HP: Fiscal 1Q15 Financial Results
Storage flat Y/Y, down 5% sequentially
By Jean Jacques Maleval | March 20, 2015 at 2:39 pm(in $ million) | 1Q14 | 1Q15 |
Storage revenue | 834 | 837 |
Growth | 0% |
In storage, HP finished quite well its fiscal year 2014 with revenue increasing 10% sequentially after three bad quarters. But once more this time this business is declining quarterly, by 5%, at 837 million, and totally flat year-to-year.
Converged storage was up 21% Y/Y at $416 million now making up 50% of total storage revenue. Sales of traditional storage were down 14% yearly at $421 million.
3par, plus XP, plus EVA was up 12% year-over-year, and all flash 3par revenue accelerated, now making up 20% of total 3par mid-range portfolio.
The company expects storage, particularly 3par, to outperform competitors especially in the mid-range.
HP’s business critical systems revenue was down 9%.
For calendar 4Q14, IDC estimates that HP was number two in WW total disk storage systems market with revenue of $1.456 million, up 4.8% from 4Q13 and a 13.8% market share. For WW external disk storage systems only, the company was ranked in the fourth position with sales of $689 million, up yearly 3.3% and 9.6% market share.
Quarterly revenue for HP storage only
(without services, in $ million)
Quarter |
Revenue |
Q/Q Growth |
1Q13 | 833 | -12% |
2Q13 | 857 | 3% |
3Q13 | 833 | -3% |
4Q13 | 952 | 14% |
1Q14 | 834 | -12% |
2Q14 | 808 | -3% |
3Q14 | 796 | -1% |
4Q14 | 878 | 10% |
1Q15 | 837 | -5% |