Hewlett Packard Enterprise (NYSE:HPE) experienced a 7% intra-day drop today after revising its annual guidance due to ongoing investments in cloud and artificial intelligence.

For 2023, the company now anticipates EPS in the range of $1.35 to $1.39, down from the previous range of $1.42 to $1.46 per share. However, the forecast for adjusted EPS remains unchanged within the range of $2.11 and $2.15.

Looking ahead to 2024, HPE forecasts revenue growth of 2% to 4% and adjusted EPS between $1.82 and $2.02, along with a plan to increase its dividend per share by 8%.