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AMD accuses Intel of VW-like results fudging

AMD has revived one of the oldest feuds in the industry, once again accusing Intel of fudging benchmark results and comparing Chipzilla's practices to VW's falsified diesel engine emissions tests. The world's other x86 booster has slung slings, arrows and FUD (fear, uncertainty, and doubt) at Intel for more than a decade over …
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BT posts flat results following EE merger green light

Telecoms giant BT posted flat results for its second quarter earnings, just days after it was given the green light by Blighty's spending watchdog to snap up mobile operator EE for £12.5bn. For the three months to September, the one-time state monopoly posted flat revenue of £4.38bn for the second half of 2015, compared with …
Kat Hall, 29 Oct 2015
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Handy results put ARM on track for a muscular year

Chip designer ARM has posted another period of growth, with revenue up 17 per cent to $375.5m (£243m) for the third quarter, when compared with the previous year. Meanwhile, third-quarter pre-tax profit climbed 27 per cent to £128.4m, compared with the same period last year. ARM appears to be on track for a record year, with …
Kat Hall, 21 Oct 2015

Imation results drenched in red as exiting consumer biz cuts deep

+Comment Global data storage company Imation is on the accountant's operating table and diseased flesh is being slowly cut away. Its third quarter results are dominated by red ink, with a $152m loss, 148 per cent worse (yes, worse) than a year ago. Revenues for the quarter were $129.2m, 26.2 per cent less than the year-ago quarter’s $ …
Chris Mellor, 09 Nov 2015
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Revenue up 62 per cent, as Redcentric posts bumper post-buy results

Managed services biz Redcentric reported a significant increase in sales and profits for its full-year 2015 results, as the firm's acquisition strategy began to bear fruit. The Yorkshire outfit posted an increase in revenue of 62 per cent to £94.3m, compared with 2014. Profits rose to £8m from £1.8m for the same period. The …
Kat Hall, 15 Jun 2015
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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 $ …
Chris Mellor, 21 Aug 2015

Arista bullish for full year results after 47 per cent YoY growth in Q2

High-performance data centre switching upstart (and Cisco litigation target) Arista Networks has reported 47 per cent revenue growth year-on-year for the quarter ended June 30. The company's financial release says it recorded US$195.6 of revenue, and a GAAP net income of $24 million (up from $21.6 million for the corresponding …
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Wall Street turns off music at Adobe results after-party

Financial analysts last night ejected everyone from Adobe’s party prematurely as weaker-than-expected forecasts for the current quarter eclipsed the good progress made in cloud services, causing a share dip. The Creative Suite developer reported a 21 per cent bounce in turnover to $1.22bn in its Q3 of fiscal ’15 ended ended 28 …
Paul Kunert, 18 Sep 2015
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Barracuda misses Q2 results target

Cloud security and storage supplier Barracuda recorded growing revenues in its latest quarter, but fell short of expectations and made a loss because of poor sales in Europe and large deal push-outs. However, it announced it was buying a managed service provider software company to grow its market. Revenues for the second …
Chris Mellor, 01 Oct 2015

Seagate's third quarter results looking lacklustre as profits tumble

Seagate has reported year-on-year declines in third-quarter revenue and profit, as notebook enhancements went unnoticed. Third fiscal 2015 quarter revenues were $3.3bn, 3 per cent down on the $3.4bn recorded a year ago and 11 per cent lower than the second full-year 2015 quarter's $3.7bn. Profits were $291m, 26 per cent down on …
Chris Mellor, 20 Apr 2015
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Symantec’s dismal results show need for Veritas sale

Symantec’s latest results, published on the day of the Veritas sell-off announcement, show a 14 per cent revenue decline and 49 per cent profit fall on the annual compare. Revenues of $1.5bn produced profits of $117m, compared with $1.74bn and $236m respectively a year ago. On the sequential compare, the previous quarter’s …
Chris Mellor, 12 Aug 2015

