Hewlett Packard Enterprise (HPE) is a global technology leader that develops intelligent solutions enabling customers to seamlessly capture, analyze, and act upon data from edge to cloud . The company offers a range of products and services across various segments, including general-purpose and workload-optimized servers, high-performance computing systems, data storage solutions, networking products, and financial services . HPE's Compute and Intelligent Edge segments are among the top contributors to its consolidated net revenue .
- Compute - Offers general-purpose servers and workload-optimized servers, which are significant revenue sources for HPE .
- Intelligent Edge - Focuses on networking products and services, contributing significantly to HPE's revenue .
- High Performance Computing & Artificial Intelligence (HPC & AI) - Provides integrated systems for high-performance computing and AI workloads, including products like HPE Cray EX and HPE NonStop .
- Storage - Delivers data storage and management solutions .
- Financial Services - Provides leasing and financing solutions to support HPE's product sales .
- Corporate Investments and Other - Encompasses various corporate investments and other business activities .
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Antonio F. Neri ExecutiveBoard | President and CEO | Director at Elevance Health, Inc. | Antonio Neri has been with HPE since 1996 and became CEO in February 2018. He has led HPE's transformation into a leader in edge-to-cloud platforms and consumption-based IT models. | |
Fidelma Russo Executive | EVP, CTO, and GM of Hybrid Cloud | Board Member at Equinix, Inc. | Fidelma Russo joined HPE in September 2021 as CTO and became GM of Hybrid Cloud in November 2023. She has extensive experience in cloud services, AI, and advanced technology development. | |
Gerri A. Gold Executive | EVP, President, and CEO of HPE Financial Services | None | Gerri Gold has been with HPE and its predecessors for years. She became CEO of HPE Financial Services in February 2023, leading global financing and asset management operations. | |
John F. Schultz Executive | EVP, Chief Operating and Legal Officer | None | John Schultz joined HP in 2008 and has held various legal and operational roles. He became Chief Operating and Legal Officer in July 2020, overseeing HPE's operations and legal strategies. | |
Kristin Major Executive | EVP and Chief People Officer | None | Kristin Major joined HPE in 2011 and became Chief People Officer in February 2024. She has led HR for key divisions and focuses on fostering a high-performance culture and inclusive leadership. | |
Marie Myers Executive | EVP and CFO | None | Marie Myers joined HPE as CFO in January 2024. She previously served as CFO at HP Inc. and has driven strong financial performance at HPE, including record revenue in fiscal 2024. | View Report → |
Neil B. MacDonald Executive | EVP and GM of Server Business and HPC & AI | None | Neil MacDonald has been with HPE since 1996. He became EVP and GM of the Server Business in February 2024 and also leads the HPC & AI segment, driving HPE's AI strategy and GreenLake integration. | |
Ann M. Livermore Board | Director | Director at QUALCOMM Incorporated and Samsara Inc. | Ann Livermore has been a director at HPE since 2015. She previously served as EVP of HP's Enterprise Business and has extensive experience in technology, marketing, and business management. | |
Bethany J. Mayer Board | Director | Chair of the Board at Box Inc.; Board Member at LAM Research Corporation, Sempra Energy, and Astera Labs, Inc. | Bethany Mayer joined the HPE Board in 2023. She is a technology leader with experience as CEO of Ixia and SVP at HP, focusing on networking and cybersecurity. | |
Charles H. Noski Board | Director | Board Member at Booking Holdings Inc. | Charles Noski has been a director at HPE since 2020. He brings expertise in finance, accounting, and governance from his leadership roles at Bank of America, Northrop Grumman, and AT&T. | |
Frank A. D’Amelio Board | Director | Director at Humana Inc., Zoetis, Inc., and Catalent, Inc. | Frank D’Amelio joined the HPE Board in 2023. He brings extensive financial and operational expertise from his previous roles as CFO at Pfizer and other major corporations. | |
Gary M. Reiner Board | Director | Operating Partner at General Atlantic LLC; Director at Citigroup, Inc. | Gary Reiner has been a director at HPE since 2015. He brings expertise in corporate strategy, IT, and governance from his roles at GE and General Atlantic. | |
Jean M. Hobby Board | Director | Director at Integer Holdings Corporation and Texas Instruments Incorporated | Jean Hobby has been a director at HPE since 2019. She brings deep expertise in finance and strategic planning from her career at PwC, where she served as CFO and Global Strategy Partner. | |
Pamela L. Carter Board | Director | Director at Enbridge Inc. and Broadridge Financial Solutions, Inc. | Pamela Carter has been a director at HPE since 2015. She brings expertise in global trade, corporate transformations, and legal/regulatory matters, having served as Indiana's first African American female attorney general. | |
Raymond E. Ozzie Board | Director | CEO of Blues Wireless Inc. | Raymond Ozzie has been a director at HPE since 2015. He is a technology pioneer, known for his work as the creator of Lotus Notes and his leadership roles at Microsoft and Blues Wireless. | |
Raymond J. Lane Board | Director | Managing Partner at GreatPoint Ventures; Director at Beyond Meat, Inc.; Board Member at Special Olympics International | Raymond Lane has been a director at HPE since 2015. He is a seasoned executive with expertise in corporate strategy, venture capital, and technology innovation. | |
Regina E. Dugan Board | Director | President and CEO of Wellcome Leap Inc.; Board Member at Siemens AG | Regina Dugan joined the HPE Board in 2022. She is a former DARPA director and a leader in advanced technology development, currently heading Wellcome Leap and serving on Siemens' board. |
- You mentioned debooking a large $700 million AI systems order due to concerns with a specific customer; can you provide more details on what led to this decision and how it might affect future AI systems orders?
