Articles about Cfo

Huawei_HQ_black_swan

Intel drafts in troubleshooting veteran for CFO slot

Intel has hired veteran tech CFO and sometime troubleshooter Bob Swan to take over from long-time numbers supremo Stacy Smith. Swan, or to give him his full press release name, Robert “Bob” H Swan, joins from equity outfit General Atlantic, where he was an operating partner. Stacy Smith, “as previously announced, is taking a …
Joe Fay, 20 Sep 2016
Cool guy with shades on. Photo by shutterstock

'We already do that, we’re just OG* enough to not call it DevOps'

At this point in the innovation curve for something like DevOps it’s fashionable to start asking “Where's the Return On Investment?” Answering that question is always tedious. For the hopeful, starry-eyed practitioner, spitting up the ROI figures is akin to the irrelevant water-carrying and wood-chopping trials imposed by a …
Michael Coté, 13 Sep 2016
Burning money, photo via Shutterstock

VMware sells Digital Fuel cost control code five years after buying it

VMware has sold vRealize Business Enterprise and IT benchmarking solutions, the financial management bits of its vRealize management suite, just four years after buying it. Back in 2011 VMware was bullish on what was then a company called Digital Fuel. The press release announcing the deal VMware's then veep and general …
Simon Sharwood, 13 Sep 2016
Samsung SUHD 5K TVs

Phones exploding in kids' hands, shares tanking – but it's not all good news at Samsung

Samsung is continuing to take a beating in the market as it staggers from the global recall of its Galaxy Note 7 handset. The Korean consumer electronics giant saw its stock price plummet 6.98 per cent on Monday to 1.46m Korean won per share. This resulted in roughly $15.9bn of value trimmed from Samsung's market cap on the …
Shaun Nichols, 12 Sep 2016
Michael Dell, photo: Dell

What's Dell brewing the day before its EMC mega-slurp? A latte money? Oh, a flat white

Dell has reported near-flat revenues for its second quarter of the year, up just 1 per cent from its position 12 months ago. The company pulled in revenues of $13.1bn in the three months to July 29, compared to just under $13bn this time last year. This generated an operating income of $63m, up from a loss of $103m 12 months …
Iain Thomson, 06 Sep 2016

Hey, uh ICANN. US govt here. You know we said we'd give you the keys to the 'net? Yeaahhh...

The US government has admitted its plan to move control of the internet's naming and numbering functions to a California non-profit next month may not move forward. In a letter [PDF] from the Department of Commerce (DoC) to ICANN sent August 31, the department's CFO gives the organization 30 days' notice that it may extend its …
Kieren McCarthy, 01 Sep 2016
Money laundering

'Fake CEO' Chinese chap cuffed in $54m fraud probe

Police in Hong Kong have arrested a Chinese man on charges of laundering the proceeds of an online robbery that netted millions of dollars. In January, Austrian engineering firm FACC – which makes aircraft parts for the likes of Boeing and Airbus – admitted that it had lost up to €50m ($54m) after someone impersonating the CEO …
Iain Thomson, 26 Aug 2016

Pure Storage notches up a 93 per cent growth rate. Not bad, not bad

Pure Storage grew revenues 93 per per cent year-on-year in its second fiscal 2017 quarter to a record $163.2m, achieving an annual run rate of $650m; the billion looks attainable. NetApp's all-flash array run rate is about $775m while EMC's is a past a billion dollars. The net loss was $59.6m, $4.2m less than a year ago and $3 …
Chris Mellor, 26 Aug 2016
Sprint

Pivot3 positions itself for possible IPO

Is an IPO being planned? Hyper-converged system supplier Pivot3 says it had record growth in the first half of 2016, with a 103 per cent revenue increase and more than 400 new customers, and has hired a new CFO. Bill Stover has been appointed Pivot3's finance head. Mike Dansby was the prior CFO, serving from June 2014 to July …
Chris Mellor, 13 Aug 2016
Hand holds green tea and sweetpotato soft serve ice cream cone. Looks delicious if you didn't know about the flavours though. Photo by Shutterstock

Bimodal IT: Let the backlash begin

Gartner defines Bimodal IT as: “the practice of managing two separate, coherent modes of IT delivery, one focused on stability and the other on agility. Mode 1 is traditional and sequential, emphasizing safety and accuracy. Mode 2 is exploratory and nonlinear, emphasizing agility and speed”. I find myself more than a little …
Dave Cartwright, 05 Aug 2016

