Economics
HPE Reports Revenue That Misses Estimates on Server Demand
- Sales drop year-over-year for the fourth period in a row
- Hardware maker affirms forecast for 2020 fiscal-year profit
Photographer: David Paul Morris/Bloomberg
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Hewlett Packard Enterprise Co. reported sales that fell short of Wall Street estimates, signaling that corporate demand for data-center hardware remains in a slump amid slowing economic growth.
Revenue dropped 9.1% to $7.22 billion, the San Jose, California-based company said Monday in a statement. It marked the fourth consecutive quarter of year-over-year sales declines. Analysts, on average, projected $7.42 billion.