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HP2-K19 Selling HP industry Class Storage(R) Solutions

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HP2-K19 exam Dumps Source : Selling HP industry Class Storage(R) Solutions

Test Code : HP2-K19
Test appellation : Selling HP industry Class Storage(R) Solutions
Vendor appellation : HP
exam questions : 61 real Questions

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HP Selling HP industry Class

HP Dodges suit Over Jailed China-primarily based Salesmen | killexams.com real Questions and Pass4sure dumps

Law360 (November 21, 2018, 7:30 PM EST) -- Hewlett Packard enterprise Co. and its associates avoided a lawsuit Wednesday accusing the application immense of inflicting the imprisonment of three salesmen based in China over the sale of counterfeit laptop...

Black Friday 2018 offers: iPad for $250 now, Microsoft floor seasoned bundle for $800, and different gaming computing device, Chromebook, pill revenue | killexams.com real Questions and Pass4sure dumps

origin-pc-eon15-s-2017-02.jpg

origin pc is discounting its EON15-S gaming gadget.

Sarah Tew/CNET

Black Friday is once again proving itself to subsist the most excellent time of the yr to seize offers on tablets, computers and monitors. And even though they had been a bit of late to the birthday celebration this 12 months, the gaming companies abide now emerged with offers in hand, and they now abide delivered a bunch of them to the gaming programs subcategory under. There are already a bunch of priceless discounts accessible now -- and more kicking off over the next few days.

each retailer that sells computer systems -- pcs and laptops, Chromebooks and gaming rigs, capsules and convertibles -- is looking to filter out stock before the conclusion of 2018. We're seeing a lot of markdowns on older machines and configurations featuring Intel's worn seventh-gen processors. that's now not to pretense that manufacturer-new methods with reducing-side tech are not on sale. they are.

We're additionally seeing how extended competition within the tablet market is riding down fees this 12 months. on the lofty conclusion, the rash of newly introduced capsules in October from Apple, Google and Microsoft has already yielded one dynamite deal: a company-new Microsoft surface seasoned bundled with a floor Pen and kind cover keyboard for $800 at Costco (word this deal is silent attainable, but backordered unless December). And the newest Apple iPad seems to subsist an early favorite this yr, accessible now for $250 -- it is an $eighty deal -- in distinctive outlets.

also, workplace Depot appears to subsist undercutting many other retailers with a handful of advanced offers this year. contributors of its rewards program will tangle early access to a few of them dawn Nov. 21. Plus, the purchase of a computer that expenses $300 or more makes you eligible for freebies together with Microsoft workplace, a SquareTrade protection map and other tech uphold features. 

Now enjoying: Watch this: tricks to rating added expense downs on Black Friday and Cyber...

2:06

As total the time, abide in wit the caveats. Some of those deals might besides already subsist are living today, some will launch over the following couple of days and others might not birth except Black Friday, Nov. 23. moreover:

  • deals and costs were demonstrated and up to date as of Wednesday, Nov. 21 at 7 p.m. PT. modern updates encompass fresh offers from Apple, origin computer and Alienware, and updated tips about Walmart's Lenovo Ideapad 330s deal.
  • The offers under are available from corporations including Amazon, most desirable buy, Costco, Dell (and Alienware), HP, office Depot, starting Place pc, target, Sam's club, Staples and Walmart. When greater are available, they are going to consist of them too. 
  • CNET might besides tangle a participate of revenue from the sale of the products featured on this page.
  • We linked to the present checklist on the retailer's web site when one become purchasable, but of direction sale pricing won't subsist obtainable except the respective income start.
  • drugs 2018 Apple iPad (gold, 32GB) for $250 ($80 off)

    Apple made its entry-stage iPad even enhanced with the latest version, released in March. Amazon is currently selling it for $250, which is likely to subsist the lowest cost they are going to note this 12 months. This deal is besides accessible at Walmart, and it might pop up at goal and in other places, too. in the meantime, best buy is presently promoting it for $300.

    Deal purchasable Nov. 22-24.

    note at Amazon examine the CNET evaluate surface seasoned 6 with surface Pen and ilk cover for $800 (save $200) Sarah Tew/CNET

    Buried profound in Costco's extended Black Friday circular is a gem of a bundle: a brand fresh floor professional 6 with Intel Core i5, floor Pen and surface ilk cowl for $800. typically, the finished set would pervade greater than $1,a hundred.

    be awake that gold yardstick buy additionally has an outstanding floor pro bundle: You tangle the latest version of the pill (albeit with a lesser Core m3 processor and just 128GB of storage) and the keyboard for $600. The pen, which charges $100, is not included. however silent -- that brings the expense of the entire enchilada to $seven hundred. 

    The Costco deal is accessible now for members via Nov. 26 -- although Costco says the product is backordered and never anticipated to ship except Dec. 5-21. 

    note at Costco study the CNET overview Amazon hearth HD 10 tablet with Alexa arms-Free for $100 ($50 off)

    Amazon will carve expense a bunch of its tablets, together with the fireplace HD 10, which become already a superb cost at $a hundred and fifty. At $one hundred, this fire tablet, with its high-res screen, stout efficiency and 32GB of storage, is a total steal. 

    while different sellers, together with most advantageous purchase, goal and Staples, abide announced similar prices for Black Friday, Amazon has already begun discounting its personal capsules:

    note at Amazon examine the CNET review Laptops  Lenovo IdeaPad 330s with Core i5 and 1TB challenging pressure for $349 ($one hundred fifty off) Sarah Tew/CNET

    it's not the fanciest laptop in the world, nonetheless it is slim and light. And Walmart's configuration, which has an eighth-gen Intel Core i5 processor and 1TB difficult drive, is a extraordinary value.

    be awake that Costco and Staples are additionally selling discounted types of this model on Black Friday, even though the Staples deal is available in stores most effective, now not online. Costco's deal starts on Thanksgiving Day, Nov. 22, and is available on-line handiest.

    Walmart's deal is attainable now.

    note at Walmart read the CNET assessment HP Pavilion X360 15.6-inch convertible for $500

    Walmart has a superb deal on the convertible edition of HP's Pavilion x360. You tangle an eighth-gen Intel Core i3 plus 8GB of RAM and a major 1TB difficult drive. 

    Deal starts Nov. 21 at 10 p.m. ET online and Nov. 22 at 6 p.m. in stores.

    update: this is now unluckily out of stock.

    note at Walmart Huawei MateBook X pro for $1,350 (retailer $one hundred fifty)

    This laptop is compact and light-weight, has a stellar sRGB betray and extremely respectable sound device and gives you solid efficiency for its size. here is the finest rate now they abide seen.

    Deal attainable now via Nov. 26.

    note at Microsoft read the CNET assessment HP 15t computer with Intel Core i7 for $530 ($710 off)

    here is a high-quality deal on an outstanding machine with a a bit older, although excessive-end processor. You tangle a 15.6-inch touchscreen with a seventh-gen Core i7 CPU plus 8GB of RAM and a 1TB tough force.