Seagate inflates 12TB helium drives, floats them to IT bods to test

Backgrounder Seagate is seeing the storage market shift from client server to mobile cloud applications and storage environments. Although responding to this, it is encouraged by the capacity needs of the remaining PC client as well as significant growth in non-PC-client devices and applications. It talks of a new customer base that …
Chris Mellor, 03 Aug 2016
Man counts pounds and pence. Photo by Shutterstock

Post-Brexit spending freeze in UK is real, says enterprise distie titan

Arrow Electronics Inc’s Enterprise tech division in Britain was struck by delayed spending among customers following the outcome of the EU Referendum, the distributor’s chief bean-counter claimed last night. CFO Chris Stansbury estimated “late purchases and weakening of accounts” after the 24 June vote “negatively impacted our …
Paul Kunert, 03 Aug 2016
Colleague high fives in the office. Photo by Shutterstock

Why Big Business is usually last to the party

Big businesses tend to be exceptionally risk averse. There's a general reluctance to adopt new, bleeding-edge technology because the priority – understandably – is to be able to maintain productivity. Small companies can live with the occasional glitch in systems – a couple of dozen people without email for a couple of hours …
Dave Cartwright, 29 Jul 2016

Bezos bags bonkers bucks as almighty AWS astounds again

Amazon Web Services (AWS) is on a roll after closing a financial quarter in which its operating income more than doubled. Amazon as a whole posted a solid quarter, with net sales of $30.4bn, up from $23.1bn, and net income of $857m, up from $92m. Much of that was due to the success of the cloud computing business. For the Q2 …
Shaun Nichols, 29 Jul 2016
Google's Sundar Pichai, speaking at Google I/O 2015

Google, er, Alphabet takes on 10,000 more staff, banks more and more billions from ads

Alphabet, the holding company for Google and the Chocolate Factory's other concerns, has reported strong growth in the second quarter ending June 30, with revenues up 21 per cent from this time last year. Google made up the vast majority of this revenue, accounting for $21.3bn for the quarter, with the other parts of Alphabet …
Iain Thomson, 28 Jul 2016

Someone (cough, cough VeriSign) just gave ICANN $135m for the rights to .web

An unnamed organization just paid $135m for the rights to sell ".web" domain names. This is three times the previous record of $45m for .shop, and seven times the average auction price for top-level domains. The massive price tag has raised eyebrows in the domain name industry, not least because one of the companies taking …
Kieren McCarthy, 28 Jul 2016
Lady  standing on a hand with a megaphone shouting into mans ear

QLogic boosted profits 700% in a year. What's that chomping sound?

In its last quarter as an independent company, QLogic grew revenues 2.6 per cent and profits by 700 per cent in a year. Its future lies inside Cavium and it has to deal with a declining Fibre Channel business. Revenues of $116.4m were ahead of the year-ago $113.4m but down on the seasonally-higher prior quarter’s $119.4m. Net …
Chris Mellor, 27 Jul 2016

Hans off! Ericsson unplugs CEO after gräsliga results

Ericsson CEO Hans Vestberg has been unceremoniously dumped after another set of disappointing results. The Swedish telecoms' board unanimously decided to ditch their chief exec after he failed to meet analyst expectations, despite having slashed jobs and done his best to cut costs. He has been at the company for 28 years and …
Kieren McCarthy, 25 Jul 2016
udp_7000_648

Data protection biz Arcserve fattens exec ranks with 3 new veeps

CA spinout and private equity-owned Arcserve is growing revenues at double digits, and has hired four new execs to sharpen its finance side, spin out more and better products and keep its channel business growing. Oussama El-Hilali becomes VP of Products, responsible for managing research and development, product strategy and …
Chris Mellor, 25 Jul 2016
Microsoft CEO Satya Nadella

Microsoft Azure doubles up to $800m a quarter – and is wiped out by dying phone sales

Analysis All eyes were on Microsoft's cloud business today as it published its fourth-quarter and full-year financial results. Amid the numbers, Redmond boasted that its Azure revenues from the quarter were up 102 per cent year-on-year – we estimate the cloud service's revenue to be about $800m in total for the period. Meanwhile, …
Iain Thomson, 20 Jul 2016

EMC: Sales flat but wallets fat. Ready to vote on the merger?

