HP: Fiscal 1Q14 Financial Results

(in $ million)	1Q13	4Q14
Storage revenue	833	834
*Growth*		0%

Hewlett-Packard Development Company, LP announced financial results for its fiscal 2014 first quarter ended Jan. 31, 2014.

Enterprise group revenue was up 1% year over year with a 14.4% operating margin. Into this group, storage was flat at $834 million in 1Q14 compared to $833 million in 1Q13, and down 12% sequentially from $952 million.

Business critical systems revenue decreased 25%.

In converged storage, HP saw 42% revenue growth over the prior year and, as usual, 3Par continues to perform well, particularly in the midrange segment, but traditional storage segment continue to plunge.

“3Ppar for EDA plus XP grew 13% faster than the market again this quarter,” commented CFO Cathie Lesjak.

Revenue for storage only
(without services, $ million)