HPE: Fiscal 1Q22 Financial Results
Storage revenue at $1.2 billion, -3% Y/Y and -8% Q/Q
By Jean Jacques Maleval | March 2, 2022 at 2:02 pm| (in $ million) | 1Q21 | 1Q22 |
| Revenue for storage only |
1,192 | 1,156 |
| Growth | -3% | |
| Earnings before taxes | 234 | 168 |
Hewlett Packard Enterprise Development LP announced financial results for the first quarter, ended January 31, 2022.
Global revenue reached $7 billion in 2FQ22, up 2% Y/Y.
Storage revenue
Storage revenue was $1.2 billion, down 3% Y/Y and 8% Q/Q in actual dollars and when adjusted for currency, with 14.5% operating profit margin, compared to 19.6% from the prior-year period reflecting supply chain constraints, particularly in firm’s owned IP offerings.
It represents 14.5% of total revenue, -5.1% points Y/Y.
Compute and storage businesses experienced robust order growth and profitability. In 1FQ22, 10% of compute and storage orders were sold as-a-service.
Storage drove product order growth of more than 15% Y/Y for the 4th consecutive quarter.
Storage operating profit for the quarter was $168 million, to be compared to $234 million one year ago.
Revenue for HPE storage since FY17
(in $ million)
| Fiscal quarter |
Revenue |
Q/Q Growth |
Y/Y growth |
| FY17 | 3,280 | 3% |
|
| 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% |
|
| 2FQ21 | 1,137 | -5% |
|
| 3FQ21 | 1,176 | 4% |
|
| 4FQ21 | 1,257 | 3% | |
| FY21 | 4,763 | 2% | |
| 1FQ22 | 1,156 | -8% |
* HPE changes its accounting results in 1FQ20.
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