EMC-Dell deal EMC saw totally flat revenues in its second quarter but profits rose 19 per cent. It could have been better as late orders couldn't be fulfilled. Revenues were a straight $6bn, unchanged from a year ago but up 9.6 per cent sequentially. They were $5.9bn two years ago so EMC is arguably standing still revenue-wise. Net income …
Chris Mellor, 19 Jul 2016
results

What's big, blue and red all over? IBM. Profit, z Systems down, cloud up

IBM today reported its second quarter financial results and the figures don't look good, with profits falling nearly 30 per cent. The venerable computing giant did perform slightly better than analysts expected, however GAAP revenues and profits are both down year-on-year. It's the 17th straight quarter of revenue declines for …
Iain Thomson, 18 Jul 2016
Ronan Dunne, CEO of O2

Ronan Dunne jumps O2 ship

Head of O2 Ronan Dunne - he of "sending staff to Capita is better than redundancy" fame - has stepped down from the biz after eight years. Dunne will be replaced by chief financial officer Mark Evans, who has been CFO since 2012. Dunne will step down from the board on 31 July, but will continue to "support the business with …
Kat Hall, 15 Jul 2016
Barracuda_cloud_sea

Barracuda picks teeth after chowing down on cloud market

Revenues grew 11 per cent year-over-year to $86.7m in Barracuda’s first fiscal 2017 quarter, confirming its return to growth. Net income was $2.8m. Recurring subscription revenue grew to $65.3m, up 20 per cent from $54.3m in the year-ago quarter and 75 per cent of total revenue. Appliance revenue though, was down, at $21.3m, …
Chris Mellor, 08 Jul 2016
Gridstore HCA

Gridstore eyes up container upstart DCHQ

Updated Hyper-V-based hyper-converged startup Gridstore is in talks to buy DCHQ. Gridstore had hoped to formally announce the acquisition today, but told The Register the deal is still being worked out. It also considered renaming itself Hypergrid after completing the transaction. Gridstore pressed the eject button for CEO George …
Chris Mellor, 07 Jul 2016
Daisywheel with Courier font

WD expects good quarter

Western Digital Corp (WDC) expects revenues of $3.46bn in the just-closed quarter, instead of the forecast $3.35bn - $3.45bn range – $3.4bn at the mid-point. This is its fourth fiscal 2016 quarter and the first with SanDisk results included. CFO Olivier Leonetti is leaving on September 1, with chief strategy officer and EVP …
Chris Mellor, 07 Jul 2016
Railway line split. Pic: Ian Sane

Neustar to split in two

Information services company Neustar will split into two separate public companies, it announced Tuesday. The split will see its current security, marketing and related data services put into one company and its traditional order management and numbering services in another. Current CEO Lisa Hook will run the first, and …
Kieren McCarthy, 21 Jun 2016
sale

Confirmed: Dell software sell-off

Dell has confirmed rumors that it is selling off its software division to private equity firms Francisco Partners and Elliott Management. "Francisco Partners and Elliott Management's deep passion for technology and proven track records in nurturing and building software businesses will enable Dell Software's loyal base of …
Iain Thomson, 20 Jun 2016
 Good GCSEs should cost parents a Jesus-phone

Here's what six storage suppliers will be doing for the next year or two

Analyst haus Stifel Nicolaus' MD, Aaron Rakers, has had some fireside chats with senior execs from Brocade and QLogic, Pure and Nimble, Seagate and WDC at a Stifel Nicolaus Technology, Internet & Media Conference in San Francisco. The execs gave their thoughts on HDD demand, HAMR HDD tech, NVME over fabrics, Gen 6 Fibre …
Chris Mellor, 10 Jun 2016
Type arms of an old typewriter

WANdisco needs £ + CFO

WANdisco's CFO has departed for pastures new as the big data business looks to raise $15m in yet another public offering. The company, which is less exciting that its abbreviated name ("WANdisco" = "wide area network distributed computing"), has been "loss-making to date". It chasing down more cash to maintain current levels …
Train wreck

The screeching of Violin Memory's parting strings is horrible

Another great quarter. Not. Violin Memory made a paltry $9.7m in revenue and posted a $22m loss for its first fiscal 2017 quarter. Revenues were down 20 per cent on the year-ago quarter and 11 per cent on the previous quarter, the fourth fiscal 2016 quarter, when revenues of $10.9m and losses of $25.5m were followed by lay- …
Chris Mellor, 27 May 2016

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