HP: Fiscal 1Q11 Financial Results

Storage at $1.0 billion, down 3% compared to former quarter

By Jean Jacques Maleval | February 23, 2011 at 3:27 pm

Storage products only (without software and services)

(in $ millions)	1Q10	4Q10	1Q11
Revenues	889	1,044	1,012
*Q/Q growth*			-3%
Y/Y growth			14%

HP announced financial results for its first fiscal quarter ended January 31, 2011

Enterprise Servers, Storage and Networking (ESSN) revenue grew 22% year over year with a 14.7% operating margin. "ESSN delivered a solid quarter, demonstrating increased value to customers as they transition to hybrid cloud environments through a converged infrastructure, including innovations in servers, storage and networking", stated the company.

Sales of storage products only amount $1,012 million, down 3% sequentially and up 14% yearly. We were waiting for better figure for the quarter after the acquisition of 3par.