HP: Fiscal 1Q15 Financial Results

In storage, HP finished quite well its fiscal year 2014 with revenue increasing 10% sequentially after three bad quarters. But once more this time this business is declining quarterly, by 5%, at 837 million, and totally flat year-to-year.

Converged storage was up 21% Y/Y at $416 million now making up 50% of total storage revenue. Sales of traditional storage were down 14% yearly at $421 million.

3par, plus XP, plus EVA was up 12% year-over-year, and all flash 3par revenue accelerated, now making up 20% of total 3par mid-range portfolio.

The company expects storage, particularly 3par, to outperform competitors especially in the mid-range.

HP’s business critical systems revenue was down 9%.

For calendar 4Q14, IDC estimates that HP was number two in WW total disk storage systems market with revenue of $1.456 million, up 4.8% from 4Q13 and a 13.8% market share. For WW external disk storage systems only, the company was ranked in the fourth position with sales of $689 million, up yearly 3.3% and 9.6% market share.

Quarterly revenue for HP storage only
(without services, in $ million)