    This deal is available now via Nov. 21.

    note at HP HP Pavilion X360 with Intel Core i7 and 1TB tough drive for $450 ($350 off)

    loads of agents abide deals happening this laptop -- but they abide not considered any more desirable than this one from office Depot. HP model 15-da0086od points some killer components together with a Core i7 CPU, 8GB of RAM and an immense 1TB complicated pressure. 

    Staples is promoting an identical version for $500.

    workplace Depot's deal begins on Thanksgiving Day, Nov. 22, at 12:01 a.m. ET.

    note at workplace Depot 2017 & 2018 Apple MacBook professionals discounted up to $250

    top-rated purchase is providing discounts ranging between $a hundred and fifty and $250 on the latest batch of MacBook pros and a few nevertheless-current 2017 versions, too. which you can max out the deal with the aid of identifying extra lofty priced configurations -- together with this 15.6-inch model that aspects an Intel Core i7, 16GB of RAM and a 256GB SSD. high-quality.

    Deal is available Nov. 22-24.

    note at best purchase study the CNET evaluate Dell XPS 13 for $1,500 ($500 off)

    We abide no view precisely which configuration Costco is promoting with this promoting -- but the XPS 13 is among the most efficient all-round 13-inch laptops, and this is a major discount. 

    Costco's deal begins on Thanksgiving Day, Nov. 22, and is purchasable online most effective.

    note at Costco read the CNET evaluate Lenovo Flex 5 with Intel Core i5 and 1TB tough pressure for $500 ($300 off)

    A conveniently killer deal from office Depot. The Flex 5's 15.6-inch screen gives you extra space for drudgery and, complemented through its audio system, makes it first rate for video, music and games. It besides has quite a lot of battery life to tangle you in the course of the day. or not it's at present selling for $600 however another $100 will near off the rate once the Black Friday sale kicks off.

    Deal begins on Thanksgiving Day, Nov. 22, at 12:01 a.m. ET.

    note at workplace Depot examine the CNET evaluate Gaming PCs origin computer Eon15-S and video games bundle for $1,300 (store $400) Sarah Tew/CNET

    We're lovers of origin computing device, and its Eon15-S, which comprises some features you Do not perpetually note in a gaming gear at this fee: uphold for three external monitors, including one with G-Sync guide, and a removable battery. in addition to discounting the system by more than $200 for Black Friday, the enterprise is besides throwing in some extras with some configurations:

  • A digital reproduction of appellation of duty: Black Ops four 
  • A digital Steam key for SCUM 
  • A Free superstar Trek: online Gamma forefront starter pack and Tier 6 Archon classification Assault Cruiser
  • This deal is purchasable now.

    note at dawn workstation study the CNET assessment Dell Alienware Aurora desktop notebook (with Liquid Cooled Intel Core i7-8700K, GeForce RTX 2080) for $1,800 (keep $450)

    The Alienware Aurora can accommodate two portraits cards in its exceedingly tiny case -- and Amazon is including the efficient Nvidia GeForce RTX 2080 with this configuration.

    Deal starts Nov. 23.

    note at Amazon examine the CNET evaluation HP Pavilion gaming desktop with Nvidia GTX 1050Ti for $599 ($230 off)

    Walmart has an exceptional $200+ markdown on a 15.6-inch laptop from HP. You tangle a well-behaved collection of entry-degree gaming add-ons, together with an Nvidia GeForce GTX 1050Ti GPU. 

    Deal begins Nov. 21 at 10 p.m. ET on-line and Nov. 22 at 6 p.m. in stores. 

    note at Walmart read the CNET assessment Razer Blade pro 17.three-inch gaming desktop for $four,400 ($500 off)

    good enough, so or not it's no longer a "cut price" always, but when you had been looking for a slim huge-reveal laptop for gaming or content material introduction that you can save yourself some captious coin with this Blade seasoned deal. At this expense, you're getting loads of processing and portraits performance, along with extras together with a color-accurate 4K-resolution touchscreen and a mechanical keyboard. (note that Newegg is besides providing this deal.)

    Deal obtainable now. 

    note at most useful purchase read the CNET review Acer Predator Triton seven hundred gaming desktop for $1,999 ($seven-hundred off) Sarah Tew/CNET

    Acer jammed a magnificent (and overclockable) Nvidia 1080 GPU paired with an Intel Core i7-7700HQ for awesome gaming performance in a skinny computer -- in spite of the fact that it does flee hot. 

    Deal accessible Nov. 22-26.

    note at Amazon study the CNET overview HP Omen desktop gaming notebook with Nvidia GeForce RTX 2080 for $1,500 ($500 off)

    ultimate buy takes $500 off of HP's gaming computer rig. it subsist satisfactory configuration -- Intel Core i7, 16GB of RAM and 2TB difficult drive plus a 256GB SSD and an Nvidia GeForce RTX 2080, which charges tons of by itself, to accurate things off.

    premier purchase's deal begins at 5 p.m. Thanksgiving Day, Nov. 22.

    note at premier buy examine the CNET assessment desktop PCs Apple 21.5-inch iMac with 1TB challenging drive for $900 ($200 off) Sarah Tew/CNET

    most efficient purchase's discount brings the iMac's fee perquisite down to earth. For $900, you tangle a pretty 21.5-inch, 4K-decision screen, a well-behaved Intel Core i5 CPU and a capacious 1TB difficult pressure. word that the 27-inch mannequin will even subsist on sale for $1,600.

    ideal purchase's deal starts at 5 p.m. Thanksgiving Day, Nov. 22.

    note at premier purchase examine the CNET evaluation HP Pavilion desktop notebook with Intel Core i5 for $370 ($260 off)

    Staples was already selling HP's Pavilion computing device computing device at a reduced $510, but will purloin off an further $one hundred forty starting on Thanksgiving. This setup includes a decent set of accessories including an Intel Core i5 CPU, 12GB of RAM and a 1TB SATA complicated drive.

    note at Staples read the CNET assessment Chromebooks HP Chromebook with 14-inch monitor and Intel Celeron CPU for $210 ($forty off) Sarah Tew/CNET

    Chromebooks are sometimes so least expensive that retailers abide a difficult time marking them down more -- even total the route through Black Friday. They haven't reviewed this specific 14-inch Chromebook through HP but the specs look respectable at this cost. 

    Deal attainable now via Nov. 24.

    note at Staples HP eleven.6-inch Chromebook for $one hundred thirty ($ninety off)

    here's some grime-affordable Black Friday company. This HP laptop is a fundamental one: You tangle an 11.6-inch screen, a twin-core Intel Celeron CPU, 4GB of RAM and 16GB of storage. For $130.

    Deal available Nov. 22-24.

    note at workplace Depot examine the CNET evaluate monitors Dell 24-inch UltraSharp LED video parade for $one hundred twenty ($180 off) Dell

    Staples' deal -- 60 percent off the retail rate -- makes this completely serviceable 24-inch LED monitor a pretty well-behaved deal. 

