Articles about Cfo

Q. What do you call a sales-growing letdown? A. Pure Storage

All-flash shipper Pure Storage delivered higher-than-expected revenue for its first fiscal 2017 quarter, but also had the first quarter-on-quarter revenue decline in its history since the IPO. Analysts thought it could have done better. Is this seasonality emerging for the first time or was there some other reason its turbo- …
Chris Mellor, 26 May 2016

Hard-up Sprint rents out Hz

Continuing its efforts to drum up cash and recover from losses, Sprint is going to be leasing off some of its 2.5GHz spectrum holdings. CFO Tarek Robbiati said recently that the leasing operation that saw Sprint sell and then take a lease on its own network equipment could soon be expanded to include the sale of Sprint's …
Shaun Nichols, 26 May 2016
George_Kurian

NetApp posts $8m loss as its pivot continues. Feeling comfy, George?

In its fourth fiscal 2016 quarter NetApp revenues were $1.38bn instead of the $1.425bn predicted at the mid-point of its last forecast, and the company made an $8m loss – the second in George Kurian’s tenure as CEO. The revenues were down 10.4 per cent on a year ago and 0.4 per cent from the previous quarter. A year ago NetApp …
Chris Mellor, 26 May 2016

Republicans threaten to derail internet transition

Republican congressmen are increasing their efforts to delay transition of a critical piece of internet infrastructure from the US government to a non-profit organization based in California. For the third time, a House Appropriations subcommittee has included a provision in a must-pass bill that would prevent the Department …
Kieren McCarthy, 19 May 2016
Titanic sinking

Symantec: I know we said things'd get better when we sold Veritas...

Symantec is slipping back into cost-cutting mode just months after the split with storage arm Veritas was supposed to provide the healing balm the business so clearly needed. The standalone security biz wants to carve out savings of $400m via an “efficiency programme” that includes “eliminating stranded costs” from the sale of …
Paul Kunert, 13 May 2016
HBO: Game of Thrones

The Quantum of Solace: You've still got tape. Don't forget that

Quantum’s latest results show that scale-out storage is still not growing fast enough to outweigh declining tape storage revenues – and Quantum is still a shrinking business. Let’s do the annual numbers to show the big picture first. Revenues for the full fiscal 2016 year, ended 31 March, were $475.9m, down 14 per cent year- …
Chris Mellor, 11 May 2016
Live news illustration with microphones and cameras

Qlogic beats own estimate

Storage connctivity biz QLogic beat estimates with a Q4 revenue raise. Instead of the expected $116m, QLogic revenues were $119.4m in its fourth fiscal 2016 quarter, down 10.5 per cent year-on-year and, as seasonally expected, down 2.7 per cent on the prior quarter. Full fy2016 revenues were $458.9m, 11.8 per cent less than …
Chris Mellor, 06 May 2016
Marissa Meyer

CEO! Mayer! to! get! $55m!

Yahoo! CEO Marissa Mayer is in line for a $55m payout following the web company's sale. The Purple Palace broke the news on Friday with an SEC filing [PDF] that details the payout Mayer and other execs will get once a sale goes through and a "change in control" severance plan is triggered. Under the plan, Mayer will bank a …
Shaun Nichols, 02 May 2016
Job cuts jpeg

Avnet checks legacy data kit sales stats, panics

Enterprise tech distie Avnet Technology Solutions is back in cost cutting mode amid fears that flakey demand for “legacy” tech will continue. The firm reported an 8.3 per cent decline in sales of $2.13bn for Q3 of fiscal ’16 ended 2 April, this was down 6.9 per cent in constant currency. The top line was at the “low-end of …
Paul Kunert, 29 Apr 2016
Trillian chats to a depressed Marvin the Robot in the 2005 film version of Hitchhiker's Guide to Galaxy. C Walt Disney Pictures

Food for Deep Thought: 42 is IBM's answer to Life, the Universe and Everything...

