Hewlett Packard Enterprise, a US-based technology company focused on servers, networking, and cloud infrastructure, rose nearly 29% in premarket trading on June 2.

The surge came after the company raised its fiscal 2026 outlook and moved up its long-term financial targets by two years, citing stronger demand for AI infrastructure.

The company increased its fiscal 2026 revenue growth forecast to 29% to 33% from 17% to 22%.

It also raised adjusted earnings per share guidance to US$2.30 to US$2.50 from US$2.25 to US$2.45.

In addition, it lifted its networking segment growth outlook to 72% to 75% from 68% to 73%.

The stronger outlook follows an AI backlog that exceeded US$5 billion in the first quarter, with enterprise and sovereign customers accounting for 64% of cumulative orders.

HPE said its revised fiscal 2026 ranges for adjusted earnings per share and free cash flow were higher than what it had previously projected to achieve by fiscal 2028.

🔗 Source: Reuters

Recent Hewlett Packard Enterprise developments