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René Bennett | (TNS) Bankrate.com If you’re an iPhone user, you might not realize that you already have access to Apple Cash. It’s a digital cash card that’s built into Apple devices and can be found in the default Wallet app. (Note: You must link an eligible debit card to use this service.) The main function of Apple Cash is to make it easier for Apple device users to send money to one another, including sending money through the iMessage app. But Apple Cash is more than just a peer-to-peer (P2P) payment service — it can be used to shop online, in stores or to make in-app purchases. Apple Cash is a convenient way to transfer money between friends and family. Once it’s set up, a user can simply open the iMessage app and send money to a contact through their chat. It’s also useful for those who use Apple Pay, a separate service that allows Apple device users to make contactless payments with any linked card, including an Apple Cash card. Here are some important things to know about setting up and using Apple Cash. Apple Cash is a digital cash card that’s stored in the Wallet app of Apple devices, and it can be used for making P2P payments, as well as purchases through Apple Pay. When you receive money from another Apple Cash user, that money appears in your Apple Cash balance. The balance can then be spent or transferred to a linked bank account or debit card. Sending money to peers with Apple Cash can be done either directly from the digital Apple Cash card (in the Wallet app) or through the iMessage app. You can send or receive anywhere between $1 and $10,000 per message. The money shows up on the recipient’s Apple Cash card instantly, but it may take from one to three days for the balance to be transferred to a bank account. Instant transfers to a bank account are possible, but it comes with a 1.5% fee. There’s also an option to set up Apple Cash Family for children who are under 18 years old. This option limits the amount a child can send to $2,000 per message. Those younger than 18 also cannot add money to their Apple Cash card from a bank account; rather, their balance only grows when they receive money from another Apple Cash user. Apple Cash is a digital card within your Wallet that allows you to spend your Apple Cash online, in stores and in apps as well send and receive money. Apple Pay, however, allows you to make purchases using any credit card or debit card you have stored in your Wallet — including Apple Cash. With Apple Pay, you add credit and debit cards to your Wallet and then have the ability to pay right with your phone (or other Apple product). To set up Apple Cash, you’ll need three things: —A compatible Apple device. —Two-factor authentication enabled for your Apple ID (this can be done in Settings). —An eligible debit card to load funds onto the Apple Cash card. In the Settings app, you can turn on Apple Cash in the Wallet and Apple Pay section. Tap on the Apple Cash card icon and follow the instructions on the screen. You’ll be asked to agree to the terms and conditions, after which your device will set up Apple Cash for you. The Apple Cash card, once set up, can be found in your device’s Wallet app. If you want to set up Apple Cash Family, you’ll first need to have Family Sharing turned on, which can be done in Settings. The family organizer can add children to Apple Cash in the Family Sharing section of Settings. You’ll need to have a debit card linked to your digital Wallet to add money to an Apple Cash card. You can add a debit card to Wallet in the same place where you set up Apple Cash — the Wallet and Apple Pay section of Settings. Once a debit card is linked to your Wallet, open Wallet and tap on the Apple Cash card. Then, tap the More button (an icon with three dots). This will open a page where you can see your Apple Cash balance, add money and transfer funds to a bank account. Tap Add Money and enter the amount you’d like to add (the minimum is $10). You’ll be asked to confirm which debit card you want to use to fund the Apple Cash balance, and then the money is added to the Apple Cash card. There are two ways to send a payment to someone using Apple Cash: directly from your Wallet or in the iMessage app. Both the sender and recipient need Apple Cash to send or receive money. To send money from Wallet, simply tap the Apple Cash card in Wallet and then tap Send. Type in the contact name or phone number of the recipient. Enter the amount you’d like to send (between $1 and $10,000), then review the payment and confirm it with Face ID, Touch ID or a passcode. In iMessage, open the conversation with who you’d like to send money to, or start a new one. Tap on the app button, which appears next to the type bar, and then tap on the Apple Cash icon. You’ll be prompted to enter an amount (between $1 and $10,000). Once you’ve reviewed the amount, tap Send and confirm with Face ID, Touch ID or a passcode. The first time money is sent to someone, the recipient will need to accept the payment within seven days for it to go through. After the first instance, payments are automatically accepted. If you’re using Apple Cash to make a purchase either online or in a store, you’ll need to pay using Apple Pay. To request money from your iPhone, open the conversation in the Messages app. Tap the plus icon, followed by Apple Cash. Then, tap Request. Tap the send button to send your payment request. Once the request is sent, the person you sent it to can confirm or change the amount they send to you. You can also request money from your Apple watch. Open your messages app, choose a conversation, tap the plus icon and then choose Apple Cash. Once you enter the amount you are requesting, swipe left on the Send button. Tap Request. As you start to accumulate money on the Apple Cash card, you may want to move it to a debit card or a bank account . This can be done by going to the same place where you added funds to the card, by clicking the icon with three dots next to your digital card. Related Articles Slash your bills with a phone call: 7 pro negotiating tips 3 ways to earn an extra $500 for the holidays What’s new for Medicare in 2025? Homeownership is getting unaffordable for the middle class Home sellers and buyers: What you must know for 2025 Enter an amount to be transferred, then tap Next. You’ll be asked whether you want to do an instant transfer (for a 1.5% fee) or a transfer in one to three business days for free. After making a selection, the screen will instruct you to set up a bank account if you don’t already have one set up. You’ll confirm the payment, and the transfer is initiated. Instant transfers can only be made to an eligible debit card, not a bank account. Money is sent within 30 minutes when you select instant transfer. —Zelle: If your bank is offers Zelle, it might be a good idea to take advantage of the P2P payment service. Zelle can be accessed directly from your bank’s mobile app, and it allows you to send instant transfers at no extra cost. —Venmo: Anyone can use Venmo, as long as they’ve downloaded the app. Unlike Apple Cash or Zelle, it’s a standalone P2P payment app. Venmo comes with a social element — users can follow each other and add fun emojis to their payments, although they can also keep their account activity private. —PayPal: This P2P payment service is a good option if you want to send money internationally. It also offers a PayPal Debit card, which, like the Apple Cash card, can be used to make purchases online or in stores. —Samsung Pay Cash: Samsung device users can use this option instead of Apple Cash. Similar to Apple Cash, it is a digital wallet that you can access from a Samsung mobile device. However, to take full advantage of Samsung Pay Cash, users will need to undergo an extra registration process to upgrade to a Full Card Account. Apple Cash makes it easy for Apple device users to send money to each other. Users can simply tap the Apple Cash icon in their text messages to send money through iMessage. It can also be used as an extra repository for spending money and can be used for purchases anywhere Apple Pay is accepted. With that said, only Apple device users can send and receive money using Apple Cash, so those looking for a more universal payment service may want to consider other P2P payment apps . ©2024 Bankrate.com. Distributed by Tribune Content Agency, LLC.Barrister cleared of misconduct calls on head of Bar Standards Board to resign
