IBM: Fiscal 1Q15 Financial Results

IBM reports its fiscal first quarter financial results for the period ended March 31, 205.

Revenue from storage hardware decreased 8% (2% adjusting for currency). It represents 28% of total systems hardware segment ($1.7 billion) or $476 million.

(Source: IBM)

Nothing can stop the decline of Big Blue in storage system. Since at least 4FQ11 or more than three years, sales are decreasing each quarter compared to the same period one year ago (see table below), from 1% to 23% depending on the quarter. It continues to be the worst results compared to all the other biggest storage companies and we don’t see any real reaction of the company to inverse this trend.

Martin Schroeter, IBM’s CFO commented: “Our storage hardware revenue was down 2%, a modest sequential improvement. We again saw strong growth in our flash systems. This growth was offset by the wind down of our OEM business and continued price weakness in high-end disk. We see value in the storage market shifting to software and in the first quarter we unveiled IBM Spectrum Storage, new storage software in support of hybrid cloud environments. The portfolio provides greater access to data, accelerates speed to insights and improves data economics.“

Tivoli’s revenue was up 4% Y/Y.

IBM Storage Hardware Quarterly Revenue

 To read the earnings call transcript