Analysis Deep Thought calculated the number 42 to be the Answer to the Ultimate Question of Life, the Universe and Everything. Over at IBM it was the frequency the word "transform" was used to explain another dire quarter. The supercomputer in The Hitchhiker's Guide to the Galaxy took 7.5 million years to determine the importance of …
Paul Kunert, 29 Apr 2016
Amazon CEO Jeff Bezos

Amazon's AWS cash machine embiggens, breezes past $2bn-a-quarter mark

Amazon has reported bumper first quarter results, with profits of $513m and sales increasing 28 per cent. In its previous quarterly results Amazon's stock took a beating after the company reported a lower than expected sales. After Thursday's results, the company was back in favor and saw its stock price rise over 10 per cent …
Iain Thomson, 28 Apr 2016

Chomp! Barracuda gets its bite back after turning a profit again

The sum of $83.7m exceeded Barracuda’s revenue estimates for its fourth fiscal 2016 quarter, ended Feb 29, 2016. It was a 16 per cent rise year-on-year and a 4.5 per cent rise quarter-on-quarter. There was a $3.2m net profit, pleasing after five straight loss-making quarters. The full year revenue number was $320.2m, 15.4 per …
Chris Mellor, 28 Apr 2016

VMware cloud gros fromage packs his bags and takes a hike

At some point you have to say this is starting to look like a rout. VMware EVP Bill Fathers is taking a hike, no longer content to be general manager of the cloud services business unit. Father's responsibilities will be shared between two cloud co-general managers, Allwyn Sequeira and Laura Ortman, who will report to VMware …
Chris Mellor, 28 Apr 2016
K2

Dell looking at higher debt mountain to buy EMC

Dell is facing its EMC acquisition debt mountain growing yet higher because the Wall St bond market will need higher interest payments to fund the deal. That could highlight product overlap costs to ex-money man David Goulden who will run the new Enterprise Systems Group, covering its servers, storage, networking, converged …
Chris Mellor, 22 Apr 2016
Strom Clouds

Stalled cloud growth, software flatlining, hated Lumias unsold... It's all fine, says Microsoft CEO

Microsoft is putting a brave face on disappointing third-quarter earnings that saw profits fall 25 per cent year-on-year and cloud revenues failing to rise fast enough to offset losses in other areas. Earnings per share were $0.62 non-GAAP, down 23 per cent from 2015, compared to analysts' estimates of $0.64. "We had a solid …
Iain Thomson, 21 Apr 2016
Google_skull

When is making $20bn in three months not enough? When your name is Google

Google parent company Alphabet is feeling the heat after it failed to reach earnings targets this past quarter. The Chocolate Factory took a beating on Wall Street after it reported non-GAAP earnings of $7.50 per share in its 2016 Q1 period, which ended in March. Analysts had expected earnings of at least 7.96 per share. Here' …
Shaun Nichols, 21 Apr 2016

12,000 chopped: Intel finds its inner paranoid

Only the Paranoid Survive, or so former Intel chief executive Andy Grove once wrote. And it seems that, faced with the demise of the PC market, Intel CEO Brian Krzanich has found his inner Andy Grove. Grove, who died last month aged 79, left both an awesome business record and some great quotes behind him. While Intel co- …
BOLIVIA, UYUNI, 17 SEPTEMBER 2014 - Internet and mobile communications in Uyuni, Bolivia, South America - pic via shutterstock

Cashman steadies ship: EMC revenues shrink, profits fatten

EMC saw a slight revenue decline year-on-year in the first 2016 quarter, with Latin America a trouble spot. Revenues of $5.5bn were 2 per cent down year-on-year from $5.6bn. However profits, of $268m were 6.3 per cent higher year-on-year EMC’s first quarter is seasonally weaker than its fourth quarter and, indeed, the fourth …
Chris Mellor, 20 Apr 2016
Sad man stares glumly over boxed contents of desk. Image via shutterstock (Baranq)

Intel literally decimates workforce: 12,000 will be axed, CFO shifts to sales

Intel will axe 12,000 employees globally – more than one in ten of its workforce – as it moves further away from being a PC chip company. The layoffs are among the biggest into the company's history, and come as PC industry continues to tank harder than Intel expected. The Santa Clara-based biz sees a lot of growth in the …
Chris Williams, 19 Apr 2016
The CST-100 descends by parachute with airbags deployed. Pic: Boeing

Oh dear, IBM. Storage isn't looking like a cash cow any more, is it?

