HPE: Fiscal 1Q21 Financial Results
Storage at $1.2 billion, down 5% Y/Y and 2% Q/Q, but Nimble up yearly 31%
By Jean Jacques Maleval | March 3, 2021 at 2:23 pmHPE revenue for storage only
(in $ million)
1FQ20 | 1FQ21 |
|
Revenue | 1,252 | 1,193 |
Q/Q growth | -10% | -5% |
Earnings before taxes | 251 | 235 |
Hewlett Packard Enterprise Development LP announced financial results for the first quarter, ended January 31, 2021.
Representing 17% of global sales, storage revenue was $1,193 million for the quarter, down 5% Y/Y (or 6% when adjusted for currency), with 19.7% non-GAAP operating profit margin ($235 million), compared to 20.0% from the prior-year period.
For storage only
This revenue decline was driven by difficult prior year compare, but with growth in software-defined offerings.
The firm is well positioned with Primera and Nimble dHCI. Its most software rich platforms are both growing triple digits Y/Y. Primera is on track to surpass 3PAR saless next quarter. The company also saw strength in overall Nimble, up 31% Y/Y, and total AFAs were up 5% yearly, driven by increased adoption of Primera. This is the fastest revenue ramp ever achieved in HPE storage portfolio.
Storage operational services attach intensity is up double-digits Y/Y.
Revenue for HPE 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 | 6% |
|
FY18 |
3,706 |
13% | |
1Q19 | 975 | 3% |
|
2Q19 | 942 | -3% |
|
3Q19 | 844 | -10% |
|
4Q19 | 848 | 0% |
|
FY19 |
3,609 | -3% | |
1Q20* |
1,250 | -8% |
|
2Q20 | 1,086 | -18% |
|
3Q20 | 1,128 | -10% |
|
4FQ20 | 1,217 | 8% |
|
FY20 | 4,681 | -10% | |
1FQ21 | 1,193 | -2% |
* HPE changes its accounting results in 1FQ20.