IBM: Fiscal 2Q15 Financial Results

IBM Corp. revealed the financial results for its second quarter of 2015 ended June 30, 2015.

It’s ugly: once more and for the fourteenth consecutive quarter, system storage revenue decreased Y/Y (see below), 10% for the most recent three-month periods (or 4% adjusting for currency.)

The company again saw strong growth in flash systems with its new generation offerings introduced in the first half. This growth was once more offset by the wind-down of OEM business and continued weakness in high-end disk.

Total systems hardware sales in 2Q15 were $2.1 billion, storage representing 30% or $630 million.

GAAP revenue of Tivoli business, especially in charge of storage software, decreased 8% Y/Y (-1% Y/Y at current currency.)