Name: Hewlett Packard Enterprise Co. (NYSE:HPE) | Analysis of Revenues
Creator: Stock Analysis on Net

Analysis of Revenues

Revenues as Reported

Revenues as Reported

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Hewlett Packard Enterprise Co., income statement, revenues

US$ in millions

12 months ended:	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021	Oct 31, 2020	Oct 31, 2019	Oct 31, 2018
Compute	11,129)	12,519)	12,041)	11,905)	13,332)	—)
High Performance Computing & Artificial Intelligence (HPC & AI)	3,775)	3,078)	3,041)	3,014)	2,861)	—)
Storage	4,329)	4,654)	4,681)	4,592)	5,183)	—)
Intelligent Edge	5,186)	3,665)	3,277)	2,838)	2,901)	—)
Financial Services (FS)	3,466)	3,326)	3,388)	3,340)	3,573)	—)
Corporate Investments and Other	1,250)	1,254)	1,356)	1,293)	1,285)	—)
Net revenue	29,135)	28,496)	27,784)	26,982)	29,135)	—)

Based on: 10-K (reporting date: 2023-10-31), 10-K (reporting date: 2022-10-31), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-10-31), 10-K (reporting date: 2018-10-31).

Net revenue exhibited a cyclic trend over the analyzed five-year period, characterized by a contraction in 2020 followed by a steady recovery. After declining from 29,135 million US dollars in 2019 to 26,982 million US dollars in 2020, the total revenue grew progressively each year, returning to its 2019 level of 29,135 million US dollars by October 31, 2023.

High-Growth Revenue Streams: A significant expansion is observed in the Intelligent Edge segment, which grew from 2,901 million US dollars in 2019 to 5,186 million US dollars in 2023, representing the most substantial growth across all business units. High Performance Computing & Artificial Intelligence (HPC & AI) also demonstrated a consistent upward trajectory, increasing from 2,861 million US dollars in 2019 to 3,775 million US dollars in 2023, with the most pronounced acceleration occurring in the final year of the period.
Declining Revenue Streams: Traditional hardware segments experienced a general downward trend. Compute revenue decreased from 13,332 million US dollars in 2019 to 11,129 million US dollars in 2023, despite a brief recovery in 2022. Storage revenue similarly declined, falling from 5,183 million US dollars in 2019 to 4,329 million US dollars in 2023.
Stable Revenue Streams: Financial Services and Corporate Investments and Other remained relatively stagnant. Financial Services fluctuated within a narrow range, starting at 3,573 million US dollars in 2019 and ending at 3,466 million US dollars in 2023. Corporate Investments and Other maintained a consistent profile, fluctuating minimally between 1,250 million and 1,356 million US dollars throughout the period.

The overall revenue composition indicates a strategic shift in the business mix. While net revenue has remained flat when comparing 2019 to 2023, there is a clear transition from a reliance on Compute and Storage toward an increased contribution from Intelligent Edge and HPC & AI segments.

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