A 22-year-old Indian-origin student from Telangana's Khammam district was shot dead by unknown assailants at a gas station near Chicago, United States, where he was working, PTI reported citing family members. The deceased, Sai Teja Nukarapu, was shot dead in the early hours of Saturday (IST), Bharat Rashtra Samithi (BRS) leader Madhusudan Thatha said citing initial information received from the States. Thatha, who called on Nukarapu's family at their Khammam residence, said that the victim was not on duty at the time of the incident. He was rather helping a friend who had asked him to stay on for a while as the latter had gone out on some work. The 22-year-old was working at a cash counter in a shopping mall, an India Today report said. With a BBA degree from India, Nukarapu was pursuing MBA (Master of Business Administration) degree in the US . He had reportedly gone to America just three months ago. ALSO READ | Andhra, Telangana accounted for 56% of US student visa beneficiaries from India in 2023: Report One of his relatives told reporters that he was only doing a part-time job. It is sad to know that Sai Teja was shot dead when he stayed on at the place of work to help a friend, the relative added. Meanwhile, MLC Thatha said he spoke to the Telugu Association of North America (TANA) for help in this regard. Nukarapu's mortal remains are likely to reach India next week. This incident comes just a week after a 23-year-old Indian student, Aryan Reddy, also from Telangana, died when he accidentally misfired a hunting gun during his birthday celebration in Georgia's Atlanta. ALSO READ | Indian student in US accidentally shoots himself during birthday celebration Reddy hailed from the Sairam Nagar area and had reportedly acquired a hunting gun license in the US just recently. He was a Master of Science student at the Kansas State University. Notably, a recent report from the US Consulate General revealed that students from Andhra Pradesh and Telangana accounted for 56 per cent of all the Indian student visas issued by the US in 2023. The report showed that students from these states mostly opted for master's degrees in the 'STEM' disciplines - Science, Technology, Engineering and Mathematics. According to the latest Open Doors Report on International Educational Exchange, India has sent more students to the US than any other country for the first time since 2009, with more 331,600 students pursuing higher education in American institutions during 2023-24, a 23 per cent increase over the previous year. ( with PTI inputs)A role reversal doomed the No. 22 Xavier Musketeers in their only loss of the season, against Michigan at the Fort Myers Tip-Off on Wednesday. Normally a team that avoids committing turnovers and pressures its opponent into making them, Xavier (6-1) will try to recapture its early-season winning form when it hosts South Carolina State on Sunday in Cincinnati. Through their six wins, the Musketeers had just 58 turnovers while forcing 82 by their opponents. But against the Wolverines, they lost the turnover battle 19-10 and the game 78-53. The Musketeers committed 14 turnovers in the first half and fell behind 41-30. Xavier head coach Sean Miller credited his team for typically playing an up-tempo style while avoiding mistakes, while also acknowledging that the turnover bug really bit them against the Wolverines. "We lost to a really good team; no shame in that," Miller said. "We, on top of that, didn't play well." "And that (avoiding turnovers) is something you (usually) do well? That's going to be hard to overcome against a quality team like Michigan." Leading scorer Ryan Conwell (17.6 points per game) gave the Musketeers a boost with 19 points. Zach Freemantle, second on the team at 15.4 ppg, added 14 points and 10 rebounds. Problematically, however, they also contributed to the turnover problem with three apiece. "We didn't play well enough to win the game," Miller said. "The game got out of hand. It's not like our guys quit. Their depth just continued to wear on us." The Musketeers also get 11 points and a team-high 4.4 assists per game from Dayvion McKnight. The guard had just one turnover against Michigan, but he also made just one of his eight shot attempts. Xavier may have an opportunity get right in the turnover area against the Bulldogs (4-4), who are No. 207 in the NCAA in assist-to-turnover ratio at 1.11. South Carolina State is fresh off an 82-53 road loss to Marshall on Wednesday, in a game in which turnovers weren't a huge problem. But assists and made shots were hard to come by for the Bulldogs. Leading scorer Drayton Jones (12.0 ppg) again paced his team in points with 10 vs. Marshall, but the Bulldogs as a team managed just six assists and shot terribly at the 3-point (18.8 percent) and the free-throw (47.1 percent) lines. Jones is also the team's leading rebounder with 5.1 a game, but no Bulldogs player is averaging more than two assists. It's all part of the learning process for coach Erik Martin, whose first team went 5-26 in 2022-23. The Bulldogs improved to 14-18 last season, including 9-5 in the Mid-Eastern Athletic Conference. "The only way you can grow sometimes is by failure or by struggling," Martin said this offseason. "You have to fail in order to learn how to deal with failure and move on and become the person you're supposed to be." --Field Level Media
New Delhi: While over 2.5 million people are living with HIV in India, the country has made notable progress, and outperformed the global reduction rate, said the Ministry of Health and Family Welfare on Saturday, ahead of World AIDS Day. World AIDS Day has been observed annually on December 1 since 1988, to raise awareness about HIV (Human Immunodeficiency Virus) /AIDS (Acquired Immune Deficiency Syndrome) and to fight the stigma attached to the disease. According to the India HIV Estimations 2023 report, more than 2.5 million people are living with HIV in India. However, the country has seen a 44 per cent reduction since 2010 — with adult HIV prevalence recorded at 0.2 per cent and annual new HIV infections estimated at 66,400, the ministry said. “India has outperformed the global reduction rate of 39 per cent, demonstrating the success of sustained interventions. The availability of free high-quality lifelong treatment for over 16.06 lakh people living with HIV (PLHIV) through 725 ART (Antiretroviral Therapy) centers (as of June 2023) and 12.30 lakh viral load tests conducted between 2022–2023 reflect India’s commitment to ensuring care for affected populations,” the ministry said. “World AIDS Day 2024 serves as a reminder of the work that remains to be done to eliminate HIV/AIDS. Through the NACP Phase-V and its rights-based approach, India has made significant progress in prevention, treatment, and care,” it added. The National AIDS and STD Control Programme (NACP) was launched in 1992 to tackle the disease in the country. The Global AIDS Update 2023 released by The Joint United Nations Programme on HIV/AIDS (UNAIDS), also acknowledged the significant strides made by India in combating HIV/AIDS. It also lauded India for “robust legal framework and financial investments which led to a decline in new HIV cases in India”. These have also facilitated the country’s progress toward the goal of ending AIDS as a public health threat by 2030, said the report, while acknowledging India “for strengthening laws to protect the rights of vulnerable populations”. The theme this year “Take the Rights Path: My Health, My Right!” encapsulates the collective mission to foster inclusivity, uphold human rights, and ensure equitable healthcare access. The ministry noted the importance of collaboration, the need to address structural challenges, and scaling up successful interventions, to lead the global fight against HIV/AIDS.
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TORONTO — Darko Rajakovic cut straight to the chase in his pre-game news conference: yes, Scottie Barnes is back. Barnes was inserted into the Toronto Raptors starting lineup ahead of Thursday's game against the Minnesota Timberwolves at Scotiabank Arena. He had been out since Oct. 28 with a fractured right orbital bone. "I don't want Scottie Barnes to be anything outside of Scottie Barnes," said Rajakovic in his pre-game news conference. "I just need him to be best version of himself and when he's that, he's really raising the people around him to another level. "He's making everybody around him better." Barnes was injured in the fourth quarter of Toronto's 127-125 overtime loss to the Nuggets on Oct. 28 when he caught an errant elbow from Denver centre Nikola Jokic. Barnes was expected to be out at least three weeks with the injury but came back slightly ahead of schedule. The 23-year-old all-star forward was averaging 19.2 points, 7.8 rebounds and six assists per game before he was hurt. Rajakovic said Barnes would play limited minutes and that he'd have to wear protective goggles. Rajakovic was coy when asked who would be moved to Toronto's bench to make space for Barnes. "Scottie will start. Who knows who won’t," laughed Rajakovic. Rookie combo guard Ja'kobe Walter was also made available for the Raptors. He had missed Toronto's last six games with a sprained right shoulder. This report by The Canadian Press was first published Nov. 21, 2024. John Chidley-Hill, The Canadian PressSAN FRANCISCO, Dec. 05, 2024 (GLOBE NEWSWIRE) -- HashiCorp, Inc. (NASDAQ: HCP), The Infrastructure CloudTM company, today announced financial results for its third quarter of fiscal 2025, ended October 31, 2024. “The HashiCorp team delivered strong performance during the third quarter of fiscal 2025, with revenue growth of 19% year-over-year, and 8% growth in $100,000 customers year-over-year” said Dave McJannet, CEO, HashiCorp. “This quarter we gathered our community of customers, practitioners, and partners at HashiConf in Boston, where we announced critical updates across Infrastructure and Security Lifecycle Management product lines, and also continued work towards closing the company's transaction with IBM.” "HashiCorp continued to see promising growth in adoption of the HashiCorp Cloud Platform, with cloud revenues exceeding 17% of total subscription revenue this quarter" said Werner Schwock, Interim CFO & CAO. "New HashiCorp Cloud Platform features announced this quarter will continue to support our Infrastructure Cloud vision.” Proposed Merger with International Business Machines ("IBM") As announced on April 24, 2024, HashiCorp and IBM have entered into a merger agreement under which IBM will acquire HashiCorp for $35.00 per share in cash, representing an enterprise value of $6.4 billion. HashiCorp stockholders approved the merger agreement on July 15, 2024. The transaction is expected to be completed in the first calendar quarter of 2025, subject to the satisfaction or waiver of the closing conditions in the merger agreement. In light of the proposed transaction with IBM, HashiCorp will not be holding a conference call to discuss financial results or providing financial guidance in conjunction with its third quarter of fiscal 2025 