HPE’s been suffering a bit lately as its server business has struggled with corporate customers buying cheaper non-branded servers.
HPE cut costs as part of its HPE Next initiative announced last year, aiming to drive gross cost savings of $1.5 billion in the next three years.
The company forecast current-quarter adjusted earnings between 33 cents and 37 cents per share, the mid-point of which came in line with Wall Street estimates.
Revenue from Hybrid IT division, which houses servers, storage and data centre networking products, rose 4.6 percent to $6.44 billion, above analysts’ estimates of $6.30 billion.
The company’s net loss was $757 million in the fourth quarter ended 31 October from a profit of $524 million a year earlier.
HPE’s revenue rose 3.7 percent to $7.95 billion, above analysts’ average estimate of $7.84 billion.