    Deal available now.

    note at Staples 27-inch HP curved LED parade screen for $160 ($120 off)

    Staples offers up a valuable deal for this curved 27-inch LED parade screen. solid specs embrace a 1,920x1,080-pixel decision, LED backlight and 1800R curvature. 

    Deal purchasable now.

    note at Staples Dell 27-inch video parade for $a hundred and ten ($ninety off)

    sure, this Dell parade screen is a couple of years old. but a 27-inch HD parade for $110 is the stuff Black Friday is product of. expense a look, for certain. (observe that Walmart is selling the equal mannequin for $120.)

    Deal accessible Nov. 22-24.

    note at workplace Depot HP 22-inch FHD monitor for $80 ($30 off)

    Straight up: This may subsist the competitively priced 22-inch monitor they abide ever viewed. Thanks, office Depot.

    note at office Depot Dell UltraSharp 27 InfinityEdge computer screen for $300 ($70 off)

    The Dell UltraSharp 27 is brilliant, with well-behaved standard-aim decision and colour excellent -- and Costco has it for the bottom expense they now abide viewed.

    Deal purchasable Nov. 22-26, on-line simplest.

    note at Costco read the CNET overview Black Friday 2018 deals in every class Black Friday 2018 offers for inescapable instruments Black Friday 2018 offers through store Black Friday 2018: CNET's finished insurance

    First published Nov. eight.update, Nov. 13, 12:25 p.m. PT: adds corrected suggestions about HP Pavilion x360 model at workplace Depot.

    fracture reward book 2018

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    Black Friday 2018 smart home offers: optimal presents available now on Google home, Hue, Ring, Alexa contraptions, Netgear Arlo cameras, Nest, Ecobee and extra
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  • Our HP inventory Prediction in 2019 (purchase or sell?) | killexams.com real Questions and Pass4sure dumps

    One plus one equals three. That’s the math Wall highway frequently applies to mergers or spin-offs.

    Does this magical arithmetic drill to HP (NYSE: HPQ)? The tremendous own computing device (computing device) maker is the manufactured from a fancy spin-off that continues to entice — but additionally confound — investors.

    Let’s learn no matter if the reconstructed HP is eventually on stout footing… or no matter if it’s about to slip and fall.

    during this version of Investing every day they are able to discover:

  • What makes HP a unique inventory?
  • in case you buy HP?
  • if you befall to sell HP?
  • normal forecast and outlook for HP.
  • Let’s tangle into it!

    hp stock prediction should you buy hpqwhat is HP?

    based in Palo Alto, California, HP develops PCs, printers and related materials, in addition to 3D printing options.

    The industry (stylized in the corporate brand as hp) became formed in November 2015, renamed from the laptop and printer divisions of the common Hewlett-Packard enterprise. The latter’s commercial enterprise items and services organizations became Hewlett Packard industry (NYSE: HPE).

    All of Hewlett-Packard’s server earnings, consulting, storage, utility, cloud and networking organizations were save beneath the HPE umbrella.

    The split changed into engineered whereby Hewlett-Packard modified its appellation to HP and spun off Hewlett Packard industry as a brand fresh publicly traded enterprise. HP retains Hewlett-Packard’s pre-2015 stock expense historical past and its former inventory ticker symbol, HPQ. Hewlett Packard industry trades under its own image, HPE.

    at a loss for words? You’re not alone.

    at the time, perquisite here’s what the economic press needed to command about the spin-off:

    HP may additionally abide a convoluted corporate heritage, however’s a know-how sector powerhouse. HP is a component of the S&P 500 Index and it’s the world’s greatest notebook dealer through unit revenue. even if the company is a invaluable investment continues to subsist an open question.

    beneath, we’ll get smack of HP in its present incarnation and let you know even if the stock is a very well-behaved purchase or a toxic fairness to prevent.

    How Has HP inventory carried out?

    HP’s stock has constantly beaten the market. during the final one year, HP has gained 19%, in comparison to eight.6% for the S&P 500. over the final two years, HP gained 60.0% in comparison to 29.9% for the S&P 500.

    How Has HP performed In 2017/2018?

    HP received forty one.four% in 2017 versus 19.four% for the S&P 500. In 2018 yr up to now, HP has gained 19.4% in comparison to 4.3% for the S&P 500.

    who're HP’s rivals?

    here chart, compiled with facts from research enterprise IDC, shows market participate of global tolerable laptop shipments in 2017:

    hp versus its competitors

    Let’s emerge on the well-behaved three rivals to HP:

    Lenovo community (OTC: LNVGF)

    China-primarily based Lenovo designs, makes and sells PCs, pills, smartphones, servers, electronic storage devices, sensible televisions, and tips know-how application for agencies.

    Lenovo has tried to inject innovation into its moribund product line, however demand continues to wane for its products. The industry spent too an Awful lot funds trying to diversify faraway from laptops and it’s now struggling to carrier its $10.eight billion expense of internet liabilities.

    The pc market remains fiercely competitive and Lenovo isn’t equipped to carry compelling fresh products to the table.

    Dell technologies (NYSE: DMVT)

    Texas-primarily based Dell designs, makes and sells PCs, servers, facts storage devices, community switches, software, desktop peripherals, excessive-definition televisions, cameras, printers, and different client electronics.

    Dell, as soon as the world’s largest inner most technology enterprise, restructured in 2018 and went public again, reemerging 5 years after its leveraged buyout with a immense debt burden. The enterprise’s product line is diffuse, its expertise lackluster, and its corporate fashion unclear. The inventory is not going to movement the needle in 2019.

    Apple (NSDQ: AAPL)

    The Cupertino, California-primarily based significant is the legendary maker of a host of liked purchaser instruments, together with the iPhone, iPad, MacBook, and Apple Watch.

    Apple’s on-line functions encompass the iTunes save, iOS App store, Mac App store, Apple song, and iCloud.

    Apple is a expertise bellwether that’s de-emphasizing its declining MacBook enterprise to seat of attention on smartphones, Apple capabilities, and leap forward applied sciences such as self-using automobiles.

    study additionally: What’s Their inventory Prediction For Apple?

    Will HP travel Up In 2019 (should you buy)?

    HP’s non-computer segments are thriving, above total printing.

    The business’s printing industry contributes about a 3rd of the enterprise’s total salary. although, because of its hefty working margin, the prienting division bills for twice as much of income as the very own programs segment.

    hp computers growth

    To learn areas of fresh increase, HP is offering high-conclusion, greater expensive PCs that parley greater profit margins. one of the vital strongest tailwinds for HP has been rising sales expenses of hardware items within the company’s own methods section. The company has introduced a smartly-designed and attractive line-up of premium PCs, pcs, notebooks, and shows which are attracting customers.

    The difficult is besides making a immense push into 3D printing, a “disruptive” expertise. HP’s foray into the exploding 3D market already is paying off and may pressure multi-year increase.