EU says dominant Google ILLEGALLY FIDDLES search results

The EU’s chief competition regulator alleged today that Google is illegally abusing its dominant position in the search market. Antitrust commissioner Margrethe Vestager has now taken the first official step towards fining the ad-slinging search monster. “I am confident that Google has artificially boosted its position in the …
Jennifer Baker, 15 Apr 2015
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VMware sprawls across the data centre to post 'solid' Q2 results

VMware has posted what CEO Pat Gelsinger described as “solid” second quarter results that exceeded analysts expectations on earnings-per-share and fell over the line on the revenue growth front. The former metric was 93 cents a share, two cents higher than expected. The latter was $1.6bn, a four per cent improvement that …
Simon Sharwood, 22 Jul 2015

Pure Storage flashes post-IPO results: Get a load of our... revenues

All-flash array startup Pure Storage enjoyed a pretty good first post-IPO quarter, with triple-digit annual growth, a double-digit sequential revenue rise, and lessening losses, as it secured hundreds of new customers. Revenues for its third fiscal 2016 quarter, ended 31 October, were $131.4m, beating analysts’ estimates, with …
Chris Mellor, 03 Dec 2015

Citrix – Sorry, we didn't realise job cuts would knacker results

Citrix dropped the ball in Q1 by underestimating the short-term effects of chopping hundreds of staffers as part of a company-wide restructure, and the challenge posed by the swollen dollar. The firm previously warned shareholders and Wall Street analysts a fortnight ago that sales and earnings per share would come in lower than …
Paul Kunert, 23 Apr 2015
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North Wales Police outsourcing deal results in massive overspend

Attempts by North Wales Police (NWP) to rationalise IT spending have backfired after a project aimed at saving them money by moving towards a single supplier went seriously over-budget. The police force hoped to save £700,000 per year by outsourcing multiple functions to a single (unnamed) IT contractor but wound up spending £ …
John Leyden, 18 Dec 2015
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Violin posts yet more crappy results as it swaps out sales veep

Violin's revenues underwhelmed in its latest quarter as sales execution issues and a collapse in older product sales contributed to another big loss. Revenues in the first quarter of fiscal 2016 were a depressing $12.1m, 41 per cent lower than Q4 of fiscal 2015 and 33 per cent lower than the $18.1m reported in the first quarter …
Chris Mellor, 08 Jun 2015

EMC reports mixed results, fingers axe: 'Reduction in force' planned

+Comment Storage giant EMC has announced its plans to lay off an unspecified number of staffers in Q1 and said in an SEC filing that it would record restructuring charges in the range of $130m to $150m. In the final few months of last year, EMC increased its revenues by $1bn, quarter on quarter, with Pivotal and VMware growing strongly, …
Chris Mellor, 29 Jan 2015
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Citrix: CEO exit plans accelerated, results take a turn.... for the better

Citrix – currently locked in the vice-like grip of activist investor Elliott Management – has confirmed exec chairman Robert Calderoni will move into the care-taking CEO position. Long-serving chief exec Mark Templeton previously confirmed he is to retire at the end of this calendar year, but had planned to man the fort until …
Paul Kunert, 22 Oct 2015

Oh, Emulex: Another quarter, yet more red-splattered results

Emulex results were dismal, never mind what president and CEO Jeff Benck said about achieving "the high end of our revenue guidance." Revenues were down and losses deeper for its fourth fiscal 2014 quarter - ended June 29 - and for the full year. Q4 of financial year 2014's revenues were $99.8m; they were $109.7m last quarter …
Chris Mellor, 11 Aug 2014
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Order delays hit Avnet Tech Solutions' results, profits slide

The postponement of projects in North America led to "weaker than expected" results at Avnet's enterprise IT wing, Technology Solutions, as ops in EMEA continued to limp along during fiscal Q3 ended 29 March. At group level, Avnet Inc - which comprises TS and Electronics Marketing (EM) - reported sales of $6.68bn, rising 6.1 per …
Paul Kunert, 25 Apr 2014
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Don't like droopy results, NetApp? Develop server-side SAN

