back to article HP storage results borked by bleeding currency rates

With its latest results, HP's third-quarter storage revenues went down 2 per cent on the annual compare, not being pulled up by industry standard servers' revenue which rose 8 per cent. But at constant currency – ignoring foreign exchange rate changes over the year – they rose 7 per cent. The Enterprise Group's revenues were $ …

  1. luis river

    Tremendous

    The "terminator" CEO Whitman has concluded 50.000 work positions in two years, condemning to the hunger to whole families, deserves the scorn.

  2. This post has been deleted by its author

  3. PaulCharlton

    You should wonder why analysts feel the need to make excuses for HP.

    • It’s up to HP to mitigate the impact of the currency; if the currency impact was favorable it wouldn’t get a mention.

    • In the past 16 quarters, HP Storage has only shown positive year-over-year growth in three of them, and in those three case growth was 1.0% or less. Was currency also to blame in the past 16 quarters? I think not.

    • With enough negative quarters in tow it eventually becomes possible to start to appear to “outgrow” the competition, but that’s only because HP is “growing” from a very low base.

    • So if HP Storage “appears” to be doing comparatively better than EMC, IBM & NetApp because it outgrew each of them, well that’s the first time that it has happened. Ever. One quarter marginally outgrowing EMC doesn’t make for an eternity under-growing EMC.

    • To put last quarter’s revenue of $784M in its proper context: it’s the 2nd lowest quarter of revenue in the last ten years (the lowest was only the quarter before that) and it’s 20% down from its’ 3Q peak in 2011 of $976M. In contrast, EMC is up 6% over the same period.

    And ask yourself what exactly is it that HP Storage will be able to do after the split that it couldn’t do today?

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