HPE: Fiscal 3Q19 Financial Results

HPE revenue for storage only
(in $ million)

	3FQ18	2FQ19	3FQ19	9 mo.18	9 mo. 19
Storage revenue	887	942	844	2,747	2,761
*Q/Q growth*	-3%	-3%	-10%	NA	1% Y/Y

Hewlett Packard Enterprise Development LP announced financial results for its fiscal 2019 third quarter, ended July 31, 2019.

Global revenue for the quarters was $7.2 billion down 7% Y/Y, up 1% Q/Q

Hpe Fiscal 3q19 Financial Results

It’s the second consecutive quarter with storage sales down, this time -10% Q/Q, worst figure since at least 1FQ18.

President and CEO Antonio Neri explained that: “While storage overall experienced a modest revenue decline against the tougher market backdrop in year-over-year compare, we gained momentum in key strategic areas like HP Nimble storage, which grew 21% and hyperconverged which grew 4%.”

Composable cloud was up 28% Y/Y and HPE Pointnext operational and Nimble services orders were up yearly 3% year when adjusted for currency.

At the end of 1FQ19, HPE said it expects storage revenue to ramp targeting $1 billion per quarter. Current trend is far to satisfy that hope.

Revenue for HP storage since FY17
(in $ million)

Fiscal quarter	Revenue	Q/Q Growth	Y/Y growth
FY17	3,280		3%
1Q18	948	5%
2Q18	912	-4%
3Q18	887	-3%
4Q18	959	8%
FY18	3,706		*13%*
1Q19	975	3%
2Q19	942	-3%
3Q19	844	*-10%*

To read the earnings call transcript