earnings release. Fiscal 2025 Third Quarter Financial Results Revenue: Total revenue was $173.4 million in the third quarter of fiscal 2025, up 19% from $146.1 million in the same period last year. Gross Profit: GAAP gross profit was $143.6 million in the third quarter of fiscal 2025, representing an 83% gross margin, compared to a GAAP gross profit of $120.5 million and an 82% gross margin in the same period last year. Non-GAAP gross profit was $148.4 million in the third quarter of fiscal 2025, representing an 86% non-GAAP gross margin, compared to a non-GAAP gross profit of $125.4 million and an 86% non-GAAP gross margin in the same period last year. Operating Income (Loss): GAAP operating loss was $29.9 million in the third quarter of fiscal 2025, compared to GAAP operating loss of $55.6 million in the same period last year. Non-GAAP operating income was $11.0 million in the third quarter of fiscal 2025, compared to a non-GAAP operating loss of $10.5 million in the same period last year. Net Income (Loss): GAAP net loss was $13.0 million in the third quarter of fiscal 2025, compared to a GAAP net loss of $39.5 million in the same period last year. Non-GAAP net income was $26.9 million in the third quarter of fiscal 2025, compared to a non-GAAP net income of $5.6 million in the same period last year. Net Income (Loss) per Share: GAAP basic and diluted net loss per share was $0.06, based on 203.5 million weighted-average shares outstanding in the third quarter of fiscal 2025, compared to a GAAP net loss per share of $0.20 based on 194.6 million weighted-average shares outstanding in the same period last year. Non-GAAP basic and dilutive net income per share were both $0.13, based on 203.5 million and 211.7 million weighted-average shares outstanding, respectively, in the third quarter of fiscal 2025, compared to a non-GAAP basic and diluted net income per share of $0.03 in the same period last year. Remaining Performance Obligation (RPO): Total RPO was $775.4 million at the end of the third quarter of fiscal 2025, up from $678.2 million in the same period last year. The current portion of GAAP RPO was $481.4 million at the end of the third quarter of fiscal 2025, up from $402.1 million at the end of the same period last year. Total non-GAAP RPO was $795.6 million at the end of the third quarter of fiscal 2025, up from $700.4 million at the end of the same period last year. The current portion of non-GAAP RPO was $499.4 million at the end of the third quarter of fiscal 2025, up from $420.8 million at the end of the same period last year. Cash, cash equivalents, and investments: Net cash provided by operating activities was $38.2 million in the third quarter of fiscal 2025, compared to $8.7 million provided by operating activities in the same period last year. Cash, cash equivalents and short-term investments totaled $1,346.4 million at the end of the third quarter of fiscal 2025, compared to $1,255.7 million at the end of the same period last year. Reconciliations of GAAP financial measures to the most comparable non-GAAP financial measures have been provided in the tables included in this release. Fiscal 2025 Third Quarter and Recent Operating Highlights About HashiCorp, Inc. HashiCorp is The Infrastructure CloudTM company, helping organizations automate multi-cloud and hybrid environments with Infrastructure Lifecycle Management and Security Lifecycle Management. HashiCorp offers The Infrastructure Cloud on the HashiCorp Cloud Platform (HCP) for managed cloud services, as well as self-hosted enterprise offerings and community source-available products. The company is headquartered in San Francisco, California. For more information, visit hashicorp.com . All product and company names are trademarks or registered trademarks of their respective holders. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Act of 1995, as amended, including, among others, statements about HashiCorp’s business strategy, go-to-market initiatives, revenue growth, and long-term opportunity related to HashiCorp’s product innovation, and the proposed merger with IBM. In some cases you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “likely,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from current expectations and beliefs, including but not limited to risks and uncertainties related to market conditions, HashiCorp and its business as set forth in our filings with the Securities and Exchange Commission (“SEC”) pursuant to our Annual Report on Form 10-K dated March 20, 2024, Quarterly Report on Form 10-Q dated December 5, 2024, and our future reports that we may file from time to time with the SEC. These documents contain and identify important factors that could cause the actual results for HashiCorp to differ materially from those contained in HashiCorp’s forward-looking statements. Any forward-looking statements contained in this press release speak only as of the date hereof, and HashiCorp specifically disclaims any obligation to update any forward-looking statement, except as required by law. Use of Non-GAAP Financial Measures In addition to our results determined in accordance with GAAP, we have disclosed non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss, non-GAAP net loss, non-GAAP net loss per share, non-GAAP free cash flow and total and current non-GAAP RPOs, which are all non-GAAP financial measures. We have provided tabular reconciliations of each non-GAAP financial measure to its most directly comparable GAAP financial measure at the end of this release. We calculate non-GAAP gross profit as GAAP gross profit before amortization of stock-based compensation included in the amortized expenses of capitalized internal-use software, stock-based compensation expense, and amortization of acquired intangibles included in cost of revenue. We calculate non-GAAP gross margin as GAAP gross margin before the impact of stock-based compensation of capitalized internal-use software, stock-based compensation expense and amortization of acquired intangibles included in cost of revenue as a percentage of revenue. We calculate non-GAAP operating loss as GAAP operating loss before amortization of stock-based compensation of capitalized internal-use software, stock-based compensation expense, amortization of acquired intangibles, and merger and acquisition-related expenses. We calculate non-GAAP net income (loss) as GAAP net loss before amortization of stock-based compensation of capitalized internal-use software, stock-based compensation expense, amortization of acquired intangibles, and merger and acquisition-related expenses, which comprise one-time costs associated with advisory, legal, and other professional fees, net of tax adjustments. We calculate non-GAAP net income (loss) per share as non-GAAP net income (loss) divided by weighted average shares outstanding (basic and diluted). We calculate non-GAAP free cash flow as net cash provided by (used in) operating activities less purchases of property and equipment and capitalized internal-use software costs. Non-GAAP free cash flow as a % of revenue is calculated as non-GAAP free cash flow divided by total revenue. We calculate non-GAAP RPOs as RPOs plus customer deposits, which are refundable pre-paid amounts, based on the timing of when these customer deposits are expected to be recognized as revenue in future periods. The current portion of non-GAAP RPO represents the amount to be recognized as revenue over the next 12 months. Our management team uses these non-GAAP financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating our ongoing operational performance. We believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-GAAP financial measures to investors. Non-GAAP financial measures have limitations as an analytical tool and should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. In particular, other companies may report non-GAAP gross profit, non-GAAP gross margin, non-GAAP loss from operations, non-GAAP net income (loss), non-GAAP net income (loss) per share, non-GAAP free cash flow, non-GAAP RPOs or similarly titled measures but calculate them differently, which reduces their usefulness as comparative measures. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures, as presented below. This earnings press release and any future releases containing such non-GAAP reconciliations can also be found on the Investor Relations page of our website at https://ir.hashicorp.com . (1) The adjustments relate to the tax impact of stock-based compensation expense and amortization of acquired intangibles. (1) For the reconciliation of GAAP to non-GAAP for the historical periods presented, refer to our prior earning releases. (2) Amount is less than 1%. (1) For the reconciliation of GAAP to non-GAAP for the historical periods presented, refer to our prior earning releases. Investor Contact HashiCorp ir@hashicorp.com Media Contact Kate Lehman HashiCorp media@hashicorp.comIn a world of infinite AI, the new luxury item could well be humans
Five fire trucks descended on the west Auckland coastal settlement of Piha on Thursday night, after a blaze at the local RSA. In a post on social media, RSA Piha said its building had suffered "a devastating fire" that gutted the outside area next to it. The RSA building - a social hub for the local community and visitors alike - was itself saved, however. "A huge thank you to the Piha crew and other appliances that arrived so quickly and managed to contain the blaze." The building would be closed "for the immediate future", it said. A Fire and Emergency spokesperson said it received many calls about a building on fire just before midnight, and local volunteers were on the scene within 10 minutes. Five fire trucks, a ladder truck, two support vehicles and a command unit were sent to the fire, where firefighters found a building burning. The fire was extinguished, with the last crew leaving about 3.30am on Friday, the FENZ spokesperson said. Piha Campground kaitiaki Fiona Anderson said the fire was believed to have started in the RSA's "smoking room". The RSA is situated just across the river from the campsite, and Anderson said people noticed a "glow that didn't look quite right" coming from the smoking room just before midnight and called the fire brigade. The blaze was "very well involved" by the time they arrived, she said. The RSA was already closed when the fire was spotted, as they normally shut at 11pm on a Thursday, she added. FENZ said fire investigators would be on site today. Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
