cents to $15.85.

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