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IBM: Fiscal 4Q15 Financial Results

Drops never stop each quarter since four years in storage.

IBM Corp. reported 2015 fourth-quarter and full-year results ended December 31, 2015.

The company continues to be the worst giant in storage with Y/Y revenue decreasing each quarter since fours years without interruption (see below).

For the most recent three-month period, revenues from system storage decreased 11% or 7% adjusting for currency.

This business represented 32% of total systems hardware or $768 million.

Martin Schroeter, IBM SVP and CFO, commented: “The growth in our servers was mitigated by a 7% decline in storage hardware, which continues to be impacted by weakness in traditional disk and tape. As we have said: value in the storage market continues to shift to software and offering requirements that are driving demand for flash and object-based storage. We are well-positioned in these new areas, with growth in flash, and our recent acquisition of Cleversafe.

According to our addition of all quarters of 2015, annual revenue of system storage reach $2.4 billion for the year, down 10% from 2014. It was 12% from 2013 to 2014.

The WW market is decreasing but not at these high rates.

Revenue of IBM’s division Tivoli declined 1% Y/Y during the quarter.

Revenue Growth of IBM System Storage

Fiscal period
Y/Y Growth
4Q11 -1%
1Q12 -4%
2Q12
-4%
3Q12 -10%
4Q12 -5%
1Q13 -11%
2Q13 -7%
3Q13 -11%
4Q13 -13%
1Q14 -23%
2Q14 -12%
3Q14 -6%
4Q14 -8%
1Q15 -4%
2Q15 -10%
3Q15 -19%
4Q15 -11%

 
To read the earnings call transcript

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