- Given that AI systems orders can be "lumpy" and net orders were approximately $500 million after the debooking, how confident are you in the sustainability of AI systems revenue growth, and what measures are you taking to manage the volatility in this segment?
- With the AI systems business contributing to lower gross margins due to competitive pressures, what strategies do you have to improve profitability in this area, and are there specific gross margin thresholds you aim to maintain when pursuing AI deals?
- As you transition to next-generation GPUs like Blackwell, what challenges do you foresee in maintaining your AI systems revenue momentum, and how might this transition impact your operating margins in the upcoming quarters?
- The Intelligent Edge business experienced a 20% year-over-year revenue decline and continued prolonged sales cycles; what specific actions are you taking to address these challenges, and when do you anticipate a return to growth in this segment?
Research analysts who have asked questions during Hewlett Packard Enterprise earnings calls.
Amit Daryanani
Evercore
4 questions for HPE
Meta Marshall
Morgan Stanley
4 questions for HPE
Samik Chatterjee
JPMorgan Chase & Co.
4 questions for HPE
Aaron Rakers
Wells Fargo
3 questions for HPE
Ananda Baruah
Loop Capital Markets LLC
3 questions for HPE
David Vogt
UBS Group AG
3 questions for HPE
Simon Leopold
Raymond James
3 questions for HPE
Wamsi Mohan
Bank of America Merrill Lynch
3 questions for HPE
Matthew Niknam
Deutsche Bank
2 questions for HPE
Michael Ng
Goldman Sachs
2 questions for HPE
Timothy Long
Barclays
2 questions for HPE
Toni Sacconaghi
Bernstein
2 questions for HPE
Asiya Merchant
Citigroup Global Markets Inc.
1 question for HPE
Mike Ng
Goldman Sachs
1 question for HPE
Tim Long
Barclays
1 question for HPE
Victor Chiu
Raymond James
1 question for HPE
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Primary competitors in the Hybrid Cloud segment, which includes private cloud services solutions like HPE's GreenLake and Storage solutions, and associated private cloud software offerings. | |
Competes in both the Hybrid Cloud segment and the Intelligent Edge segment, which involves networking and connectivity infrastructure. | |
Competes in the Hybrid Cloud segment and the Server business, which involves enterprise data center infrastructure and high performance supercomputing. | |
Competes in the Hybrid Cloud segment and also through its captive financing company, IBM Global Financing, in the Financial Services segment. | |
Competes in the Hybrid Cloud segment. | |
Competes in the Hybrid Cloud segment. | |
Competes in the Hybrid Cloud segment. | |
Amazon Web Services | Competes as a public cloud vendor in the Hybrid Cloud segment. |
Competes as a public cloud vendor in the Hybrid Cloud segment. | |
Competes as a public cloud vendor in the Hybrid Cloud segment. | |
Competes in the Intelligent Edge segment, which involves networking and connectivity infrastructure. | |
Competes in the Intelligent Edge segment, which involves networking and connectivity infrastructure. | |
Competes in the Intelligent Edge segment, which involves networking and connectivity infrastructure. | |
Competes in the Intelligent Edge segment, which involves networking and connectivity infrastructure. | |
Competes in the Intelligent Edge segment, which involves networking and connectivity infrastructure. | |
Ruckus Networks | Competes in the Intelligent Edge segment, which involves networking and connectivity infrastructure. |
Competes in the Intelligent Edge segment, which involves networking and connectivity infrastructure. | |
Nile | Competes as a networking-as-a-service vendor in the Intelligent Edge segment. |
Meter | Competes as a networking-as-a-service vendor in the Intelligent Edge segment. |
Competes in the Server business, which involves enterprise data center infrastructure and high performance supercomputing. | |
Lenovo Group Ltd. | Competes in the Server business, which involves enterprise data center infrastructure and high performance supercomputing. |
Fujitsu Network Communications, Inc. | Competes in high performance infrastructure, which involves solutions for super-compute and AI workloads. |
Atos Information Technology Incorporated | Competes in high performance infrastructure, which involves solutions for super-compute and AI workloads. |
Competes in the Financial Services segment as a captive financing company. | |
Dell Financial Services | Competes in the Financial Services segment as a captive financing company. |
Cisco Capital | Competes in the Financial Services segment as a captive financing company. |
