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HPE's Whitman Struggles in Shift to Smaller Size, Cloud Pressure

  • Effort by CEO to improve profit hurt by ‘execution issues’
  • Revenue in fiscal first quarter declined 10% to $11.4 billion
Bloomberg business news

Hewlett Packard Enterprise 1Q Revenue Takes 10% Dive

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Hewlett Packard Enterprise Co.’s Meg Whitman, who has been working to transform the company into a more efficient corporate-technology provider, is being thwarted by rising supply costs and aggressive cloud rivals.

Whitman on Thursday cut the company’s adjusted profit forecast for the current fiscal year, missing analysts’ estimates. At the same time, Hewlett Packard Enterprise reported sales that missed projections for the third consecutive quarter. Though citing some challenges beyond her control, Whitman said she pushed some executives too hard while the information technology provider frees itself of underperforming businesses and finds new growth opportunities.