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Spain shares higher at close of trade; IBEX 35 up 0.39%iOS 18.2 is now available to everyone , and the update is headlined by major new Apple Intelligence features. While those Apple Intelligence features are garnering most of the attention, there are other notable features now available on your iPhone. Which iPhones get iOS 18.2? iOS 18.2 is available to all iPhones capable of running iOS 18. Apple Intelligence features, of course, are still limited to iPhone 15 Pro, iPhone 15 Pro Max, and all iPhone 16 models. iPhone XR iPhone XS and XS Max iPhone 11 iPhone 11 Pro and 11 Pro Max iPhone 12 and 12 mini iPhone 12 Pro and 12 Pro Max iPhone 13 and 13 mini iPhone 13 Pro and 13 Pro Max iPhone 14 and 14 Plus iPhone 14 Pro and 14 Pro Max iPhone 15 and 15 Plus iPhone 15 Pro and 15 Pro Max iPhone 16 and 16 Plus iPhone 16 Pro and 16 Pro Max iPhone SE (2nd gen) iPhone SE (3rd gen) New features in iOS 18.2 (other than AI) There are three changes for the Camera Control on the iPhone 16 coming with iOS 18.2: Two-stage shutter: Automatically lock the focus and exposure on a subject with a light press. A full press will then take the actual image. Double-click speed: Adjust the speed of the Camera Control double-click in Settings > Accessibility > Camera Control. You can choose from Default, Slow, and Slower. Require Screen On: A single press of the Camera Control will automatically open the Camera app regardless of whether or not your iPhone 16’s screen is on, adjustable in the Settings app . iOS 18.2 brings big changes to the Mail app, including a new on-device categorization system that sorts your emails into four different categories: Primary: Personal and time-sensitive emails Transactions: Confirmations and receipts Updates: News and social media notifications Promotions: Marketing emails and coupons There are other changes in the Mail app in iOS 18.2. The update brings a new “digest view” that shows all emails from a specific business. You can also opt to show notification badges only for unread messages in the “Primary” category. In the Find My app, you can now share the location of a misplaced AirTag by generating a link, enabling someone else to help you locate it. That link can be shared with others to help you find the lost item. Using the link, people can access a website displaying the item’s location on an interactive map. The website automatically updates with new locations and includes timestamps for the most recent updates. Apple has also announced it is teaming up with more than 15 airlines to implement systems to accept location links to help locate lost luggage. In iOS 18.2, the Settings app introduces a new “Volume Limit” control for the iPhone’s built-in speaker. This feature allows you to set a maximum volume limit for playing audio content like songs, movies, and other media. To access this option, navigate to the Settings app and go to “Sounds and Haptics.” iOS 18.2 lets you permanently add the volume slider back to your iPhone’s Lock Screen. This comes after iOS 16 removed the volume slider from the Lock Screen except while using AirPlay. Here’s how to find this new setting: Open the Settings app Tap “Accessibility” Choose “Audio and Visual” Toggle on or off the “Always Show Volume Control” option For iPhone 16 Pro users, iOS 18.2 introduces a more powerful Voice Memos experience. This feature enables you to layer multiple tracks on top of each other, allowing for greater flexibility in recording and editing. Additionally, you have the option to separate these layers after they’ve been recorded. In iOS 18.2, tapping on a video within the Photos app no longer results in zooming in or out. Instead, both the video scrubber and the gallery view at the bottom remain visible. Here are other changes to the Photos app: Video viewing improvements, including the ability to scrub frame-by-frame and a setting to turn off auto-looping video playback Improvements when navigating Collections views, including the ability to swipe right to go back to the previous view Recently Viewed and Recently Shared album history can be cleared Favorites album appears in the Utilities collection in addition to Pinned Collections Voice Memos supports layered recording, letting you add vocals over an existing song idea without the need for headphones – then import your two-track projects directly into Logic Pro (iPhone 16 Pro, iPhone 16 Pro Max) Apple says that iOS 18.2 includes the previously-announced changes to the browser choice screen for iPhone users in the EU. The update also makes the App Store, Messages, Camera, Photos, and Safari apps deletable. iOS 18.2 lets users set default apps for Messaging and Calling worldwide. This is managed through a new “Defaults” menu in the Settings app. iOS 18.2 adds a new “Type to Siri” widget for Control Center. In Settings > Apps > Safari there is a new option to import or export browsing history and website data. In the Podcasts app, you can now mark specific categories as favorites. You can now use iPhone Mirroring while using your iPhone as a hotspot for your Mac. There are new Shortcuts actions for the Fitness app. Sudoku for News+ Puzzles provided in three difficulty levels and available for News+ subscribers Natural language search in Apple Music and Apple TV app lets you describe what you’re looking for using any combination of categories like genres, moods, actors, decades, and more Wrap up What are your favorite iOS 18.2 features? Let us know down in the comments. My favorite iPhone 16 accessories: Anker Power Bank with built-in USB-C Cable Twelve South HiRise 3 Deluxe Carlinkit Wireless CarPlay Adapter Anker MagSafe Power Bank
HOUSTON--(BUSINESS WIRE)--Dec 5, 2024-- Hewlett Packard Enterprise (NYSE: HPE) today announced financial results for the fourth quarter ended October 31, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241205728686/en/ “HPE delivered an exceptional fourth quarter with record quarterly revenue, capping off a strong FY 2024. We exceeded our full-year commitments for revenue, EPS, and free cash flow,” said Antonio Neri, president and CEO of Hewlett Packard Enterprise. “Our differentiated portfolio across hybrid cloud, AI, and networking, which will be further enhanced with the pending Juniper Networks acquisition, positions us well to capitalize on the market opportunity, accelerating value for our shareholders.” “Our exceptional revenue, profitability, and higher-than-expected free cash flow this fiscal year reflect disciplined execution and improving customer demand across our portfolio,” said Marie Myers, executive vice president and CFO of Hewlett Packard Enterprise. “We are pleased to have exceeded our commitments and look forward to the opportunities ahead in fiscal year 2025.” Fourth Quarter Fiscal 2024 Financial Results Fourth Quarter Fiscal 2024 Segment Results Dividend The HPE Board of Directors declared a regular cash dividend of $0.13 per share on the company’s common stock, payable on January 16, 2025, to stockholders of record as of the close of business on December 20, 2024. Fiscal 2025 First Quarter Outlook HPE estimates revenue to grow by mid-teens percent when compared to revenue for the prior-year period. HPE estimates GAAP diluted net EPS to be in the range of $0.31 to $0.36 and non-GAAP diluted net EPS (1) to be in the range of $0.47 to $0.52. Fiscal 2025 first quarter non-GAAP diluted net EPS excludes net after-tax adjustments of $0.16 per diluted share primarily related to stock-based compensation, acquisition, disposition and other related charges and amortization of intangible assets. Juniper Networks Pending Transaction Update 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 Networks are cooperatively engaged with the U.S. Department of Justice as the agency continues to review the transaction into the new calendar year. HPE and Juniper expect that the transaction will close in the early part of 2025 — within the previously stated timeframe. 1 A description of HPE’s use of non-GAAP financial information is provided below under “Use of non-GAAP financial information and key performance metrics.” 