IBM: Fiscal 3Q19 Financial Results
Storage hardware revenue inexorably declining, for 5 quarters in a row
This is a Press Release edited by StorageNewsletter.com on October 17, 2019 at 2:23 pmIBM Corp. reports 3Q19 financial results ended September 30, 2019.
Total revenue of $18.0 billion was down 3.9% Y/Y, even with the addition of acquired company Red Hat.
It was about the same decrease in systems storage hardware business: -4% Y/Y at around $434 million (-6% GAAP), declining during five quarters in a row.
It was down 21% Y/Y for the former quarter, worst figure since 1FQ14.
Big Blue’s only comment: “In storage, revenue was down 4%. This is an improvement in the Y/Y performance compared to recent quarters, driven by our high-end, and growth in all-flash array. We’re focused on continued innovation in storage, and we announced the next generation high-end system, DS8900, together with the mainframe in mid-September.”
For the year, IBM’s storage sales will be not be much higher than revenue of a company like Pure Storage, in AFA only. Big Blue entered in storage in the fiftieth and Pure was founded only ten years ago.
Revenue Growth of IBM Storage Products
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% |
1Q16 | -6% |
2Q16 | -13% |
3Q16 | -9% |
4Q16 | -10% |
1Q17 | 7% |
2Q17 | 8% |
3Q17 | 4% |
4Q17 | 8% |
1Q18 | -15% |
2Q18 |
2% |
3Q18 | -6% |
4Q18 |
-7% |
1Q19 |
-11% |
2Q19 |
-21% |
3Q19 |
-4% |
To read the earnings call transcript