TMT EOD Wrap; HPE First Take

Good afternoon. QQQs - 25bps as semis +25bps outperformed a bit despite more NVDA weakness after DOJ news although co. said they have not been subpoenaed by DOJ. Citi conference started today (still going through some of the transcripts...) All eyes on Friday’s NFP. Let’s get to the recap…

Post-close HPE results look fine with a bit of upside to the q and guide but GM missed by 150bps.

HPE - F/Y GUIDANCE
- Guides ADJ EPS $1.92 to $1.97, saw $1.85 to $1.95, EST $1.92
- Guides free cash flow $1.9B, saw at least $1.9B, EST $2.21B
- Still sees revenue ADJ for currency +1% to +3%
GUIDANCE: Q4
- Guides ADJ EPS $0.52 to $0.57, EST $0.54
- Guides net revenue $8.1B to $8.4B, EST $8.15B
RESULTS: Q3
- Net revenue $7.71B, +10% y/y, EST $7.66B
- Server revenue $4.28B, +35% y/y, EST $4.29B
- Hybrid cloud net rev. $1.30B, -6.9% y/y, EST $1.29B
- Intelligent Edge revenue $1.12B, -23% y/y, EST $1.12B
- Financial Services revenue $879M, +0.7% y/y, EST $879.6M
- Corporate Investments and Other revenue $262M, +6.5% …