Hewlett Packard Enterprise (HPE) shares closed 10% higher following the company’s better-than-expected fiscal fourth quarter earnings results. HPE beat both earnings and revenue estimates, with revenue coming in at a record-high $8.46 billion, up 15% year over year (estimates were for $8.26 billion) and adjusted earnings of $0.58 per share (estimates were for $0.56 per share).
HPE CEO Antonio Neri joined Yahoo Finance Executive Editor Brian Sozzi to discuss the company’s earnings and the impacts of the company’s initiatives to power the development of AI.
"Where I was really pleased, is the fact that now enterprise is deploying AI, including ourselves," says Neri, adding "In that segment of the market, they’re looking for time to value and simplicity of the offer."
The CEO also discussed HPE’s pending acquisition of Juniper Networks (JNPR), which is being reviewed by the U.S. Department of Justice. The company is still optimistic the deal will go through in the new year.
"We have received pretty much all the approval outside the United States, with unconditional support," according to Neri, adding "We still believe the deal will close in the early part of 2025."
Neri also gave his thoughts on the news of Pat Gelsinger’s abrupt retirement from his role as Intel’s (INTC) CEO and the importance of the chipmaker.
"The United States needs a healthy Intel," says Neri.
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