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Hewlett Packard Enterprise (HPE), the enterprise-focused half of demerged HP, has reported a quarterly revenue drop, down by 10 per cent, in financial results for its fiscal 2017 first quarter.
The results make it four out of five quarters since the demerger that HPE has reported declining revenues – while its ‘other half’, HP Inc, earlier this week reported a strong quarter.
HPE reported revenues down by a chunky 10.4 per cent to $11.4bn in the three months to the end of January , compared to $12.7bn in the same quarter a year ago. Due to vigorous cost-cutting, especially in sales, earnings remained flat at $267m. Research and development was also slashed, down by 17 per cent from $585m to $485m.
HPE CEO Meg Whitman claimed that the company ” remains on the right track “. She added: “The steps we’re taking to strengthen our portfolio, streamline our organisation, and build the right leadership team, are setting us up to win long into the future.