    And the inventory is a carve price, to boot.

    HP’s ahead cost-to-profits (P/E) ratio is eleven.2, a purloin compared to the forward P/Es of sixteen.5 for the S&P 500 and 16.1 for the informational technology sector.

    Will HP travel Down In 2019 (for those who sell)?

    if you’re having issue following the company’s twists and turns as it tries to check how to compete in a worldwide market that’s more and more embracing cell gadgets at the fee of laptops and desktops, you’re no longer on my own.

    Years of layoffs, desirable govt turnover and complicated corporate restructuring abide taken their toll on employee morale. What’s greater, the computer trade is in decline. the upward push of mobile ecosystems weighs closely on the demand for natural PCs.

    financial restructuring lonesome may now not subsist satisfactory to resurrect Hewlett’s industry into the innovative enterprise that two Stanford grads, William Hewlett and David Packard, launched in 1939 in a Palo Alto garage.

    typical HP Forecast And Prediction For 2019

    Our final verdict? We’re siding with the bulls. The positives of this company a ways outweigh the negatives.

    HP has achieved an exceptional job of reinventing itself, by route of seizing on slicing-area applied sciences whereas on the equal time conserving the first-rate of its core computer items. notebook trade earnings could subsist on the downswing, but HP has compensated by means of squeezing bigger margins from top-of-the-line offerings.

    HP’s administration has shown strategic savvy and they abide the monetary firepower to returned it up. HP sits on a cash hoard of greater than $7 billion, offering wherewithal to get additional strategic acquisitions.

    The commonplace analyst expectation is that HP’s yr-over-year income boom will reach 22.four% in full-12 months 2018 and eight.forty% in 2019. Over the subsequent 5 years (on an annualized groundwork), revenue growth is anticipated to near in at 11.7%, which represents a elegant turnaround from the design of -17.eight% posted total through the remaining five years. The hardy dividend yield of 2.26% is icing on the cake.

    We are expecting the inventory to rack up double-digit features next year, as HP’s strategic initiatives gain traction. In HP’s case, one plus one does certainly equal three.

    John Persinos is the managing editor of Investing each day.


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    HP2-K19 exam Dumps Source : Selling HP industry Class Storage(R) Solutions

    Test Code : HP2-K19
    Test appellation : Selling HP industry Class Storage(R) Solutions
    Vendor appellation : HP
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    US tech giant HP is selling 51% of its subsidiary H3C, which primarily sells networking gear in China, to Tsinghua Holdings for $2.3 billion, with the fresh joint-venture keeping the H3C name.

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    Commvault Systems, Inc. (CVLT) Q2 2018 Earnings Conference muster Transcript | killexams.com real questions and Pass4sure dumps

    Logo of jester cap with thought bubble.© The Motley Fool Logo of jester cap with thought bubble.

    Commvault Systems, Inc.  (NASDAQ: CVLT)

    Q2 2018 Earnings Conference Call

    Oct. 30, 2018, 8:30 a.m. ET

    Contents:
  • Prepared Remarks
  • Questions and Answers
  • Call Participants
  • Prepared Remarks:

    Operator

    Good day, ladies and gentlemen, and welcome to the Second Quarter 2019 Commvault Earnings Conference. (Operator Instructions) As a reminder, this conference muster is being recorded.

    I would now enjoy to interpose your host for today's conference, Mr. Michael Picariello, Director for Investor Relations. Sir, you may begin.

    Michael Picariello -- MD of Americas Research

    Good morning. Thanks for dialing in today for their fiscal second quarter 2019 earnings call. With me on the muster are Bob Hammer, Chairman, President and Chief Executive Officer, Al Bunte, Chief Operating Officer and Brian Carolan, Chief monetary Officer.

    Before they begin, I'd enjoy to remind everyone that statements made during this call, including in the question-and-answer session at the discontinue of the call, may embrace forward-looking statements, including statements regarding monetary projections and future performance. total these statements that relate to their beliefs, plans, expectations or intentions regarding the future are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on their current expectations. Actual results may disagree materially due to a number of risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services and generic economic conditions. For a discussion of these and other risks and uncertainties affecting their business, tickle note the risk factors contained in their Annual Report in form 10-K and their most recent quarterly report in form 10-Q and their other SEC filings and in the cautionary statement contained in their press release and on their website. The company undertakes no responsibility to update the information in this conference muster under any circumstance. In addition, the development and timing of any product release as well as features or functionality remain at their sole discretion.

    Our earnings press release was issued over the wire services earlier today and it besides has been furnished to the SEC as an 8-K filing. The press release is besides available on their Investor Relations website.

    On this conference call, they will provide non-GAAP monetary results. The reconciliation between the non-GAAP and GAAP measures can subsist establish in Table 4 accompanying the press release and posted on their website.

    Commvault adopted the fresh revenue yardstick ASC606 on April 1, 2017. Their adoption was done on a retrospective basis, total prior periods in their monetary statements abide been adjusted to comply with the fresh rules.

    As a result, the results and growth percentage they will dispute today are on a comparable basis using the fresh rules. total references to software revenue are inclusive dollar amounts are a percentage for both software and products revenue as disclosed in their P&L.

    Today's live webcast will besides embrace a slide presentation as allotment of Commvault prepared remarks to facilitate updates on their Commvault advance initiatives. These initiatives embrace an update on their transition to subscription revenue models, as well as their recent operational review. The slides besides cover their announcement of fresh multi-year revenue and operating margin targets. If you've not done so already, I would imply logging into the webcast now to view or download a copy of the slides.

    Please besides note that in order to best note the slides, they imply enabling replete screen slide mode within the webcast. In addition, the slides can besides subsist downloaded from the Commvault website under the Investor Relations page.

    This conference muster is being recorded for replay and is being webcast and an archive of today's webcast will subsist available on their website following the call.

    I will now swirl the muster over to Bob.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Thank you Mike, and well-behaved morning, everyone and thank you for joining their fiscal second quarter FY '19 earnings call. On today's muster they will dispute their fiscal 2019 second quarter results, their multi-year industry model transformation to deliver shareholder value called Commvault Advance, including an update on the progress they abide made to accelerate their transition to subscription revenue models, the results of their recent operational review, which includes the announcement of fresh multi-year revenue and operating margin targets, and an update on their participate repurchase program. Let me briefly summarize their Q2 monetary results.

    Software and products revenues were down 3% year-over-year. Total revenues were up 1% year-over-year, EBIT margin was 14.8%, up 550 basis points year-over-year, EPS was $0.40 per participate versus $0.21 in the prior fiscal year.

    Our EBIT margin improvement was driven by cost efficiencies, implemented as allotment of their Commvault advance initiatives. Later in the presentation, they will talk about their fresh revenue metrics that will provide greater clarity to investors on their subscription model transition, which has been accelerating over the final several quarters.

    In Q2, their subscription revenue represented the highest balance of software revenue in their history and subscription annual shrink value or ACV, which they will define later in the call, accelerated its year-over-year growth to over 90%.