2 Annualized Revenue Run-Rate (“ARR”) is a financial metric used to assess the growth of the Consumption Services offerings. ARR represents the annualized revenue of all net HPE GreenLake cloud services revenue, related financial services revenue (which includes rental income from operating leases and interest income from finance leases), and software-as-a-Service, software consumption revenue, and other as-a-Service offerings, recognized during a quarter and multiplied by four. We use ARR as a performance metric. ARR should be viewed independently of net revenue and is not intended to be combined with it. 3 Free cash flow represents cash flow from operations, less net capital expenditures (investments in property, plant & equipment (“PP&E”) and software assets less proceeds from the sale of PP&E), and adjusted for the effect of exchange rate fluctuations on cash, cash equivalents, and restricted cash. About Hewlett Packard Enterprise Hewlett Packard Enterprise (NYSE: HPE) is the global edge-to-cloud company that helps organizations accelerate outcomes by unlocking value from all of their data, everywhere. Built on decades of reimagining the future and innovating to advance the way people live and work, HPE delivers unique, open and intelligent technology solutions as a service. With offerings spanning Cloud Services, Server, Intelligent Edge, Software, and Hybrid Cloud, HPE provides a consistent experience across all clouds and edges, helping customers develop new business models, engage in new ways, and increase operational performance. For more information, visit: www.hpe.com . Use of non-GAAP financial information and key performance metrics To supplement Hewlett Packard Enterprise’s condensed consolidated financial statement information presented on a generally accepted accounting principles (“GAAP”) basis, Hewlett Packard Enterprise provides financial measures, including revenue on a constant currency basis (including at the business segment level), non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP operating profit (non-GAAP earnings from operations), non-GAAP operating profit margin (non-GAAP earnings from operations as a percentage of net revenue), non-GAAP income tax rate, non-GAAP net earnings, non-GAAP diluted net earnings per share and free cash flow (“FCF”). Hewlett Packard Enterprise also provides forecasts of revenue growth on a constant currency basis, non-GAAP diluted net earnings per share, non-GAAP operating profit growth, and FCF. Reconciliations of each of these non-GAAP financial measures to their most directly comparable GAAP measures for this quarter and prior periods are included in the tables below or elsewhere in the materials accompanying this news release. In addition an explanation of the ways in which Hewlett Packard Enterprise’s management uses these non-GAAP measures to evaluate its business, the substance behind Hewlett Packard Enterprise’s decision to use these non-GAAP measures, the material limitations associated with the use of these non-GAAP measures, the manner in which Hewlett Packard Enterprise’s management compensates for those limitations, and the substantive reasons why Hewlett Packard Enterprise’s management believes that these non-GAAP measures provide supplemental useful information to investors is included further below. This additional non-GAAP financial information is not meant to be considered in isolation or as a substitute for revenue, gross profit, gross profit margin, operating profit (earnings from operations), operating profit margin (earnings from operations as a percentage of net revenue), net earnings, diluted net earnings per share, and cash flow from operations prepared in accordance with GAAP. In addition to the supplemental non-GAAP financial information, Hewlett Packard Enterprise also presents annualized revenue run-rate (“ARR”) as performance metric. ARR is a financial metric used to assess the growth of the Consumption Services offerings. ARR represents the annualized revenue of all net HPE GreenLake cloud services revenue, related financial services revenue (which includes rental income for operating leases and interest income from finance leases), and software-as-a-service (“SaaS”), software consumption revenue, and other as-a-service offerings, recognized during a quarter and multiplied by four. ARR should be viewed independently of net revenue and deferred revenue and are not intended to be combined with any of these items. Forward-looking statements This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties, and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of Hewlett Packard Enterprise and its consolidated subsidiaries (“Hewlett Packard Enterprise”) may differ materially from those expressed or implied by such forward-looking statements and assumptions. The words “believe”, “expect”, “anticipate”, "guide", “optimistic”, “intend”, “aim”, “will”, "estimates", “may”, “could”, “should” and similar expressions are intended to identify such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to any projections, estimations, or expectations of addressable markets and their sizes, revenue (including annualized revenue run rate), margins, expenses (including stock-based compensation expenses), investments, effective tax rates, interest rates, the impact of tax law changes and related guidance and regulations, net earnings, net earnings per share, cash flows, liquidity and capital resources, inventory, order backlog, share repurchases, currency exchange rates, repayments of debts (including our asset-backed debt securities), or other financial items; recent amendments to accounting guidance and any related potential impacts on our financial reporting; any projections or estimations of future orders, including as-a-service orders; any statements of the plans, strategies, and objectives of management for future operations, as well as the execution and consummation of corporate transactions or contemplated acquisitions (including our proposed acquisition of Juniper Networks, Inc.) and dispositions (including disposition of our H3C shares and the receipt of proceeds therefrom), research and development expenditures, and any resulting benefit, cost savings, charges, or revenue or profitability improvements; any statements concerning the expected development, performance, market share or competitive performance relating to products or services; any statements concerning technological and market trends, the pace of technological innovation, and adoption of new technologies, including artificial intelligence-related and other products and services offered by Hewlett Packard Enterprise; any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on Hewlett Packard Enterprise and our financial performance and our actions to mitigate such impacts to our business; any statements regarding future regulatory trends and the resulting legal and reputational exposure, including but not limited to those relating to environmental, social, and governance, cybersecurity, data privacy, and artificial intelligence issues, among others; any statements regarding pending investigations, claims, or disputes; any statements of expectation or belief, including those relating to future guidance and the financial performance of Hewlett Packard Enterprise; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties, and assumptions include the need to address the many challenges facing Hewlett Packard Enterprise’s businesses; the competitive pressures faced by Hewlett Packard Enterprise’s businesses; risks associated with executing Hewlett Packard Enterprise’s strategy; the impact of macroeconomic and geopolitical trends and events, including but not limited to heightened global trade restrictions, the use and development of artificial intelligence, the inflationary environment (though easing), the ongoing conflicts between Russia and Ukraine and in the Middle East, and the relationship between China and the U.S.; the need to effectively manage third-party suppliers and distribute Hewlett Packard Enterprise’s products and services; the protection of Hewlett Packard Enterprise’s intellectual property assets, including intellectual property licensed from third parties and intellectual property shared with its former parent; risks associated with Hewlett Packard Enterprise’s international operations (including from public health crises, such as pandemics or epidemics, and geopolitical events, such as those mentioned above); the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; the execution of Hewlett Packard Enterprise's transformation and mix shift of its portfolio of offerings, the execution and performance of contracts by Hewlett Packard Enterprise and its suppliers, customers, clients, and partners, including any impact thereon resulting from macroeconomic or geopolitical events such as those mentioned above; the prospect of a shutdown of the U.S. federal government; the hiring and retention of key employees; the execution, consummation, integration, and other risks associated with business combination, disposition, and investment transactions, including but not limited to the risks associated with the disposition of H3C shares and the receipt of proceeds therefrom and completion of our proposed acquisition of Juniper Networks, Inc. and our ability to integrate and implement our plans, forecasts, and other expectations with respect to the consolidated business; the impact of changes to privacy, cybersecurity, environmental, global trade, and other governmental regulations; changes in our product, lease, intellectual property, or real estate portfolio; the payment or non-payment of a dividend for any period; the efficacy of using non-GAAP, rather than GAAP, financial measures in business projections and planning; the judgments required in connection with determining revenue recognition; impact of company policies and related compliance; utility of segment realignments; allowances for recovery of receivables and warranty obligations; provisions for, and resolution of pending investigations, claims, and disputes; the impacts of tax law changes and related guidance or regulations; and other risks that are described in Hewlett Packard Enterprise’s Annual Report on Form 10-K for the fiscal year ended October 31, 2023, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and in other filings made by Hewlett Packard Enterprise from time to time with the Securities and Exchange Commission. As in prior periods, the financial information set forth in this press release, including tax-related items, reflects estimates based on information available at this time. While Hewlett Packard Enterprise believes