IBM's storage hardware revenues continue falling as growth businesses stay submerged under the declining ones. In its first quarter of 2016 results, IBM's storage hardware revenues were, at $433.5m, six per cent down year-on-year, continuing the now familiar trend. This was a billion-dollar-a-quarter business in the fourth …
Chris Mellor, 19 Apr 2016
Train wreck

IBM shuffles units, axes staff, sees profit shrink

IBM's attempts to re-organize its businesses and focus on its Watson cloud-AI-offering-thing did not prevent Big Blue from tumbling to its sixteenth consecutive quarter of falling revenue. The enterprise giant said on Monday that its new "reporting structures" will show how it is focusing on growth markets like cloud services …
Shaun Nichols, 19 Apr 2016
Gridstore HCA

Gridstore boss George Symons ejects, leaves hyper-upstart headless

Gridstore CEO George Symons left the company in February after almost three years at the helm, with no successor appointed. The Mountain View, California, biz is a hyper-converged infrastructure startup focussing on Microsoft's Hyper-V hypervisor. Symons is no longer listed as CEO on the company's website and, indeed, no CEO …
Chris Mellor, 18 Apr 2016

Mitel nabs Polycom in $1.96bn deal

Elliott Management has struck again: Mitel has agreed to cough $1.96bn for bigger unified comms rival Polycom some months after the activist investor took a stake in both businesses and started the match-making. The $23bn hedge fund took a 6.6 per cent stake in Polycom and 9.6 per cent in Mitel in October and was calling for …
Paul Kunert, 15 Apr 2016

Fake CEOs pilfer $2.3bn from US biz pockets in three years – Feds

Scammers have bilked American companies out of $2.3bn from 17,642 victims since 2013, the FBI has warned, and the problem is going to get worse before it gets better. Basically, the hustle works like this: miscreants pretending to be top bosses send emails to employees, particularly those handling sensitive financial …
Iain Thomson, 07 Apr 2016
Pawn Shop

Cash-strapped Sprint to raise $2.2bn by flogging off its network hardware

Mobile carrier Sprint says it will raise $2.2bn by selling and then re-lease its own network hardware. The SoftBank-owned US telco said it will use money from the sale to return to profitability by providing a much-needed infusion of cash, as it works to turn around a business that had become a cash sink. "Sprint and SoftBank …
Shaun Nichols, 07 Apr 2016

Twitter spends $10m on rights to cover Thursday-night NFL games

Twitter has paid a reported $10m for the streaming rights to ten NFL games later this year, surprising many and leaving some scratching their head. The one-million-dollars-a-game deal allows the social media company to rebroadcast the stream from network giants CBS and NBC who have paid $450m for the rights to broadcast the …
Kieren McCarthy, 05 Apr 2016

SEC chair blasts Silicon Valley for its hokey valuations

The chair of the US Securities and Exchange Commission (SEC) has given Silicon Valley a poke in the eye concerning its over-valuation of tech stocks. Speaking at Stanford University in the heart of Silicon Valley, Mary Jo White warned that the federal regulator did not look kindly on the wild – and wildly inaccurate – self- …
Kieren McCarthy, 01 Apr 2016
Micron_P300_SSD_detail

Micron turns $900m profits into a $97m loss. Only took 12 months

Micron revenues plummeted for the fifth quarter in a row and it made a loss after eleven successive profitable quarters. What's up with the boys from Boise, the USA's memory and NAND powerhouse? Revenues for the second quarter, ended 3 March, were $2.93bn, 29.7 per cent down on a year ago, and 12.3 per cent less than the first …
Chris Mellor, 01 Apr 2016
Godzila

Apeiron reckons it's the Godzilla of upstart flash arrays

Storage upstart Apeiron's array is a Godzilla of all-flash arrays, delivering up to 3PB of capacity, 120-plus million IOPS and less than three microseconds' latency from a rackful of its ADS1000 array built from separate, scale-out, compute and storage nodes. Apeiron Data Systems has boldly stepped out from behind the stealth …
Chris Mellor, 29 Mar 2016

