Hewlett Packard Enterprise Stock Soars on Strong AI Demand

Hewlett Packard stock is higher Wednesday after artificial intelligence tailwinds helped boost the tech giant's quarterly results. Here's what you need to know.

Hewlett Packard Enterprise logo on PC screen with blue background
(Image credit: Igor Golovniov/SOPA Images/LightRocket via Getty Images)

Hewlett Packard Enterprise (HPE) stock jumped nearly 15% out of the gate Wednesday after the technology company beat top- and bottom-line expectations for its fiscal second quarter and issued a strong outlook thanks to solid demand for its artificial intelligence (AI) servers.

In the three months ended April 30, HPE's revenue increased 3% year-over-year to $7.2 billion, driven by an an 18% jump in its server segment to $3.9 billion. The company said earnings per share (EPS) declined 19% from the year-ago period to 42 cents.

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Joey Solitro

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.