+Comment NetApp's second-quarter revenue number have confirmed its recent overall decline, with the storage and data management company trying to recover from several recent quarters of revenue falls. NetApp_Revenues_To_Q3fy2015 NetApp revenues to Q2 full year 2015 with polynomial trend line showing decline A curve showing a long …
Chris Mellor, 13 Nov 2014
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RM's core tech division suffered a 12% revenue dip in 2015

Ditching PC production, the running down of the old Building Schools for the Future contracts, and relatively “subdued” government spending on education ate into RM’s lunch money in 2015. The specialist education supplier turned over £178.2m in the year ended November, down 12 per cent on the prior fiscal, and it was all the …
Paul Kunert, 01 Feb 2016
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Freshly slurped EMC's financials will be flat with no fizz

At the same time as it was being swallowed by Dell, EMC pre-announced its third quarter results, revealing virtually no growth in revenues from a year ago. The company expects Q3 revenues to be between $6.05bn and $6.08bn. At the mid-point, that is 0.5 per cent higher than a year ago and 1 per cent more than the second quarter …
Chris Mellor, 13 Oct 2015

Yee-haw! Rackspace shares soar on – gasp – healthy results

When Rackspace's chief executive Lanham Napier shocked analysts with his resignation last quarter, things looked bad for the company. But its latest financial results indicate that the company has weathered the transition. Napier's outgoing comments that the company's numbers looked "pretty darn formidable" have been borne out …
Jack Clark, 12 May 2014

KCOM Group results hit by Phones4U woes

Brit telco and tech services playa KCOM Group has kickstarted a cost-cutting programme to counter a wobbly top and bottom line, not helped by the collapse of Phone4You and slower than expected PSN demand. The LSE-listed Hull-based group reported a 6.7 per cent drop in turnover to £173m for the first half of fiscal ’15, as profit …
Paul Kunert, 25 Nov 2014
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WD results confirm it: Disk buyers ARE spending less

Is there a disk drive sales slump? Seagate's latest quarterly results suggested it and now WD's results confirm it. Enterprise disk drive buyers are spending less money. Despite all the marketing/analyst guffery about data bloat driving storage sales, both Seagate and Western Digital have seen lower sales in the last three …
Chris Mellor, 01 May 2014
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Embattled Barracuda Networks looks for buyer – report

Barracuda Networks, with its back against the wall after a string of poor quarters and collapsing stock price, is reportedly looking for a buyer. According to Bloomberg, Barracuda engaged with Morgan Stanley to look for a buyer some months ago. The company provides data protection and security products for small and medium …
Chris Mellor, 02 Feb 2016

Floating mutant, hidden profit: Nimble reveals first post-IPO results

Mutant flash-disk arrays are apparently continuing to disrupt the storage market, judging by hybrid array-slinger Nimble Storage's business in the period to the end of January this year. It recently revealed both the quarter which included its IPO and its full year results. Hybrid arrays juice cheap disk capacity with a dash of …
Chris Mellor, 04 Mar 2014
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Symantec's getting $1bn less for Veritas thanks to ‘uncertainties’

The Carlyle Group and Symantec have agreed to cut Veritas’s top line purchase price by $600m, as "uncertainties" related to the transaction have come to the fore. Back in August the Carlyle Group agreed to buy Veritas, Symantec's storage business, for $8.0bn, with Symantec expecting to receive $6.3bn in net cash. That price …
Chris Mellor, 20 Jan 2016
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Seagate bleeding sales as PC downturn starts to hit hard

Just like QLogic, Seagate sales figures have taken a dive along with the PC sales downturn, and it's had to issue preliminary results to warn the market. For its fourth fiscal 2015 quarter, instead of the expected $3.2-$3.3bn, it thinks it will make just $2.9bn. It expects to report unit shipments of approximately 45 million …
Chris Mellor, 13 Jul 2015
Light at the end of the tunnel. Credit: Smabs Sputzer