Pandora punch-up sees CEO exit, shares drop

A row over the future of music streaming service Pandora has led to the departure of its CEO and the return of the company's founder to the position. Shares in the company have dropped 10 per cent on the news that Brian McAndrews will leave as the company's chief exec, effective immediately, and be replaced by Tim Westergren, …
Kieren McCarthy, 28 Mar 2016
Game of Thrones

She's coming... the Chief Data Officer

The chief data officer is on the rise. The number of CDOs appointed by major organisations rose from 400 in 2014 to 1,000 in 2015, according to Gartner. By 2019, 90 per cent will have a CDO, the analyst says. Their rapid emergence raises important questions about the role and position of the CDO in organisations. More …
Mark Samuels, 17 Mar 2016
Violin

Violin Memory axes quarter of its staff after finances hit a bum note

Violin Memory has become a sub-$50-million-run-rate company with its latest loss-making quarter, and announced a 25 per cent head count cut in a restructuring exercise. The beleaguered all-flash array company saw revenues in its fourth fiscal 2016 quarter, ended Jan 31, of just $10.9m, the lowest amount in more than three …
Chris Mellor, 10 Mar 2016
Grave Digger monster truck

Yahoo! recruits! two! more! pallbearers!

Two new members have been added to Yahoo!'s board of directors as the web biz continues to ponder its future. The Purple Palace announced on Thursday that former Morgan Stanley managing director Catherine Friedman and former Broadcom CFO Erik Brandt would take the seats vacated last year when Charles Schwab and Max Levchin …
Shaun Nichols, 10 Mar 2016

Systemax bleeds cash, reports $100m net loss for 2015

The cost of exiting its North America reseller biz propelled Systemax’s net losses to nearly $100m in calendar 2015 - but European ops might just be finally showing some signs of recovery. The supplier, in the midst of a turnaround strategy, offloaded the Technology Group reseller biz in December to PCM for $14m but then …
Paul Kunert, 09 Mar 2016

Looking behind HPE Storage's top-line revenue numbers

Analysis HPE’s traditional storage declined faster in the first 2016 quarter than the newer converged storage revenues rose. Hence the storage segment in HPE’s Enterprise Group was down three per cent year-on-year to $810mn, from $837m. It was also down sequentially, quarter-on-quarter, from $810m in the fourth 2015 quarter. In …
Chris Mellor, 07 Mar 2016
Ice_hockey_game

Pretty, Nimble, but these financials just aren't nimble enough

Nimble Storage’s revenues rose to $90.1m in its fourth fiscal 2016 quarter but its losses deepened, to $32.4m, counter-balancing that good news. Overall revenues didn’t rise enough to assuage investors' concerns about future profitability. The company has fixed the big hole in its product line with the release of an all-flash …
Chris Mellor, 04 Mar 2016
Graph of US dollar going up CC 2.0 https://www.flickr.com/photos/68751915@N05/ 401kcalculator.org.

LCD price fixing settlement helps sweeten Tech Data's bottom line

A $35m settlement from LCD vendors over price fixing coupled with some general belt tightening on operating costs helped Tech Data bank a double digit profit bounce in Q4 of fiscal ’16. The world’s second largest tech distributor reported sales of $7.48bn for the three months ended 31 January, up two per cent year-on-year. In …
Paul Kunert, 04 Mar 2016

Worried by VMware's executive exodus? Dell should be

“To lose one parent may be regarded as a misfortune,” Oscar Wilde is reputed to have said, before adding “to lose both looks like carelessness.” What, then, to say of VMware? In recent weeks has lost a chief financial officer Johnathan Chadwick, the brains behind its NSX network virtualisation product Martin Casado, and now …
Simon Sharwood, 04 Mar 2016

Pure pleasure with stonking final fiscal 2016 quarter

It was pure pleasure as Pure Storage reported a final fiscal 2016 quarter with revenues up higher than expected and losses down. The company reported fourth-quarter revenues of $150.2m, a 128 per cent increase from the year-ago quarter and a 14 per cent rise from the third quarter's $131.4m. There was a net loss of ‑$44.3 …
Chris Mellor, 03 Mar 2016
Michael Dell, photo: Dell