these estimates to be reasonable, these amounts could differ materially from reported amounts in the filings made by Hewlett Packard Enterprise from time to time with the Securities and Exchange Commission. Hewlett Packard Enterprise assumes no obligation and does not intend to update these forward-looking statements, except as required by applicable law. HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Condensed Consolidated Statements of Earnings (Unaudited) For the three months ended October 31, 2024 July 31, 2024 October 31, 2023 In millions, except per share amounts Net revenue $ 8,458 $ 7,710 $ 7,351 Costs and Expenses: Cost of sales (exclusive of amortization shown separately below) 5,852 5,271 4,792 Research and development 527 547 578 Selling, general and administrative 1,211 1,229 1,332 Amortization of intangible assets 69 60 72 Transformation costs 26 14 56 Disaster charges (recovery) 2 5 (4 ) Acquisition, disposition and other related charges 78 37 18 Total costs and expenses 7,765 7,163 6,844 Earnings from operations 693 547 507 Interest and other, net (1) 5 (12 ) (23 ) Gain on sale of equity interest 733 — — (Loss) earnings from equity interests (14 ) 73 65 Earnings before provision for taxes 1,417 608 549 (Provision) benefit for taxes (51 ) (96 ) 93 Net earnings attributable to HPE 1,366 512 642 Preferred stock dividends (25 ) — — Net earnings attributable to common stockholders $ 1,341 $ 512 $ 642 Net Earnings Per Share Attributable to Common Stockholders: Basic $ 1.02 $ 0.39 $ 0.50 Diluted 0.99 0.38 0.49 Cash dividends declared per share 0.13 0.13 0.12 Cash dividends accrued per preferred share $ 0.83 $ — $ — Weighted-average Shares Used to Compute Net Earnings Per Share: Basic 1,312 1,312 1,295 Diluted 1,375 1,332 1,315 HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Condensed Consolidated Statements of Earnings Year Ended October 31, 2024 October 31, 2023 (Unaudited) (Audited) In millions, except per share amounts Net revenue $ 30,127 $ 29,135 Costs and Expenses: Cost of sales (exclusive of amortization shown separately below) 20,249 18,896 Research and development 2,246 2,349 Selling, general and administrative 4,871 5,160 Amortization of intangible assets 267 288 Transformation costs 93 283 Disaster charges 7 1 Acquisition, disposition and other related charges 204 69 Total costs and expenses 27,937 27,046 Earnings from operations 2,190 2,089 Interest and other, net (1) (117 ) (104 ) Gain on sale of equity interest 733 — Earnings from equity interests 147 245 Earnings before provision for taxes 2,953 2,230 Provision for taxes (374 ) (205 ) Net earnings attributable to HPE 2,579 2,025 Preferred stock dividends (25 ) — Net earnings attributable to common stockholders $ 2,554 $ 2,025 Net Earnings Per Share Per Share Attributable to Common Stockholders: Basic $ 1.95 $ 1.56 Diluted 1.93 1.54 Cash dividends declared per share 0.52 0.48 Cash dividends accrued per preferred share $ 0.83 $ — Weighted-average Shares Used to Compute Net Earnings Per Share: Basic 1,309 1,299 Diluted 1,337 1,316 HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Reconciliation of GAAP to Non-GAAP measures (Unaudited) For the three months ended October 31, 2024 July 31, 2024 October 31, 2023 Dollars in millions GAAP net revenue $ 8,458 $ 7,710 $ 7,351 GAAP cost of sales 5,852 5,271 4,792 GAAP gross profit 2,606 2,439 2,559 Non-GAAP Adjustments Stock-based compensation expense 10 9 9 Disaster recovery (4 ) (7 ) (10 ) Divestiture related exit costs — 9 — Non-GAAP gross profit $ 2,612 $ 2,450 $ 2,558 GAAP gross profit margin 30.8 % 31.6 % 34.8 % Non-GAAP adjustments 0.1 % 0.2 % — % Non-GAAP gross profit margin 30.9 % 31.8 % 34.8 % Year Ended October 31, 2024 October 31, 2023 Dollars in millions GAAP net revenue $ 30,127 $ 29,135 GAAP cost of sales 20,249 18,896 GAAP gross profit 9,878 10,239 Non-GAAP Adjustments Stock-based compensation expense 49 47 Disaster recovery (43 ) (13 ) Divestiture related exit costs 9 — Non-GAAP gross profit $ 9,893 $ 10,273 GAAP gross profit margin 32.8 % 35.1 % Non-GAAP adjustments — % 0.2 % Non-GAAP gross profit margin 32.8 % 35.3 % HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Reconciliation of GAAP to Non-GAAP measures (Unaudited) For the three months ended October 31, 2024 July 31, 2024 October 31, 2023 Dollars in millions GAAP earnings from operations $ 693 $ 547 $ 507 Non-GAAP Adjustments Amortization of intangible assets 69 60 72 Transformation costs 26 14 56 Disaster recovery (17 ) (2 ) (14 ) Stock-based compensation expense 89 80 71 Divestiture related exit costs — 35 — Acquisition, disposition and other related charges 78 37 18 Non-GAAP earnings from operations $ 938 $ 771 $ 710 GAAP operating profit margin 8.2 % 7.1 % 6.9 % Non-GAAP adjustments 2.9 % 2.9 % 2.8 % Non-GAAP operating profit margin 11.1 % 10.0 % 9.7 % Year Ended October 31, 2024 October 31, 2023 Dollars in millions GAAP earnings from operations $ 2,190 $ 2,089 Non-GAAP Adjustments Amortization of intangible assets 267 288 Transformation costs 93 283 Disaster recovery (51 ) (12 ) Stock-based compensation expense 430 428 Divestiture related exit costs 35 — Acquisition, disposition and other related charges 204 69 Non-GAAP earnings from operations $ 3,168 $ 3,145 GAAP operating profit margin 7.3 % 7.2 % Non-GAAP adjustments 3.2 % 3.6 % Non-GAAP operating profit margin 10.5 % 10.8 % HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Reconciliation of GAAP to Non-GAAP measures (Unaudited) For the three months ended October 31, 2024 Diluted net earnings per share July 31, 2024 Diluted net earnings per share October 31, 2023 Diluted net earnings per share Dollars in millions, except per share amounts GAAP net earnings attributable to HPE $ 1,366 $ 0.99 $ 512 $ 0.38 $ 642 $ 0.49 Non-GAAP Adjustments: Amortization of intangible assets 69 0.05 60 0.05 72 0.05 Transformation costs 26 0.02 14 0.01 56 0.05 Disaster recovery (17 ) (0.02 ) (2 ) — (14 ) (0.01 ) Stock-based compensation expense 89 0.06 80 0.06 71 0.05 Divestiture related exit costs — — 35 — — — Acquisition, disposition and other related charges 78 0.06 37 0.03 18 0.01 Gain on sale of equity interest (733 ) (0.53 ) — — — — Adjustments for equity interests 25 0.02 (44 ) (0.04 ) 2 — (Gain) loss on equity investments, net (34 ) (0.02 ) (14 ) (0.01 ) 40 0.03 Adjustments for taxes (89 ) (0.06 ) (21 ) (0.01 ) (203 ) (0.15 ) Other adjustments (2) 15 0.01 4 — (4 ) — Non-GAAP net earnings attributable to HPE (3) 795 0.58 661 0.50 680 0.52 Preferred stock dividends (25 ) — — Non-GAAP net earnings attributable to common stockholders $ 770 $ 661 $ 680 Year Ended October 31, 2024 Diluted net earnings per share October 31, 2023 Diluted net earnings per share Dollars in millions, except per share amounts GAAP net earnings attributable to HPE $ 2,579 $ 1.93 $ 2,025 $ 1.54 Non-GAAP Adjustments: Amortization of intangible assets 267 0.20 288 0.22 Transformation costs 93 0.07 283 0.22 Disaster recovery (51 ) (0.04 ) (12 ) (0.01 ) Stock-based compensation expense 430 0.32 428 0.33 Divestiture related exit costs 35 0.03 — — Acquisition, disposition and other related charges 204 0.16 69 0.05 Gain on sale of equity interest (733 ) (0.55 ) — — Adjustments for equity interests (107 ) (0.08 ) 18 0.01 Loss on equity investments, net 13 0.01 40 0.03 Adjustments for taxes (95 ) (0.07 ) (255 ) (0.20 ) Other adjustments (2) 20 0.01 (52 ) (0.04 ) Non-GAAP net earnings attributable to HPE (3) 2,655 1.99 2,832 2.15 Preferred stock dividends (25 ) — Non-GAAP net earnings attributable to common stockholders $ 2,630 $ 2,832 HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Reconciliation of GAAP to Non-GAAP measures (Unaudited) For the three months ended October 31, 2024 July 31, 2024 October 31, 2023 In millions Net cash provided by operating activities $ 2,030 $ 1,154 $ 2,843 Investment in property, plant and equipment and software assets (608 ) (543 ) (675 ) Proceeds from sale of property, plant and equipment 90 62 255 Effect of exchange rate changes on cash, cash equivalents, and restricted cash (12 ) (4 ) (102 ) Free cash flow $ 1,500 $ 669 $ 2,321 Year Ended October 31, 2024 October 31, 2023 In millions Net cash provided by operating activities $ 4,341 $ 4,428 Investment in property, plant and equipment and software assets (2,367 ) (2,828 ) Proceeds from sale of property, plant and equipment 370 602 Effect of exchange rate changes on cash, cash equivalents, and restricted cash (47 ) 36 Free cash flow $ 2,297 $ 2,238 HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Condensed Consolidated Balance Sheets As of October 31, 2024 October 31, 2023 (Unaudited) (Audited) In millions, except par value ASSETS Current Assets: Cash and cash equivalents $ 14,846 $ 4,270 Accounts receivable, net of allowances 3,550 3,481 Financing receivables, net of allowances 3,870 3,543 Inventory 7,810 4,607 Assets held for sale 1 — Other current assets 3,380 3,047 Total current assets 33,457 18,948 Property, plant and equipment, net 5,664 5,989 Long-term financing receivables and other assets 12,616 11,377 Investments in equity interests 929 2,197 Goodwill and intangible assets 18,596 18,642 Total assets $ 71,262 $ 57,153 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities: Notes payable and short-term borrowings $ 4,742 $ 4,868 Accounts payable 11,064 7,136 Employee compensation and benefits 1,356 1,724 Taxes on earnings 284 155 Deferred revenue 3,904 3,658 Accrued restructuring 61 180 Liabilities held for sale 32 — Other accrued liabilities 4,530 4,161 Total current liabilities 25,973 21,882 Long-term debt 13,504 7,487 Other non-current liabilities 6,905 6,546 Commitments and Contingencies Stockholders’ Equity HPE stockholders' Equity: 7.625% Series C mandatory convertible preferred stock, $0.01 par value (30 shares issued and outstanding