Enterprises are hesitant to sign new contracts, commit to long-term initiatives or take on new technology partners, although IT spend is expected to increase in 2024, according to research firm Gartner. HPE expects revenue in the second quarter in the range of $6.6 billion to $7 billion, below analysts' average estimate of $7.11 billion, according to LSEG data. CFO Marie Myers said that the "softening of the networking market and GPU deal timing" impacted the company in the first quarter.
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