HP Storage results: Gloomy, but there's light at the end of the tunnel

Comment HP storage emulated HP's latest overall quarterly results, with both good news and bad news, but the gloom overwhelmed the gleam. Within HP's $27.6bn third fiscal 2014 quarterly revenue report, storage contributed $796m (just 3.6 per cent) of HP's earnings for the quarter and 11.5 per cent of the Enterprise Group's revenue. EG …
Chris Mellor, 21 Aug 2014
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Microsoft on Cloud 9 after online biz boosts profits to $6.3bn in second quarter

It has proven a happy New Year for Microsoft, with profits of $6.3bn (up 8 per cent on the year) in its second financial quarter – driven largely by increasing revenues from its cloud business. "Businesses everywhere are using the Microsoft Cloud as their digital platform to drive their ambitious transformation agendas," said …
Iain Thomson, 28 Jan 2016
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Staff at stumbling server storage supplier QLogic brace for big layoffs

QLogic, swaying in the doorway with a tatty photocopy of its lousy prelim results in hand, has warned staff they will be axed to cut costs. A couple of weeks ago, the server-storage connectivity card vendor signaled poor first fiscal 2016 quarter results were coming: sales will be up to $19m lower than the most optimistic …
Chris Mellor, 21 Jul 2015

How Symantec scuppered Veritas sell-off six ways to Sunday

A champagne bottle's crack, a splash, and cheers rang out as the good ship Veritas was launched on the banks of Symantec's river – sent off to steam the data storage seas own with a new owner: the Carlyle Group. It's had an inauspicious launch: Symantec had to cut the price tag for Veritas by $800m due to "uncertainties" and a …
Chris Mellor, 01 Feb 2016
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Acer pair charged with insider trading for '$72k pre-results stock dump'

Two senior Acer staffers have been charged with insider trading – after allegedly offloading shares worth $72,300 just before the PC giant announced fresh financial losses. Former company mouthpiece Henry Wang and investor relations division senior manager Jiong Yuan Chen were charged in Taiwan late last week along with five …
Paul Kunert, 12 May 2014

Alphabet, cough, Google most valuable biz on Earth as it pours billions into 'other bets'

Alphabet, Google's new parent-holding-company-thing, has reported stellar end-of-year results: revenues in the final quarter of 2015 hit $21.3bn, and profit reached $4.9bn. The figures pushed Alphabet's stock price up eight per cent in after-hours trading, making it, for the moment, the most valuable company on the planet by …
Iain Thomson, 01 Feb 2016
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Symantec's definition of transformation: Take the profit made a year ago and burn a quarter of it

Symantec has announced its results for the third quarter of fiscal 2016 and they aren't looking pretty. Revenues are down 6 per cent and profits plummeted by 23 per cent. In a conference call following the earnings announcement, CEO Michael Brown said the Silicon Valley firm was well on its way with a three-year restructuring …
Iain Thomson, 05 Feb 2016
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QLogic issues mournful prognosto ahead of next numbers

QLogic expects a significant shortfall in its latest quarter’s results compared to expectations set a couple of months ago and has issued preliminary numbers to warn the financial markets. The expectation was for $124 million to $132 million revenues. Instead the prelim number is $113 million, well down, and comparing poorly …
Chris Mellor, 10 Jul 2015
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Two big risks could torpedo Dell-EMC deal

+Comment The Dell-EMC merger deal, with EMC shareholders getting $33.15 per share, was announced on October 12 last year, when EMC shares traded up to $28.35 from September 29’s low of $23.13; they’d been rising since then on rumours of the deal. Now the EMC shares are worth $24.10. The deal involves EMC shareholders getting $24.05 …
Chris Mellor, 21 Jan 2016
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Bye-bye, BT: Finance director jumps ship