Dell names future leadership team and CloudFather Joe Tucci isn't on the list

Michael Dell has emailed all staff at Dell, the company, to reveal the organisation's leadership team once it acquires EMC. The email starts by saying “We are making strong progress on our plans to combine Dell and EMC … The transaction is on schedule under the original timetable and the original terms.” The mail goes on to …
Simon Sharwood, 02 Mar 2016
management strategy4

VMware second-in-command quits for venture cap land

Amid a flurry of senior personnel changes, VMware is parting with a long serving exec that joined when it was a fledgling virty biz. President and chief operations officer Carl Eschenbach is set to head out of the door marked exit, staff were told today in an internal memo. The company confirmed to us he is quitting …
Paul Kunert, 01 Mar 2016
Bill Murray in the movie Groundhog Day. If you haven't seen it, it's about a man forced to endure reliving the same day over and over. Pic: Columbia Pictures

NBN rollout behind target, claims yet another leaked report

The company charged with building and operating Australia's National Broadband Network (NBN) is denying a Fairfax media report that its multi-technology model (MTM) rollout is stalling. Over the weekend, The Sydney Morning Herald got its hands on a leaked nbnTM internal document dated February 19 suggesting a slow-down. …
HP ZBook 17 mobile workstation

Who hit you, HP Inc? 'Windows 10! It's all Windows 10's fault'

HP Ink – the PC and printers half of the Hewlett-Packard split – has blamed Windows 10 for a ho-hum quarter of declining sales. "Windows 10 is a tremendous operating system platform," HP Ink CEO Dion Weisler told analysts and investors on a conference call on Wednesday afternoon. "But we have not yet seen the anticipated Win10 …
Chris Williams, 25 Feb 2016
empty_pockets_648

Got Oracle? Got VMware? Going cloud? You could be stung for huge licensing fees

Oracle has been telling a number of organisations running its database software that they are breaking the company's licensing rules – and therefore owe it millions of dollars in unpaid licence fees. The issue hit the headlines in January after US confectionery giant Mars took Oracle to court in the US over claims Mars had …
Gavin Clarke, 24 Feb 2016
Roof of Crawley datacenter

Nasuni sees cloud killing on-premises storage

Cloud storage gateway supplier Nasuni is growing fast as more and more file storage passes through its gateway. 2015 was a solid year for the firm, and, according to Nasuni itself, these were some of its highlights: A record number of new customers in 2015 drove 70 per cent growth in capacity subscription revenue over 2014 …
Chris Mellor, 23 Feb 2016
NVidia aims to gives games power to handhelds

PC sales aren't doing so great – but good God, you're buying mountains of Nvidia graphics cards

If you thought the slump in PC sales was going to hit Nvidia like it whacked Intel and AMD, then, well, you were wrong. Nv just reported a record quarter to round off a record year in terms of sales. In the three months to January 31, revenues from the graphics chip giant's PC cards rose 25.4 per cent on the year-ago period to …
Chris Williams, 18 Feb 2016
Cisco RFGW-1-D Edge QAM

Enterprise network spend hits the brakes – and Cisco's OK with that

The financial market turmoil that's characterized 2016 has led Cisco to set modest expectations for the coming three months. Having said that, the networking giant is pleased with its performance in Q2 of its fiscal 2016, aka the quarter to January 23. Its US$11.8bn second quarter revenue (normalized to exclude the cable …
You're fired dialog box

2016 tech shakeout starts with CxO exodus

Analysis The rumblings of over-priced tech stocks, made real last month in above-market share falls, have started hitting home with a series of high-profile exits this week. Gone are Zenefits CEO Parker Conrad, Imagination Technologies CEO Hossein Yassaie, Yelp CFO Rob Krolik and Paypal CTO James Barrese. All resigned, although it has …
Kieren McCarthy, 09 Feb 2016

Verizon!–Yahoo! takeover! inches! ahead!

Verizon has decided its Yahoo! strategy is important enough to occupy the attention of the CEO of its AOL business unit. Accordingly, Tim Armstrong has been set the task of ringing Marissa Mayer's doorbell, chocolates, flowers and a huge bag of money in hand. Verizon had already (somewhat inexplicably) identified Yahoo! as a …
decline

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