    As a reminder, final quarter they were implementing a major corporatewide transformation called Commvault Advance. tickle purloin note that Commvault issued a press release this morning, outlining the significant progress they abide made since announcing Commvault advance in May.

    The goals of Commvault advance are to establish a stout foundation to help revenue, while at the very time achieving much improved operating margin leverage. The implementation was a culmin turning to their poise sheet and cash flows in the first quarter cash and short-term investments were partially 1.1 billion ation of a couple of years of effort across products, pricing, a reorganization of their sales and distribution functions and the establishment of a much stronger, more efficient routes to market.

    We believe that their second quarter software and products revenue reflected the temporary disruption from the significant Commvault advance related changes they made during the quarter, including reorganization of their sales and distribution organizations, which in allotment shifted a significant percentage of field resources to uphold their channel and alliance partners and major simplification of both products pricing to get their solutions easier to both sell and buy.

    We acted swiftly to implement these changes and while there was a higher level of disruption than they had anticipated, the most significant changes are now largely completed and they are focused on go-forward execution throughout the residue of FY 2019.

    Based on the early results of these changes, they are already seeing improved momentum and abide seen a keen extend in funnel growth, stout order stream in October and solid forecast from the field. However, given the early stage of their transformation, they map to remain conservative with their near-term outlook until they can validate the positive churn of the industry with solid quarter-on-quarter revenue growth.

    We believe the implementation of Commvault Advance, although challenging in the near term, puts us in a much stronger position to purloin odds of the major shift in the market and significantly improves their aptitude to execute their strategy and drive revenue and earnings growth.

    Commvault advance leverages their energy and shores up their weaknesses. Specifically, they believe Commvault has a leading technology to enable big enterprises to consolidate data management to deal with the captious issues related to cost, cyber compliance in the cloud, which I muster the 4Cs.

    As data scale increases, they are besides well on their path to their exit by scale in their platform. They now abide simplified software solutions, pricing, packaging and appliances to deal with the shift to simplification in both the enterprise and the midmarket, particularly with their converged appliances and Commvault complete data management.

    While they are the clear technology leader and migrating and managing data in the cloud with IBM's $35 billion acquisition of Redhat this weekend, there will subsist additional focus on cloud and Commvault is well positioned to purloin odds of that with the leading data management platform in the industry.

    We are leading the industry in data analytics with their know your data solutions with Commvault Activate. As allotment of Advance, they are laser focused on improving their aptitude to accelerate revenues through a much stronger sales and distribution. These efforts abide been further bolstered with the recent hiring of several sales leaders with stout distribution focus.

    Commvault has been focused on making fundamental changes to their products and their businesses that they believe will deliver sustained revenue growth and profitability over both the near term and the long-term.

    These industry model optimization changes that will deliver shareholder value embrace an enhanced and expanded and simplified product portfolio, improved distribution leverage, a transition to subscription pricing and aligning their cost structure with their revenue growth.

    So let me talk about their product portfolio. As I just mentioned, a key ingredient of Commvault advance is to create and enhance expanded and simplified product portfolio, which includes product innovations that get it easier for customers to install and consume their products and changes to packaging and pricing structures to get a dramatically easier for their sales teams and partners to sell and customers to buy their products.

    Commvault now has four distinct, simply powerful offerings. One is Commvault complete backup recovery, which is the consolidation of what was previously 20 SKUs. Commvault HyperScale Software and Appliances, just converged data management protection, combined with scale-out secondary storage.

    Thirdly, Commvault orchestrate, which is fully automated disaster recovery, data test and data migration, particularly in the cloud and fourth, Commvault Activate, which is designed to uphold customers know their data and then learn and extract fresh industry insights from data under management whether that data is on-premise or in the cloud.

    All these products abide built upon a common software and technology platform they muster the Commvault Data Platform.

    Another key strategy is to drive significantly improved distribution leverage through a combination of products, better aligned to routes to market, which embrace their appliances in Commvault Complete, reallocation of sales resources from direct selling to supporting their partners and the expansion of their alliance relationships.

    During the first half of fiscal '19 they shifted a material portion of their sales and marketing resources from direct sales to supporting their channel and strategic partners and in strengthening their strategic relationship with key partners, including HPE, net Cisco, Microsoft and AWS.

    We expanded their partnership with HP. Commvault backup recovery software will now subsist fully integrated with the HPE store once appliances. The integration will allow backup data to subsist moved natively to the cloud or back to on premise. They hope this integration to subsist available in November.

    In addition, they launched sales programs for Commvault Complete and HyperScale, which are now included HPE's global price, which continue to align their field organizations and save structure around their drawing pipeline build.

    We recently announced an expanded partnership with whereby NetApp is now a replete reseller partner. NetApp and NetApp channel partners can now sell the Commvault backup recovery software directly to its customers.

    We've continued to develop their strategic relationship with Hitachi, Bentara, Huawei and Fujitsu. They hope to note significant funnel build and revenue progress with both HP and NetApp during Q3. They remain excited about the industry occasion represented by their alliances with total of these leading technology vendors and believe that these relationships will drive significant occasion for Commvault going forward.

    Let me talk about their transition to subscription pricing. dawn in fiscal 2018, they began transitioning a significant portion of their fresh customer revenue to subscription pricing models. This transition has benefits to both their customers and Commvault.

    Our success with subscription models has been better than they anticipated and their repeatable revenue streams had been significantly outgrowing their legacy pricing models. This transition has created some headwind through near-term topline revenue growth as a like-for-like subscription transaction initially generates less revenue than perpetual sale, but they believe that it's the perquisite long-term model in order to drive, help and sustainable revenue growth for the future. Brian will highlight some of these key metrics, which betray their progress on this transition.

    Now let me talk about cost efficiencies. During fiscal '19, they made excellent progress in adjusting their cost structure so that they can deliver meaningful improvements to operating margins over the next couple of years. With the assistance of third party consultants, they identified areas of operational efficiencies both in the near and long term, which positively impacted the first half of FY '19 and they anticipate will drive higher operating margins for the poise of FY '19 and beyond.

    Our progress is evidenced by the 61% year-over-year growth in Q2 in non-GAAP operating income. Brian will address their multi-year operating margin targets later in the call.

    While they are making changes to simplify and help their business, one thing they will not change is their commitment to innovation and delivering world-class solutions and uphold to their customers. As they identified economies in their cost structure, they abide not decreased their investment in R&D or customer uphold since their objective is to maintain their technological leadership position in the industry.

    Our commitment to lead the industry in innovation is highlighted by the announcements they made recently at their third Annual Customer and colleague Conference Commvault GO. At the conference, they announced more powerful, yet simplified oversight of backup and data management operations by using sophisticated machine learning and artificial intelligence to automatically adjust backup schedules, dynamically auto optimize operations to help IT resource utilization, purloin immediate actions to mitigate damage from a cyber attack and provide real time alerts on captious issues.

