Hewlett Packard Enterprise Company (NYSE:HPE) Q1 2016 Earnings Conference Call - Final Transcript

Mar 03, 2016 • 05:00 pm ET


Hewlett Packard Enterprise Company (NYSE:HPE) Q1 2016 Earnings Conference Call - Final Transcript


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Good afternoon, and welcome to the First Quarter 2016 Hewlett Packard Enterprise Earnings Conference Call. My name is Laura and I'll be your conference moderator for today's call. [Operator Instructions]

I would now like to turn the presentation over to your host for today's call, Mr. Andrew Simanek, Head of Investor Relations. Please proceed.

Andrew Simanek

Good afternoon. I'm Andy Simanek, Head of Investor Relations for Hewlett Packard Enterprise, and I'd like to welcome you to our Fiscal 2016 First Quarter Earnings Conference Call with Meg Whitman, HPE's President and Chief Executive Officer; and Tim Stonesifer, HPE's Executive Vice President and Chief Financial Officer.

Before handing the call over to Meg, let me remind you that this call is being webcast. A replay of the webcast will be made available shortly after the call for approximately one year. We posted the press release and the slide presentation accompanying today's earnings release on our HPE Investor Relations webpage at investors.hpe.com.

As always, elements of this presentation are forward-looking and are based on our best view of the world and our businesses as we see them today. For more detailed information, please see the disclaimers on the earnings materials relating to forward-looking statements that involve risks, uncertainties and assumptions. For a discussion of some of these risks, uncertainties and assumptions, please refer to HPE's SEC reports, including its most recent Form 10-K. HPE assumes no obligation and does not intend to update any such forward-looking statements.

We also note that the financial information discussed on this call reflects estimates based on information available at this time and could differ materially from the amounts ultimately reported in HPE's quarterly report on Form 10-Q for the fiscal quarter ended January 31st, 2016.

Finally, for a financial information that has been expressed on a non-GAAP basis, we have included reconciliations to the comparable GAAP information. Please refer to the tables and slide presentation accompanying today's earnings release.

With that, let me turn it over to Meg.

Margaret C. Whitman

Thanks, Andy. Good afternoon, everyone. Thank you for joining us today. We've now completed our first full quarter as an independent company, and we're off to a very strong start. We are already seeing the benefits of being a smaller, more focused and agile company across a number of fronts. Our customers and partners understand our strategy and appreciate working with a simplified, faster-moving organization.

Our employees are engaged and aligned. For example, we've created a single pan-HPE sales training and account planning program, which has already uncovered over 100 accounts where there are significant untapped cross-selling opportunities. Our innovation engine is firing on all cylinders, and you're going to see some amazing new introductions in the coming quarters in key areas of the portfolio, including servers, cloud, high-performance computing, IoT, all-flash storage, Aruba and converged systems.

For our shareholders, this focus is driving strong financial and operational performance. In Q1, we delivered our third consecutive quarter of growth in constant currency with revenue of $12.7 billion, up 4% year-over-year. And when