HP: Fiscal 1Q09 Financial Results

Storage revenue declined 20% sequentially.

By Jean Jacques Maleval | February 19, 2009 at 3:47 pm

HP announced financial results for its first fiscal quarter ended Jan. 31, 2009, with total net revenue of $28.8 billion, up 1% from a year earlier.

For storage only (without services)

(in $ millions)	1Q08	4Q08	1Q09
Revenues	977	1,147	913
*Q/Q growth*			-20%
Y/Y growth			-7

Commenting HP’s financial results, Catherine Lesjak, executive VP & CFO, said: "Storage revenue declined 7% driven primarily by unfavorable currency exchange rates and market condition. EVA was down 7% with growth in the Americas offset by declines in EMEA, and Asia Pacific."

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