Hewlett Packard Enterprise Co (NYSE:HPE) stock rose 9.15% (As on December 6, 11:07:30 AM UTC-4, Source: Google Finance) after the company delivered solid fourth-quarter financial results today, beating Wall Street’s expectations on both earnings and revenue. Overall profit rose to $1.37 billion in the quarter, up from just $512 million in the same period one year ago.

Moreover, Server revenue was $4.7 billion, up 32% from the prior-year period in actual dollars and up 31% in constant currency, with 11.6% operating profit margin, compared to 10.1% from the prior-year period. Intelligent Edge revenue was $1.1 billion, down 20% from the prior-year period in actual dollars and in constant currency, with 24.4% operating profit margin, compared to 27.1% in the prior-year period. Hybrid Cloud revenue was $1.6 billion, up 18% from the prior-year period in actual dollars and in constant currency with 7.7% operating profit margin, compared to 3.8% from the prior-year period. Financial Services revenue was $893 million, up 2% from the prior-year period in actual dollars and in constant currency, with 9.2% operating profit margin, compared to 8.0% from the prior-year period. Net portfolio assets of $13.6 billion, up 4% from the prior-year period in actual dollars and in constant currency. The business delivered return on equity of 17.0%, up 3.4 points from the prior-year period.

HPE in the fourth quarter of FY 24 has reported the adjusted earnings per share of 58 cents, beating the analysts’ estimates for the adjusted earnings per share of 56 cents. The company had reported the adjusted revenue growth of 15 percent to $8.46 billion in the fourth quarter of FY 24, beating the analysts’ estimates for revenue of $8.25 billion. Non-GAAP gross margin was of 30.9%, down 390 basis points from the prior-year period and down 90 basis points sequentially. Cash flow from operations generated was $2.0 billion, a decrease of $813 million from the prior-year period. Free cash flow generated was $1.5 billion, a decrease of $821 million from the prior-year period.

Looking to the next quarter, HPE said it’s looking for earnings of between 47 and 52 cents per share, the midpoint roughly in line with Wall Street’s forecast of 49 cents per share. HPE estimates revenue to grow by mid-teens percent when compared to revenue for the prior-year period.

Meanwhile, HPE’s pending acquisition of Juniper Networks, Inc. has received approval from key jurisdictions including the European Union, United Kingdom, India, South Korea, and Australia, among others. HPE and Juniper expect that the transaction will close in the early part of 2025, within the previously stated timeframe.