    We besides continued to maintain their leadership position in the cloud. Commvault Solutions seamlessly drudgery with more than 40 cloud offerings and they continue to subsist one of the leading data protection offerings to delivering workloads to the cloud in particular AWS, Azure and Google Cloud.

    Our aptitude to enable customers to rapidly trot workloads to, from and between clouds, while protecting the data is a significant competitive odds and remains a key driver of the Commvault business.

    Now that the foundation of Commvault advance is in place, they believe they will note increased topline momentum, as their channel strategy, go-to-market initiatives and alliance partnerships has started to betray positive traction with funnel growth acceleration.

    We anticipate sequential revenue improvement during the second half of fiscal '19 based on the following. One, the success of Commvault HyperScale Appliance and HyperScale Software Solutions, cloud migration and management, success for the Commvault Data Platform to gain participate in big enterprises with the journey to the cloud and solutions to uphold customers mitigate and retrieve from a cyber attack with highly automated, machine learning and artificial intelligence aided data protection, disaster recovery and intrusion detection and mediation.

    Third, becoming a leading foundation for governance, data analytics and as an optimized data source from industry analytics and finally, dramatically improving their growth in the mid-market by offering much more uphold to their channel and strategic partners, combined with the introduction of fresh innovative product offerings and pricing.

    In summary, the implementation of the Commvault advance initiatives in Q2 resulted in disruption that did not allow us to achieve their top line objective. However, they believe the pieces are now in Place for the company to execute and deliver improved monetary performance.

    I will now swirl the muster over to Brian. Brian?

    Brian Carolan -- Vice President and Chief monetary Officer

    Thank you, Bob and well-behaved morning everyone. In addition to covering the traditional monetary highlights for the second quarter of fiscal 2019, I will besides expend time updating you on the progress they abide made to accelerate their transition to subscription revenue models, including metrics, which demonstrate their continued progress toward more repeatable software and products revenue streams.

    I will besides update you on the results of their recent operational review, which includes the announcement of fresh multiyear revenue and operating margin targets. And lastly, I will provide you an update on their participate repurchase program.

    In addition to their earnings release issued earlier this morning, they besides abide made available a presentation on the Investor Relations section of their website and besides included this presentation in their 8-K filing. If you are on the webcast you can supervene along with these slides during my remarks.

    Q2 total revenues were $169.1 million representing an extend of 1% over the prior year period. On a sequential constant currency basis, total revenue would abide been approximately $1.9 million higher, using prior quarter FX rates.

    We reported Q1 software and products revenue of $69.5 million, which was down 3% year-over-year. Revenue from enterprise deals, which they define as deals over $100,000 in software and product revenue in a given quarter, represented 66% of such revenue.

    Revenue from these transactions was up 8% year-over-year. The number of enterprise revenue transactions increased 10% year-over-year. Their tolerable enterprise deal size was approximately $284,000 during the quarter.

    Gross margins were 84.6% for the quarter. The cost of third-party royalties related to their HyperScale software solutions and the cost of hardware related to their HyperScale Appliances is included in the cost of software and products revenue. Total non-GAAP operating expenses were approximately $115.2 million for the quarter, down approximately 10% year-over-year and 7% sequentially.

    We completed side 1 of Commvault advance and establish significant efficiencies in their cost structure, which included reducing their overall headcount by approximately 7% since the dawn of the fiscal year. They ended the September quarter with 2,644 employees.

    In addition, as they travel through side II of Commvault Advance, they remain focused on maintaining their technological leadership position in the industry. They Do not hope these operational initiatives to abide an adverse impact their product development strategy.

    Operating margins were 14.8% for the quarter, resulting in operating income or EBIT of approximately $25.1 million. As Bob mentioned, EBIT was up 61% year-over-year.

    Net income for the quarter was $19.1 million and EPS was $0.40 based on a diluted weighted tolerable participate count of approximately 47.8 million shares. As a reminder, during FY '19, they lowered their pro forma income tax rate from 37% to 27%. They believe that as a result of US tax reform, 27% will align to their long-term GAAP and cash tax rates.

    We anticipate that their diluted weighted tolerable participate count for replete year FY '19 will subsist approximately 48 million shares.

    Let's now change gears and expend some time on their subscription pricing models and their continued shift to more repeatable revenue. Their subscription pricing models are continuing to resonate with customers. They believe their transition to subscription-based pricing models over the final six quarters has been very successful.

    For the sake of clarity and transparency, they are introducing two revenue metrics to uphold investors track the growth and progress of their subscription revenue transition. As you will see, subscription revenue is becoming a larger portion of the industry and they intend on accelerating the pace of this transition over the next several years.

    When you combine their subscription-based license sales with their other repeatable services revenue streams, such as maintenance, managed services and SaaS, it represents what they muster their repeatable revenue. They are on track to achieve their goal of having 70% plus repeatable revenue in FY '19.

    Let me start out by defining the nature of their current revenue streams. slide 9 in their presentation includes a chart that summarizes revenue based on how it is recognized and if it is potentially repeatable, nearly total of Commvault software and product revenue is related to solutions that are flee in the customers on-prem environment for cloud infrastructure.

    We currently Do not abide any significant revenue streams related to hosted or SaaS solutions. As a result, as required under ASC606, the vast majority of Commvault software and product revenue is recognized at a point in time, when it is delivered to the customer and not over the course of a contractual period. This is factual for both perpetual licenses and their software subscription software licenses.

    As a reminder, their subscription software license agreements generally require a minimum, non-cancelable spending commitment and term, which is typically three years.

    We abide intentionally used the word repeatable and not recurring to portray this revenue, because it is recognized at a point in time and not ratably over the length of the contract. Each time a customer renews a subscription arrangement, Commvault will recognize the entire value of the software that was sold in the epoch of sale.

    The only exception to this point in time recognition principle for their software products is sales of their pay as you travel utility arrangements. These utility arrangements are generally structured with no guaranteed minimums, which means they are recognized over time based on product usage.

    We measure total repeatable revenue as subscription software and product revenue, utility software revenue and the revenue related to their maintenance and uphold services. Note that unlike software, their maintenance and uphold services on both perpetual and subscription software arrangements are recognized ratably over the shrink term.

    Slide 10 includes a summary of the benefits of subscription models. They abide heard from many of their enterprise customers that consumption-based pricing such as subscription arrangements is very lofty on their list of prerequisites for a data management solution.

    Customers often prefer a subscription model, because it simplifies their procurement process, lowers their upfront commitment and aligns with their trot to consumption-based pricing models associated with cloud storage.

    Ultimately a subscription license provides the customer with much more flexibility to adapt the changes in their industry and technology. If subscription arrangements get it easier for prospects to become Commvault customers, they are confident that the lifetime value of their customer relationships will increase. And from a Commvault perspective, they believe these models will drive a more predictable and repeatable revenue stream over time.

    Let's now peek at a simple representative case of a perpetual license transaction and how it compares with a subscription license arrangement over both a three and six-year period.