ERI | Competes in the IT Asset Disposition (ITAD) segment. |
Ingram Micro | Competes in the IT Asset Disposition (ITAD) segment. |
Sage Sustainable Electronics | Competes in the IT Asset Disposition (ITAD) segment. |
Sims Recycling Solutions | Competes in the IT Asset Disposition (ITAD) segment. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Distributor 1 (FY 2024) | Major distribution partner | Intelligent Edge and Server | Represented 14% of HPE’s total net revenue in fiscal 2024 |
Distributor 2 (FY 2024) | Major distribution partner | Intelligent Edge and Server | Represented 11% of HPE’s total net revenue in fiscal 2024 |
Distributor (FY 2023) | Major distribution partner | Intelligent Edge and Server | Represented 11% of HPE’s total net revenue in fiscal 2023 |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Juniper Networks, Inc. | 2025 | HPE’s proposed acquisition of Juniper Networks, Inc. is designed to enhance its edge-to-cloud strategy by expanding its portfolio with a full networking IP stack and AI-driven capabilities; however, it faces regulatory challenges including a DOJ lawsuit and pending clearance in the U.S. and Israel despite approvals in 14 jurisdictions. |
Athonet | 2023 | HPE acquired Athonet to strengthen its private networking capabilities, particularly in private 5G, by integrating its technology into the HPE GreenLake platform for a seamless WiFi and private 5G as-a-service offering; this move was part of a broader transaction valued at approximately $490 million. |
OpsRamp, Inc. | 2023 | HPE completed the acquisition of OpsRamp, Inc. on May 2, 2023, for about $307 million in cash, integrating its IT operations management solutions into the GreenLake edge-to-cloud platform to enhance hybrid and multi-cloud monitoring and automation; associated goodwill and intangible assets are being amortized over five years. |
Axis Security | 2023 | HPE’s acquisition of Axis Security, completed on March 15, 2023 for approximately $412 million, aimed at expanding its edge-to-cloud security by incorporating the SSE platform into its SASE solution, thereby bolstering its Intelligent Edge segment and supporting its shift toward higher-margin, software-intensive recurring revenue. |
Recent press releases and 8-K filings for HPE.
- The U.S. Department of Energy, Argonne National Laboratory, NVIDIA, Oracle, HPE, and WWT announced a public-private partnership to expand national AI infrastructure and deliver the DOE’s largest AI supercomputer.
- The upcoming Solstice system will feature 100,000 NVIDIA Blackwell GPUs, while Equinox will include 10,000 NVIDIA Blackwell GPUs, with Equinox expected in 2026.
- Oracle will immediately provide DOE researchers access to AI computing resources running on NVIDIA Hopper and Blackwell architectures, accelerating scientific discovery.
- Argonne will also deploy three new AI computing systems through its existing partnership with NVIDIA, HPE, and WWT to enhance AI inference capabilities.
- HPE selected to deliver two next-generation supercomputers, Mission and Vision, for Los Alamos National Laboratory in partnership with NVIDIA, under DOE’s $370 million investment initiative.
- Mission will deliver 4× the performance of LANL’s previous Crossroads system to support NNSA security and advanced AI modeling.
- Both systems use the new HPE Cray Supercomputing GX5000 with NVIDIA Vera Rubin GPUs and Quantum-X800 InfiniBand networking for exascale AI workloads.
- HPE and NVIDIA expanded the NVIDIA AI Computing by HPE portfolio, offering turnkey AI factory solutions to help governments, regulated industries, and enterprises overcome fragmented AI strategies and data siloes through secure, private AI infrastructure.
- HPE Private Cloud AI now features ProLiant Compute DL380a Gen12 servers paired with NVIDIA RTX PRO 6000 Blackwell GPUs, delivering 3× better price-to-performance and securing seven top MLPerf Inference v5.1 rankings.
- New air-gapped management and a unified data layer—combining HPE Data Fabric Software with Alletra Storage MP X10000—enable secure, compliant AI data governance and unstructured data storage in high-assurance environments.
- Additional offerings include the HPE ProLiant Compute XD685 with eight NVIDIA Blackwell Ultra GPUs, NVIDIA GB300 NVL72 by HPE (shipping December 2025), and a DL380 Gen12 Server Premier Solution for Azure Local hybrid cloud deployments.
- HPE partners with AMD, DOE, ORNL, and Oracle to build Lux AI and Discovery supercomputers, representing a $1 billion combined investment to advance U.S. AI and HPC leadership.
