For the first quarter of fiscal 2015, HP reported revenue of $26.8 billion for a five percent year-over-year decline. Looking at specific segments within HP, software revenue was down by five percent, business critical systems revenue declined by nine percent while industry standard server revenue grew by seven percent.
HP’s Helion cloud business was also highlighted by Whitman as being a growth point. In particular Whitman detailed a new 10 year multi-billion dollar cloud win with Deutsche Bank. HP has not yet publicly disclosed the specific dollar amount for the deal. Whitman noted that the Deutsche Bank win was a deal that took nearly two years to come to fruition.
“We’re very proud of the Deutsche Bank win and it was a full on HP effort including our enterprise group, our software business, our cloud business as well as our services business and it was a services led win,” Whitman said. “I believe the reason that we won is we had the best technical solution for what Deutsche Bank needed, which was to reduce cost, reduce cost significantly by the way increase agility and migrate to a new world order of DevOps and a cloud-based environment.”