    In this example, on slide 11, they abide compared a like-for-like perpetual license and subscription license arrangement. As you can see, the subscription solution requires less upfront investment by the customer and results in lower initial revenue to Commvault.

    In this example, the customer could purchase a perpetual license for their software for $245,000 plus annual customer uphold and maintenance. Each year that this customer renews their uphold maintenance, Commvault receives $45,000 of revenue. The total cost over a three-year epoch is $380,000 and increases to $515,000 over six years.

    To purchase the equivalent amount of software under a three-year subscription model, the customer would pay $300,000 either upfront or over the three-year life of the agreement. This expense is inclusive of both software and maintenance and support. Over time typically, after the first read total (ph) the cumulative revenue from a subscription model exceeds the perpetual model and related maintenance.

    We believe this is a win-win scenario by making it easier to initially transitioned to CommVault, their customers will besides realize other monetary benefits over time versus a competitor's solution, such as more cost efficient storage, reduced downtime and less administrative cost.

    In recognition of their transition to subscription models, they believe it is now notable to highlight two key operating metrics, which demonstrate their continued progress toward more repeatable software and products revenue streams, which we've been discussing for several quarters now. They believe these metrics betray the potential value of the transition to CommVault shareholders.

    The first is repeatable revenue and the second is a fresh metric not previously discussed, but widely used in the industry and that is annual shrink value or ACV. I will walk you through each of these in the next few slides.

    I will start with repeatable revenue, which is shown on slide 13, as eminent earlier, their primary repeatable revenue streams are subscription, software and maintenance services. The amounts included on the subscription and utility software row are inclusive of both software and maintenance and uphold revenue on these arrangements.

    The amounts included on the recurring uphold and services row is primarily maintenance and uphold revenue related to existing perpetual software arrangements. They would consider approximately 71% of their Q2 total revenue to subsist repeatable in nature.

    As you can see, their repeatable revenue has been consistently growing in excess of their legacy pricing models and were up 22% year-over-year in Q2. The recent growth of their repeatable revenue streams has been driven by subscription software and products revenue, which is shown on slide 14. Subscription-based pricing represented a record 43% of software and products revenue in Q2, which compares to 17% in Q2 of final year.

    Software and products revenue from such subscription-based models are up 136% year-over-year, a significant acceleration from final quarter. This consists of both committed and often multiyear subscription sales as well as pay as you travel utility ilk arrangements.

    The second metric, I would enjoy to dispute is the subscription and utility annual shrink value or ACV, which is shown on slide 16. As they transition to a mostly subscription or repeatable revenue model, this will provide greater visibility into the increased subscription contracts they sell. ACV is defined as one, the total dynamic subscription contracts value, inclusive of revenue that was recognized as either software or uphold services, annualized for a 12-month equivalent value plus two, the annualized value of dynamic utility or pay as you travel usage billings.

    We believe this ACV metric normalizes the variations in contractual length among their subscription and utility transactions and will uphold investors and analysts track CommVault's transition to more potentially repeatable revenue streams.

    This metric will subsist a valuable data point to demonstrate the growth of their subscription and utility-based pricing models that they hope to drive fresh customer acquisition, land and expand growth as well as up-sell opportunities. As of Q2, ACV has grown to $76 million after only a short epoch of selling subscription licenses. Importantly, ACV is accelerating and achieved approximately 90% year-over-year growth this quarter.

    As allotment of their Commvault advance initiatives, their go-to-market model is highly focused on primarily selling these subscription licenses and they hope subscription ACV to grow significantly over the next several years.

    I would now enjoy to expend the next few minutes addressing both their near-term monetary outlook and their longer-term operating targets. As outlined in today's press release, they abide been making well-behaved progress within their Commvault advance framework across total aspects of the company by strengthening their competitive technology position, broadening their product line, expanding distribution relationships, reorganizing sales and marketing and driving cost reductions and efficiencies.

    We are on a path to improving the sustainable monetary performance of the company, while they hope that the changes they abide made to products, pricing, distribution and partnerships will drive future revenues and operating leverage, they besides took actions to align their cost structure with a reasonable revenue growth target.

    As Bob discussed earlier, the implementation of the Commvault advance initiatives resulted in near-term disruption that did not allow us to achieve their Q2 and near-term topline objectives. They are besides conservatively planning for modest revenue growth in Q3 and Q4. They hope third quarter total revenue to subsist approximately $181 million and fourth quarter revenue of approximately $189 million, resulting in total FY '19 revenues of approximately $715 million.

    These expectations are based on Q3 and Q4 software revenue of approximately $82 million and $86.5 million respectively. If they achieve their revenue outlook, they will continue to note margin expansion and stout year-over-year earnings growth based on the cost-cutting initiatives they began in early fiscal 2019.

    We now hope the Q3 EBIT margin percentage to subsist approximately 15% and the replete year FY '19 EBIT margin percentage to subsist approximately 14.7%, which is a 380 basis point improvement over the prior year.

    While their strategic fundamentals are stout and their aptitude to execute has improved, they silent face captious challenges. It is notable to note that Commvault advance is a major transformation and restructuring effort. They are making fundamental changes to the business, which carries risk, tide to disruption and execution. While they believe that the majority of the elements of Commvault advance are in place, there is a inescapable ingredient of transformational risk associated with the execution of such initiatives, particularly in the near term.

    Despite these risks, they are already seeing improvements across numerous KPIs and October order volume is tracking well. Secondly, as they abide discussed for many quarters, they are currently reliant upon a equable inflow of big six and seven-figure deals, which near with additional risks due to their complexity and timing.

    While they besides exigency to help their close rates on these deals, big deal closure rates will likely remain lumpy, particularly in the near term. And lastly, while they are jubilant with the progress they are making with subscription pricing models, the transition drives a headwind to near-term license revenue growth.

    This transition will continue to abide a dampening upshot on revenue, but they believe will ultimately result in a higher lifetime value. As previously stated, fiscal '19 will subsist impacted by the near-term disruption of the changes they implemented that as allotment of their Commvault advance initiatives.

    As they enter fiscal '20, their goal is to capitalize on these changes and start to realize leverage from their distribution model as well as the operational efficiencies they identified and implemented in fiscal 2019.

    Turning to the next slide, you can note the detail of their multi-year revenue and operating margin targets. Their fiscal '20 objective is to grow revenue by at least 9% while achieving 20% plus operating margins. Their fiscal '21 target is to continue driving operating leverage and obtain 25%-plus operating margins.

    Our continued transition to more repeatable revenue will besides subsist a key component of their improved monetary performance. As you can note on slide 21, their target is to achieve 80% repeatable revenue in fiscal '21.

    Given their transition to subscription software licensing began in fiscal '18, fiscal '21 represents the first occasion for Commvault to significantly capitalize from renewals of existing subscription customers. As they continue driving repeatable revenue, they will focus on maximizing the value of subscription and utility annual shrink value.

