HP 2015 Annual Report Download - page 72
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Table of Contents
Enterprise Services
The components of the net revenue and weighted net revenue change by business unit were as follows:
ES net revenue decreased 11.6% (decreased 5.7% on a constant currency basis) in fiscal 2015. Performance in ES remained challenged by the impact of
several large contracts winding down. The net revenue decrease in ES was due primarily to unfavorable currency impacts, revenue runoff in key accounts and
weak growth in new and existing accounts, partially offset by growth in our SES portfolio which includes analytics and data management, security and cloud
services. Net revenue in ITO decreased by 14% in fiscal 2015 due to unfavorable currency impacts, revenue runoff in key accounts and weak growth in new
and existing accounts, particularly in EMEA in the first half of fiscal 2015, partially offset by growth in SES revenue in the second half of fiscal 2015. Net
revenue in Application and Business Services ("ABS") declined by 8% in fiscal 2015, due to unfavorable currency impacts and weak growth in new and
existing accounts particularly in the first half of fiscal 2015, partially offset by growth in SES net revenue in the second half of fiscal 2015.
ES earnings from operations as a percentage of net revenue increased 1.7 percentage points in fiscal 2015. The increase in operating margin was due to
an increase in gross margin and a decrease in
70
Net revenue $ 19,806 $ 22,398 $ 24,061
Earnings from operations $ 1,051 $ 816 $ 693
Earnings from operations as a % of net revenue 5.3% 3.6% 2.9%
Infrastructure Technology Outsourcing $ 12,107 $ 14,038 (8.6)
Application and Business Services 7,699 8,360 (3.0)
Total Enterprise Services $ 19,806 $ 22,398 (11.6)
Infrastructure Technology Outsourcing $ 14,038 $ 15,223 (4.9)
Application and Business Services 8,360 8,838 (2.0)
Total Enterprise Services $ 22,398 $ 24,061 (6.9)
Source: HP INC, 10-K, December 16, 2015 Powered by Morningstar® Document Research℠
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