Revenue of $916 million
Financial Services is Hewlett Packard Enterprise’s second-largest segment. It accounted for more than 12% of the company’s revenue in its fiscal second quarter. Its revenue was $916 million, a rise of 5% YoY (year-over-year). Its operating margin was 7.9%, indicating an operating profit of $72 million.
HPE attributed revenue growth for Financial Services to strong growth in its asset management business. In HPE’s earnings call, CEO Antonio Neri stated, “Customers are responding well to the actions we are taking both from an operational and innovation perspective. They believe in our strategy and the powerful portfolio of products and services we are building, and that confidence can be seen in some recent wins.”
Major wins for HPE in fiscal Q2 2018
In the second quarter, HPE won a high-performance computing deal with the United States Department of Energy. It also landed a project with Time Warner (TWX) since Aruba was selected for the Hudson Yards Smart Digital Workplace assignment in New York.
HPE is collaborating with universities to drive sales and has announced the installation of a new supercomputer in a Flemish research university. It also partnered with the university to develop and deploy a supercomputer built to run AI workloads that will build applications that drive economic growth, scientific breakthroughs, and innovation in Belgium.