- Lux AI, the first dedicated U.S. AI Factory, will be deployed in early 2026 at ORNL, integrating AMD Instinct™ MI355X GPUs, EPYC™ CPUs, and Pensando™ networking technologies.
- Discovery, powered by HPE Cray GX5000, AMD EPYC “Venice” CPUs, and Instinct MI430X GPUs, is expected in 2028 with user operations in 2029, building on Frontier’s exascale foundation.
- Both systems directly support the U.S. AI Action Plan by accelerating AI-enabled science, strengthening national competitiveness, and delivering sovereign AI infrastructure.
- HPE was selected by the U.S. Department of Energy’s Oak Ridge National Laboratory to build a next-generation exascale supercomputer, “Discovery,” and a dedicated AI cluster, “Lux”.
- Discovery, based on the new HPE Cray Supercomputing GX5000, is expected to boost select application productivity 10X over Frontier and include DAOS-based K3000 storage.
- Lux will offer cloud-like, multi-tenant AI resources using HPE ProLiant Compute XD685 servers with AMD Instinct MI355X GPUs and EPYC CPUs.
- Discovery will deliver 25% greater rack density, 300% more IOPS per storage rack versus Frontier, and fully liquid-cooled AMD “Venice” processors for enhanced efficiency.
- HPE named a Leader in the inaugural 2025 Gartner Magic Quadrant for Infrastructure Platform Consumption Services, positioned highest in execution and furthest in vision.
- Recognition underscores HPE’s GreenLake hybrid cloud platform, unifying compute, storage, networking, software, and AIOps to support AI and virtualized workloads.
- HPE GreenLake now serves over 44,000 customers and has an annualized revenue run-rate exceeding $2 billion.
- Hewlett Packard Enterprise reaffirmed its shift to higher-growth, higher-margin businesses, highlighting expanded networking capabilities (via the Juniper acquisition), profitable AI infrastructure targeting sovereign and enterprise customers, accelerated GreenLake software and services, unstructured data management with Alletra MP, next-gen server transitions, and cost structure optimization.
- The Board approved a 10% increase to the annual dividend for fiscal 2026 and authorized an additional $3 billion share repurchase capacity, bringing total buyback authorization to $3.7 billion.
- By fiscal 2028, HPE targets generating > $3.5 billion in free cash flow, GAAP diluted EPS of ≈ $1.93, and non-GAAP diluted EPS of at least $3.00, under a pro forma revenue CAGR of 5–7% and non-GAAP operating profit growth of 11–17%.
- Management’s five strategic priorities to drive enhanced shareholder value are: building a networking industry leader, capturing profitable AI infrastructure growth, accelerating GreenLake expansion, capitalizing on unstructured data market growth, and transitioning customers to next-generation server platforms.
- HPE will boost its FY26 dividend by 10% and expand share repurchase authorization by $3 billion, raising total capacity to $3.7 billion.
- The company targets through FY28 a 5–7% revenue CAGR, 11–17% non-GAAP operating profit growth, ≥$3.00 non-GAAP EPS, ≈$1.93 GAAP EPS, and > $3.5 billion in free cash flow.
- For FY26, HPE forecasts 5–10% revenue growth, $2.20–2.40 non-GAAP EPS, $0.57–0.77 GAAP EPS, and $1.5–2.0 billion in free cash flow.
- Strategic priorities include creating a networking leader via the Juniper acquisition, capturing profitable AI infrastructure demand, accelerating GreenLake software and services, and realizing $950 million of cost savings (Catalyst and Juniper synergies) by FY28.
- HPE will consolidate its reporting into three segments—Networking; Cloud and AI; and Corporate Investments and Other—to offer clearer visibility, with Networking representing ~30% of revenue and >50% of operating profit on a pro forma basis.
- The company aims to achieve $1 billion in structural annualized run-rate cost savings by 2028, comprised of at least $600 million from the Juniper integration and $300 million from Catalyst initiatives.
- HPE targets $3.5 billion in free cash flow by fiscal 2028, plans to reduce net leverage to 2x by 2027, will raise its dividend by 10% to $0.57 per share starting Q1 2026, and authorized a $3 billion share repurchase program.
- It reaffirmed FY2025 non-GAAP EPS guidance, but cut GAAP Q4 EPS to a range of $0.11–$0.15 (FY: $0.03–$0.07), while maintaining $700 million in free cash flow guidance.
- On September 19, 2025, HPE’s HR and Compensation Committee increased target goals for its fiscal 2025 annual incentive program financial metrics to reflect the Juniper Networks acquisition and approximately four months of combined operations.
- Beginning with Q2 FY2025 (ended July 31, 2025), HPE revised its pre-acquisition ARR calculation to include software licenses support and maintenance revenue, aligning with Juniper’s methodology.
- All other terms of the fiscal 2025 annual incentive program remain unchanged.