as of October 31, 2024) — — Common stock, $0.01 par value (9,600 shares authorized; 1,297 and 1,283 shares issued and outstanding as of October 31, 2024 and October 31, 2023, respectively) 13 13 Additional paid-in capital 29,848 28,199 Accumulated deficit (2,068 ) (3,946 ) Accumulated other comprehensive loss (2,977 ) (3,084 ) Total HPE stockholders’ equity 24,816 21,182 Non-controlling interests 64 56 Total stockholders’ equity 24,880 21,238 Total liabilities and stockholders’ equity $ 71,262 $ 57,153 HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows Year Ended October 31, 2024 October 31, 2023 (Unaudited) (Audited) In millions Cash Flows from Operating Activities: Net earnings attributable to HPE $ 2,579 $ 2,025 Adjustments to Reconcile Net Earnings Attributable to HPE to Net Cash Provided by Operating Activities: Depreciation and amortization 2,564 2,616 Stock-based compensation expense 430 428 Provision for inventory and credit losses 175 230 Restructuring charges 33 242 Deferred taxes on earnings (64 ) (67 ) Earnings from equity interests (147 ) (245 ) Gain on sale of equity interest (733 ) — Dividends received from equity investees 43 200 Other, net 149 31 Changes in Operating Assets and Liabilities, Net of Acquisitions: Accounts receivable (83 ) 577 Financing receivables (909 ) (607 ) Inventory (3,358 ) 400 Accounts payable 3,927 (1,655 ) Taxes on earnings 190 (34 ) Restructuring (164 ) (275 ) Other assets and liabilities (291 ) 562 Net cash provided by operating activities 4,341 4,428 Cash Flows from Investing Activities: Investment in property, plant and equipment and software assets (2,367 ) (2,828 ) Proceeds from sale of property, plant and equipment 370 602 Purchases of investments (16 ) (15 ) Proceeds from maturities and sales of investments 2,149 9 Financial collateral posted (1,020 ) (1,443 ) Financial collateral received 978 1,152 Payments made in connection with business acquisitions, net of cash acquired (147 ) (761 ) Net cash used in investing activities (53 ) (3,284 ) Cash Flows from Financing Activities: Short-term borrowings with original maturities less than 90 days, net (31 ) (47 ) Proceeds from debt, net of issuance costs 11,245 4,725 Payment of debt (5,475 ) (4,887 ) Cash settlement for derivative hedging debt — (7 ) Net payments related to stock-based award activities (84 ) (106 ) Proceeds from issuance of 7.625% Series C mandatory convertible preferred stock, net of issuance costs 1,462 — Repurchase of common stock (150 ) (421 ) Cash dividends paid to non-controlling interests, net of contributions (8 ) — Cash dividends paid to shareholders (676 ) (619 ) Net cash provided by (used in) financing activities 6,283 (1,362 ) Effect of exchange rate changes on cash, cash equivalents, and restricted cash (47 ) 36 Change in cash, cash equivalents and restricted cash 10,524 (182 ) Cash, cash equivalents and restricted cash at beginning of period 4,581 4,763 Cash, cash equivalents and restricted cash at end of period $ 15,105 $ 4,581 HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Segment Information (Unaudited) For the three months ended October 31, 2024 July 31, 2024 October 31, 2023 In millions Net Revenue: Server (4) $ 4,706 $ 4,280 $ 3,574 Hybrid Cloud (4) 1,582 1,300 1,341 Intelligent Edge (4) 1,124 1,121 1,410 Financial Services 893 879 876 Corporate Investments and other (4) 262 262 263 Total segment net revenue 8,567 7,842 7,464 Elimination of intersegment net revenue (109 ) (132 ) (113 ) Total consolidated net revenue $ 8,458 $ 7,710 $ 7,351 Earnings Before Taxes (4): Server $ 545 $ 464 $ 360 Hybrid Cloud 122 66 51 Intelligent Edge 274 251 382 Financial Services 82 79 70 Corporate Investments and other (2 ) (4 ) (16 ) Total segment earnings from operations 1,021 856 847 Unallocated corporate costs and eliminations (83 ) (85 ) (137 ) Stock-based compensation expense (89 ) (80 ) (71 ) Amortization of intangible assets (69 ) (60 ) (72 ) Transformation costs (26 ) (14 ) (56 ) Disaster recovery 17 2 14 Divestiture related exit costs — (35 ) — Acquisition, disposition and other related charges (78 ) (37 ) (18 ) Interest and other, net (1) 5 (12 ) (23 ) Gain on sale of equity interest 733 — — (Loss) earnings from equity interests (14 ) 73 65 Total pretax earnings $ 1,417 $ 608 $ 549 HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Segment Information (Unaudited) Year Ended October 31, 2024 October 31, 2023 In millions Net Revenue: Server (4) $ 16,205 $ 14,361 Hybrid Cloud (4) 5,386 5,493 Intelligent Edge (4) 4,532 5,379 Financial Services 3,512 3,480 Corporate Investments and other (4) 1,014 985 Total segment net revenue 30,649 29,698 Elimination of intersegment net revenue (522 ) (563 ) Total consolidated net revenue $ 30,127 $ 29,135 Earnings Before Taxes (4): Server $ 1,818 $ 1,830 Hybrid Cloud 245 232 Intelligent Edge 1,115 1,343 Financial Services 316 281 Corporate Investments and other (25 ) (77 ) Total segment earnings from operations 3,469 3,609 Unallocated corporate costs and eliminations (301 ) (464 ) Stock-based compensation expense (430 ) (428 ) Amortization of intangible assets (267 ) (288 ) Transformation costs (93 ) (283 ) Disaster recovery 51 12 Divestiture related exit costs (35 ) — Acquisition, disposition and other related charges (204 ) (69 ) Interest and other, net (1) (117 ) (104 ) Gain on sale of equity interest 733 — Earnings from equity interests 147 245 Total consolidated earnings before taxes $ 2,953 $ 2,230 HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Segment Information (Unaudited) For the three months ended Change (%) October 31, 2024 July 31, 2024 October 31, 2023 Q/Q Y/Y Dollars in millions Net Revenue: Server (4) $ 4,706 $ 4,280 $ 3,574 10% 32% Hybrid Cloud (4) 1,582 1,300 1,341 22 18 Intelligent Edge (4) 1,124 1,121 1,410 — (20) Financial Services 893 879 876 2 2 Corporate Investments and other (4) 262 262 263 — — Total segment net revenue 8,567 7,842 7,464 9 15 Elimination of intersegment net revenue (109 ) (132 ) (113 ) (17) (4) Total consolidated net revenue $ 8,458 $ 7,710 $ 7,351 10% 15% Year Ended October 31, 2024 October 31, 2023 Y/Y Dollars in millions Net Revenue: Server (4) $ 16,205 $ 14,361 13% Hybrid Cloud (4) 5,386 5,493 (2) Intelligent Edge (4) 4,532 5,379 (16) Financial Services 3,512 3,480 1 Corporate Investments and other (4) 1,014 985 3 Total segment net revenue 30,649 29,698 3 Elimination of intersegment net revenue (522 ) (563 ) (7) Total consolidated net revenue $ 30,127 $ 29,135 3% HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Segment Operating Margin Summary Data (Unaudited) For the three months ended Change in operating profit margin (pts) October 31, 2024 July 31, 2024 October 31, 2023 Q/Q Y/Y Segment Operating Profit Margin (4): Server 11.6 % 10.8 % 10.1 % 0.8 1.5 Hybrid Cloud 7.7 % 5.1 % 3.8 % 2.6 3.9 Intelligent Edge 24.4 % 22.4 % 27.1 % 2.0 (2.7) Financial Services 9.2 % 9.0 % 8.0 % 0.2 1.2 Corporate Investments and other (0.8 %) (1.5 %) (6.1 %) 0.7 5.3 Total segment operating profit margin 11.9 % 10.9 % 11.3 % 1.0 0.6 Year Ended Change in operating profit margin (pts) October 31, 2024 October 31, 2023 Y/Y Segment Operating Profit Margin (4): Server 11.2 % 12.7 % (1.5) Hybrid Cloud 4.5 % 4.2 % 0.3 Intelligent Edge 24.6 % 25.0 % (0.4) Financial Services 9.0 % 8.1 % 0.9 Corporate Investments and other (2.5 %) (7.8 %) 5.3 Total segment operating profit margin 11.3 % 12.2 % (0.9) HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Calculation of Diluted Net Earnings Per Share (Unaudited) For the three months ended October 31, 2024 July 31, 2024 October 31, 2023 In millions, except per share amounts Numerator: GAAP net earnings attributable to common stockholders - Basic $ 1,341 $ 512 $ 642 Plus: 7.625% Series C mandatory convertible preferred stock dividends 25 — — GAAP net earnings attributable to HPE - Diluted $ 1,366 $ 512 $ 642 Non-GAAP net earnings attributable to common stockholders - Basic $ 770 $ 661 $ 680 Plus: 7.625% Series C mandatory convertible preferred stock dividends 25 — — Non-GAAP net earnings attributable to HPE - Diluted $ 795 $ 661 $ 680 Denominator: Weighted-average shares used to compute basic net earnings per share 1,312 1,312 1,295 Dilutive effect of employee stock plans 22 20 20 Dilutive effect of 7.625% Series C mandatory convertible preferred stock 41 — — Weighted-average shares used to compute diluted net earnings per share 1,375 1,332 1,315 GAAP Net Earnings Per Share Basic $ 1.02 $ 0.39 $ 0.50 Diluted (3) $ 0.99 $ 0.38 $ 0.49 Non-GAAP Net Earnings Per Share Basic $ 0.59 $ 0.50 $ 0.53 Diluted (3) $ 0.58 $ 0.50 $ 0.52 Year Ended October 31, 2024 October 31, 2023 In millions, except per share amounts Numerator: GAAP net earnings attributable to common stockholders - Basic $ 2,554 $ 2,025 Plus: 7.625% Series C mandatory convertible preferred stock dividends 25 — GAAP net earnings attributable to HPE - Diluted $ 2,579 $ 2,025 Non-GAAP net earnings attributable to common stockholders - Basic $ 2,630 $ 2,832 Plus: 7.625% Series C mandatory convertible preferred stock dividends 25 — Non-GAAP net earnings attributable to HPE - Diluted $ 2,655 $ 2,832 Denominator: Weighted-average shares used to compute basic net earnings per share 1,309 1,299 Dilutive effect of employee stock plans 18 17 Dilutive effect of 7.625% Series C mandatory convertible preferred stock 10 — Weighted-average shares used to compute diluted net earnings per share 1,337 1,316 GAAP Net Earnings Per Share Basic $ 1.95 $ 1.56 Diluted (3) $ 1.93 $ 1.54 Non-GAAP Net Earnings Per Share Basic $ 2.01 $ 2.18 Diluted (3) $ 1.99 $ 2.15 (1) Interest and other, net includes tax indemnification and other adjustments, cost, and interest and other, net. (2) Other adjustments includes non-service net periodic benefit cost and tax indemnification and other adjustments. (3) For