HP: Fiscal 1Q13 Financial Results

Storage only (without services)

(in $ million)	1Q12	4Q12	1Q13
Revenues	955	946	833
*Q/Q growth*			-12%
Y/Y growth			-13%

HP announced financial results for its first fiscal quarter ended Jan. 31, 2013.

For their most recent three-month period, storage specialists like EMC and NetApp record much better results than generalists Dell, HP or IBM for their storage business. And like Dell or IBM, HP survives thanks to their acquisitions, Compellent and EqualLogic for the first one, XIV and Storwize for the second one, 3par for the third one.

For 1Q13, storage represents 13% of HP’s Enterprise Group or $833 million, down 12% sequentially and 13% yearly. It’s about the same figure ($824 million) recorded … in 3Q09! It includes converged sales at $242 million – with 3par up 21% over the prior year -, up 18%, and traditional revenue of $591 million, down 21% form the former year. This traditional category includes tape, storage networking and legacy external disk product such as EVA and XP. Business critical systems revenue was down 24% and technology services revenue 1% year over year.

To read the earnings call transcript