HP: Fiscal 2Q15 Financial Results

Hewlett-Packard Development Company, LP announced financial results for its fiscal 2015 second quarter ended April 30, 2015.

HP storage is at its lower level since several years for the most recent quarter with revenue of $740 million, down 12% Q /Q, 8% or 2% in constant currency Y/Y.

For the former three-month period it was $837 million, a figure flat Y/Y and down 5% sequentially.

To better appreciate the continuing decrease of HP storage, we found that this business surpasses one million dollar in sales for the same second fiscal quarter … in 2008.

Once more the main reason is the decline during the April 2015 quarter of traditional storage products, decreasing 18% Y/Y at $384 million, but also this time weaker than expected performance in EMEA.

For converged products, sales increased 5% yearly at $356 million with solid growth in 3par subsystems .

Storage represents 11% of global Enterprise Group revenue during the quarter.

Cathie Lesjak, CFO, said: “In the second half, we expect continued traction in converged storage to drive a return to growth overall in constant currency.”

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