BT has confirmed that its long-serving finance director Tony Chanmugam is to step down – the latest executive exit from the newly formed BT/EE. Chanmugam has held the role of finance director since 2008. He leaves following a "standout" quarter during the company's latest results and a major managerial and structural overhaul …
Kat Hall, 08 Feb 2016

Rackspace shares crater in drab results aftermath

Rackspace's shares have fallen off a cliff after the Texas cloud company reported less than glowing revenues. In a sign of the fractious affections of the financial market, the company's shares were down almost 25 per cent in trading on Thursday, following Wednesday's lackluster results. Though Rackspace grew revenue 20.2 per …
Jack Clark, 10 May 2013
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NetApp revenues and profits decline again despite positive spin

Despite its CEO saying NetApp was moving forward with clarity and speed in the data-powered digital era, NetApp recorded lower revenues and profits on the annual compare for its second fiscal 2016 quarter, ended October 20. Same old, same old. Revenues for the quarter were $1.45bn, six per cent down on the year-ago quarter’s $ …
Chris Mellor, 19 Nov 2015
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CommVault cries out in revenue pain as profits slam into reverse

CommVault's second quarter saw a deepening loss and continued revenue decline, putting the pressure to perform on its new software. Days after the CommVault Data Platform, the rebranded Simpana, was launched, CommVault's quarterly results showed the need for it and its hoped-for revenue pick-me-up properties. Revenues of $140 …
Chris Mellor, 27 Oct 2015

There's little spending on Big Data, object storage and OpenStack

A DataCore survey has shown little spending on sexy storage products in the Big Data, public cloud, object storage, and OpenStack areas, arguing software-defined storage (SDS) gives a faster payback. DataCore asked 477 IT professionals currently using or evaluating software-defined storage technology about their 2015 spending …
Chris Mellor, 13 May 2015
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RM’s core division will soon be resources, not tech, reckons analyst

The inevitable after-effects of withdrawing from hardware production and dwindling Building Schools for the Future contracts are leaving a huge hole at RM. The education specialist today filed interim results for the six months ended 31 May, and they make for good reading ... if you're a rival. Total revenue fell 13.3 per …
Paul Kunert, 06 Jul 2015
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Now Seagate posts declining results. Can new tech lift it upwards?

Seagate announced disappointing quarterly results but its underlying trends are positive as it makes big bets on new technologies. In the quarter ended September 27 Seagate’s revenues were $3.5 billion ($3.7 billion a year ago) with profits of $427 million ($582 million a year ago). The annual compare is coming off the tail-end …
Chris Mellor, 29 Oct 2013
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SAP profits dented despite cloud expansion

SAP has reported a drop in net profits for its most recent quarter and for 2015 despite an accelerating cloud business. Europe’s largest software firm saw net profit down two per cent to 1.2bn euro ($1.3bn) despite a growth in revenue of 16 per cent to 6.3bn ($6.8bn) euro. SAP was reporting for the period to December 31. As …
Gavin Clarke, 22 Jan 2016
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BT blames 'faulty router' for mega outage. Did they try turning it off and on again?

BT has blamed a faulty router for knocking its network offline yesterday, leaving hundreds of thousands of customers without the internet. The telecoms giant apologised for the failure, which began at around 2pm yesterday afternoon. Customers across the country were unable to get online, with reports of the outage affecting …
Kat Hall, 03 Feb 2016
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Peak Google? Chocolate Factory cuts costs amid dwindling growth

Google is curbing staff recruitment and introducing a number of penny-pinching efficiency practices to try and gets its profit growth back on track, according to reports. A number of recruiters, venture capitalists and employees told the Wall Street Journal the Chocolate Factory is casting an increasingly critical eye over its …
Kat Hall, 14 Jul 2015

Opinion

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Trevor Pott

Enterprises want them, but they're still a pain in the ASCII
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Chris Mellor

A VC with startup agenda slams established suppliers. Surprised? Neither were we
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Features

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The Azure Portal: Microsoft is betting on cloud for its future business
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Michael Dell. Pic by Joi Ito
Cool Texas dude is just your average billionaire