purposes of calculating diluted net EPS, the preferred stock dividends are added back to the net earnings attributable to common stockholders and the diluted weighted average share calculation assumes the preferred stock was converted at issuance or as of the beginning of the reporting period. (4) As previously disclosed, effective as of the beginning of fiscal 2024, in order to align the segment financial reporting more closely with its business structure, the Company established two new reportable segments, Hybrid Cloud and Server. Hybrid Cloud includes the historical Storage segment, HPE GreenLake Flex Solutions (which provides flexible as-a-service IT infrastructure through the HPE GreenLake cloud and was previously reported under the Compute and the High Performance Computing & Artificial Intelligence ("HPC & AI") segments), Private Cloud, and Software (previously reported under the Corporate Investments and Other segment). The Server segment combines the previously separately reported Compute and HPC & AI segments, with adjustments for certain product lines that are now reported in Hybrid Cloud. Additionally, certain products and services previously reported in the financial results for the HPC & AI segment were moved to be reported in the Hybrid Cloud segment, and the Athonet business and certain components of the Communications and Media Solutions business, both previously reported in the financial results for Corporate Investments and Other, moved to be reported in the Intelligent Edge segment. As a result, the Company’s organizational structure for fiscal 2024 consisted of the following segments: (i) Server; (ii) Hybrid Cloud; (iii) Intelligent Edge; (iv) Financial Services; and (v) Corporate Investments and Other. The Company began reporting under this re-aligned segment structure beginning with the results of the first quarter of fiscal 2024. The Company has reflected these changes to its segment information retrospectively to the earliest period presented, which primarily resulted in the realignment of net revenue and operating profit for each of the segments as described above. These changes had no impact on Hewlett Packard Enterprise’s previously reported consolidated net revenue, net earnings, net earnings per share or total assets. Use of non-GAAP financial measures To supplement Hewlett Packard Enterprise’s condensed consolidated financial statement information presented on a GAAP basis, Hewlett Packard Enterprise provides non-GAAP financial measures including revenue on a constant currency basis (including at the business segment level), non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP operating profit (non-GAAP earnings from operations), non-GAAP operating profit margin (non-GAAP earnings from operations as a percentage of net revenue), non-GAAP income tax rate, non-GAAP net earnings, non-GAAP diluted net earnings per share, and FCF. Hewlett Packard Enterprise also provides forecasts of revenue growth on a constant currency basis, non-GAAP diluted net earnings per share, non-GAAP operating profit growth, and FCF. These non-GAAP financial measures are not computed in accordance with, or as an alternative to, GAAP in the United States. The GAAP measure most directly comparable to net revenue on a constant currency basis is net revenue. The GAAP measure most directly comparable to non-GAAP gross profit is gross profit. The GAAP measure most directly comparable to non-GAAP gross profit margin is gross profit margin. The GAAP measure most directly comparable to non-GAAP operating profit (non-GAAP earnings from operations) is earnings from operations. The GAAP measure most directly comparable to non-GAAP operating profit margin (non-GAAP earnings from operations as a percentage of net revenue) is operating profit margin (earnings from operations as a percentage of net revenue). The GAAP measure most directly comparable to non-GAAP income tax rate is income tax rate. The GAAP measure most directly comparable to non-GAAP net earnings is net earnings. The GAAP measure most directly comparable to non-GAAP diluted net earnings per share is diluted net earnings per share. The GAAP measure most directly comparable to FCF is cash flow from operations. Reconciliations of each of these non-GAAP financial measures to their most directly comparable GAAP measures for this quarter and prior periods are included in the tables above or elsewhere in the materials accompanying this news release. Usefulness of non-GAAP financial measures to investors Hewlett Packard Enterprise believes that providing the non-GAAP financial measures stated above, in addition to the related GAAP measures provides investors with greater transparency to the information used by Hewlett Packard Enterprise’s management in its financial and operational decision making and allows investors to see Hewlett Packard Enterprise’s results “through the eyes” of management. Hewlett Packard Enterprise further believes that providing this information provides Hewlett Packard Enterprise’s investors with a supplemental view to understand the Company’s historical and prospective operating performance and to evaluate the efficacy of the methodology and information used by Hewlett Packard Enterprise’s management to evaluate and measure such performance. Disclosure of these non-GAAP financial measures also facilitates the comparisons of Hewlett Packard Enterprise’s operating performance with the performance of other companies in the same industry that supplement their GAAP results with non-GAAP financial measures that may be calculated in a similar manner. Economic substance of and material limitations associated with non-GAAP financial measures used by Hewlett Packard Enterprise Net revenue on a constant currency basis assumes no change to the foreign exchange rate utilized in the comparable prior-year period. This measure assists investors with evaluating the Company’s past and future performance, without the impact of foreign exchange rates, as more than half of our revenue is generated outside of the U.S. Non-GAAP gross profit and non-GAAP gross profit margin are defined to exclude charges related to the stock-based compensation expense, disaster recovery, and divestiture related exit costs. Non-GAAP operating profit (non-GAAP earnings from operations) and non-GAAP operating profit margin (non-GAAP earnings from operations as a percentage of net revenue) consist of earnings from operations or earnings from operations as a percentage of net revenue excluding the items mentioned above and charges relating to the amortization of intangible assets, transformation costs, and acquisition, disposition and other related charges. Non-GAAP net earnings and non-GAAP diluted net earnings per share consist of net earnings or diluted net earnings per share excluding the charges previously stated, as well as adjustments for equity interests, gain or loss on equity investments, other adjustments, and adjustments for taxes. The Adjustments for taxes line item includes certain income tax valuation allowances and separation taxes, the impact of tax reform, structural rate adjustment, excess tax benefit from stock-based compensation, and adjustments for additional taxes or tax benefits associated with each non-GAAP item. Hewlett Packard Enterprise believes that excluding the items mentioned above from the non-GAAP financial measures provides a supplemental view to management and investors of its consolidated financial performance and presents the financial results of the business without costs that Hewlett Packard Enterprise’s management does not believe to be reflective of ongoing operating results. Exclusion of these items can have a material impact on the equivalent GAAP measure and cash flows thus limiting their use as analytical tools. These limitations are discussed below or elsewhere in the materials accompanying this news release. More specifically, Hewlett Packard Enterprise’s management excludes each of those items mentioned above for the following reasons: Compensation for material limitations with use of non-GAAP financial measures These non-GAAP financial measures have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of Hewlett Packard Enterprise’s results as reported under GAAP. Some of the limitations in relying on these non-GAAP financial measures are that they can have a material impact on the equivalent GAAP earnings measures and cash flows, they may be calculated differently by other companies (limiting the usefulness of those measures for comparative purposes) and may not reflect the full economic effect of the loss in value of certain assets. Hewlett Packard Enterprise compensates for these limitations on the use of non-GAAP financial measures by relying primarily on its GAAP results and using non-GAAP financial measures only as a supplement. Hewlett Packard Enterprise also provides a reconciliation of each non-GAAP financial measure to its most directly comparable GAAP financial measure for this quarter and prior periods within this news release and in other written materials that include these non-GAAP financial measures, and Hewlett Packard Enterprise encourages investors to review those reconciliations carefully. View source version on businesswire.com : https://www.businesswire.com/news/home/20241205728686/en/ CONTACT: Media Contact: Laura Keller Laura.Keller@hpe.comInvestor Contact: Paul Glaser investor.relations@hpe.com KEYWORD: UNITED STATES NORTH AMERICA TEXAS INDUSTRY KEYWORD: DATA MANAGEMENT TECHNOLOGY SOFTWARE ARTIFICIAL INTELLIGENCE INTERNET HARDWARE SOURCE: Hewlett Packard Enterprise Copyright Business Wire 2024. PUB: 12/05/2024 04:05 PM/DISC: 12/05/2024 04:05 PM http://www.businesswire.com/news/home/20241205728686/en
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