2022/06 - IDC Link - Doc # lcUS49246522

HPE FY 2Q22 Results: Tight Supply Environment Continues to Weigh on Revenue Growth

By: Crawford Del Prete, Matthew Eastwood

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Abstract ：Overview

On June 1, 2022, Hewlett Packard Enterprise (HPE) announced its 2Q22 financial results. The company reported that second-quarter total net revenue in constant currency grew 1.5% YoY to $6.7 billion. HPE saw order growth of 20% YoY, the fourth consecutive quarter of improvement for this important leading indicator of business health. During the quarter, the company generated non-GAAP operating income of $627 million, which was down 18% sequentially and 8.5% YoY as the company continues to take proactive inventory measures to better position the business to deliver against the customer demand it is seeing in the marketplace. HPE reported that COVID-related shutdowns in China coupled with HPE’s cessation of services contracts in Russia impacted revenue by more than $250 million and operating margins by more than one point in the quarter.

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