Hewlett Packard Enterprise Company (NYSE:HPE) Q3 2019 Earnings Conference Call - Final Transcript

Aug 27, 2019 • 05:00 pm ET


Hewlett Packard Enterprise Company (NYSE:HPE) Q3 2019 Earnings Conference Call - Final Transcript


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Good morning, good afternoon, good evening, and welcome to the Third Quarter 2019 Hewlett Packard Enterprise Earnings Conference Call. My name is Gary 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 2019 third quarter earnings conference call with Antonio Neri, HPE's President and Chief Executive Officer and Tarek Robbiati, HPE's Executive Vice President and Chief Financial Officer.

Before handing the call over to Antonio, let me remind you that this call is being webcast. A replay of the webcast will be made shortly available 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 filings with the SEC, 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 on HPE's quarterly report on Form 10-Q for the fiscal quarter ended July 31, 2019. Also for financial information that has been expressed on a non-GAAP basis, we have provided reconciliations to the comparable GAAP information on our website. Please refer to the tables and slide presentation accompanying today's earnings release on our website for details.

Throughout this conference call, all revenue growth rates , unless noted otherwise are presented on a year-over-year basis and are adjusted to exclude the impact of currency. Finally, please note that after Antonio provides his high level remarks, Tarek will be referencing the slides in our earnings presentation throughout his prepared remarks. As mentioned, the earnings presentation can be found posted to our website and it is also embedded within the webcast player for this earnings call.

With that, let me turn the call over to Antonio.

Antonio Neri

Thanks, Andy. Good afternoon, everyone, thank you for joining us. In Q3, we continue to demonstrate disciplined execution, which expand the profitability across the Company. In a more uneven market, we improved both gross and operating margins, delivered a strong non-GAAP earnings per share and generated a record level of year-to-date free cash flow. These results reflect our momentum as we take deliberate steps to shift our portfolio to higher value, software-defined offerings delivered as a service. This quarter, we