    As previously discussed, their current ACV is approximately $76 million. Their goal is to achieve approximately $240 million of subscription and utility annual shrink value by the discontinue of fiscal '21. The $240 million goal is approximately eight times the ACV they stated with when they began their trot to subscription based pricing.

    In fiscal 2019, we've been focused on targeting areas of cost savings, such as reducing headcount by approximately 7% since the start of the year and setting the foundation for Commvault Advance.

    One of the core principles of advance is to drive distribution levers through a focus on their alliances and partnerships. If they are successful, this will accelerate operating margin expansion and reduce their sales and marketing expense as a percentage of revenue.

    As you can note on this slide, their goal is to reduce sales and marketing expense from 53% of revenue in fiscal 2018 to 40% in fiscal '21.

    Let me now shift gears to their poise sheet and cash flows. As of September 30, their cash and short-term investments poise was approximately $484 million. During the quarter, they repatriated $67 million of international cash back to the US and reduced the amount of cash held in exotic locations from $197 million as of June 30 to $130 million as of September 30.

    Our remaining international cash poise is spread across over 35 countries, while their goal is to continue to revert as much cash as viable back to the U.S., they may not subsist able to Do so in an economically efficient manner or may subsist limited by exotic laws and regulations.

    However, they Do believe that steps they are taking will result in the vast majority of future net cash stream to subsist concentrated in the US.

    Free cash flow, which they define as cash stream from operations less capital expenditures was approximately $17.3 million, which was up 2X, over the prior year period. As of September 30, 2018, their deferred revenue poise was approximately $316 million, which is an extend of 7% over the prior year period. Nearly total of their deferred revenue is services revenue that has been invoiced to customers.

    Lastly, let me update you on their participate repurchases. During fiscal 2019, which includes transactions through yesterday, they abide repurchased approximately $47 million or approximately 707,000 shares of their common stock at an tolerable cost of $66.33 per share.

    As disclosed in their earnings release issued earlier this morning, their Board of Directors has recently increased the total amount available for participate repurchases to $200 million and extended the program for another year through March 2020.

    That concludes my prepared remarks and I will now swirl the muster back over to Bob. Bob?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Thank you, Brian. I would enjoy to expend a few minutes talking about Commvault travel and the fresh products they announced during the show. They hosted their Annual Commvault travel User Conference earlier this month in Nashville. Registration exceeded final year's total with approximately 2,200 customers, prospects and partners in attendance.

    We announced a number of fresh products and services including an exciting fresh route for customers to interface with their software called Commvault Command Center, fresh backup and recovery as a service offerings and further expanded their portfolio of appliance offerings.

    We raised the industry benchmark for software interaction and data management with the announcement of the Commvault Command Center, which provides customers with a single console for managing Commvault's complete portfolio of products across an entire enterprise on premise, cloud and discontinue point infrastructures.

    The Command seat is enhanced with the power of artificial intelligence and machine learning to provide easier to understand dynamic dashboard views of their customers' environments, much more comprehensive real-time reporting and unique learning capabilities, including the aptitude to purloin corrective actions.

    Broad-based security enables IT, Admin and discontinue users to abide their own easily customizable dashboards. The Command seat can subsist deployed on premise or in the cloud and is available now.

    We announced a fresh backup and recovery as a service offering to deliver Commvault's powerful simplicity for customers wishing to consume backup and recovery exigency as a service. They besides announced two other backup services for virtual machines on AWS and Azure, and a backup service for native cloud application such as Microsoft Office 365 and sales force.

    These solutions will subsist available within cloud marketplaces for ease of acquisition and deployment. Customers can purchase the services as a Pay As You travel license or as a fixed term subscription. They besides expanded the company's family of appliances with addition of two fresh appliances. The fresh appliances expand their offerings into a family of small, medium and big appliances that enable their customers to cost effectively scale from 10 terabytes to more than a petabyte or 10s of petabytes.

    The fresh larger appliance is targeted at managed service providers and big enterprises featuring stellar technology with their Commvault Hyperscale software. The tiny offering takes a replete power of Commvault complete backup recovery into an appliance offering impeccable for remote office and fork offices.

    All of their appliances can subsist used to seamlessly backup data on-premise or trot it directly to the cloud. Commvault user cloud resources natively, which has cost, performance advantages versus competitive offerings, which require the customer to install an instance of their appliance in the cloud.

    During the betray Al and I besides delivered a keynote presentation that outlined fresh and exciting products and fresh ideas that meet today's unique data management challenges and opportunities for three main messages.

    One Commvault complete backup and recovery continues to set the fresh industry benchmark for what it means to subsist complete and backup and recovery solutions. Advances in machine learning and AI will create a sales driving enjoy smack that redefines how customers engage with their software. This is made viable through the capabilities of the fresh Commvault Command Center.

    Secondly, the simple SmartCloud highlighting Commvault's aptitude to deliver a covenant of the cloud faster to automated and orchestrated research management and control, we're now helping customers deliver on a multi-cloud environment as a factual extension of a modern on-premise data center.

    And lastly, they continue to help customers' scholarship of their data with a holistic enterprise wide view and they are delivering applications that allow them to act upon that knowledge. This comes to life through Commvault Activate.

    Innovation remains the hallmark behind Commvault's product vision and leadership. Commvault is applying leading edge AI and machine learning to deliver outcomes that customers value most. Commvault challenges the industry to hope more as they deliver truly complete backup and recovery.

    Before they wrap up, let me briefly update you on the search process for a fresh CEO. As stated previously, the CEO Search Committee of their Board remains -- retained a leading search from May and has been identifying and actively interviewing candidates. The search process is well under route and the search committee is making well-behaved progress.

    In closing, under Commvault advance they made significant progress in the quarter, establishing a stronger foundation to better enable us to achieve more improved and predictable monetary performance both in the short and long-term. While they are not satisfied with their Q2 revenue performance, they are seeing stout early momentum from their Commvault advance initiatives and are excited about their accelerating subscription revenue.

    We abide made comprehensive operational changes over the final several months and these changes are now behind us. They are now focused on ongoing forward execution. The actions they took to align their cost structure at the dawn of the year were evidenced in the 61% year-over-year EBIT improvement. Now that the foundation of Commvault advance is in place, they believe they will note increased momentum as their channel strategy, go-to-market initiatives and alliance partnerships start to betray positive traction.

    As I mentioned earlier, they are entering the second half of the year with a much stronger funnel. We'll subsist focusing their efforts on executing the key elements of Commvault advance where they already abide a solid already -- where they already abide solid proof points of success.

    Our objective is to get certain they achieve their near-term monetary objectives while solidifying their Commvault advance Foundation for FY '20. Their immediate focus is to achieve their Q3 revenue and earnings forecasts.

    Now let me swirl the muster back to Mike. Mike?

    Michael Picariello -- MD of Americas Research

    Operator, can you tickle open the line for questions?

    Questions and Answers:

    Operator

    (Operator Instructions) Their first question comes from the line of Joel Fishbein of BTIG. Your line is now open.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Good morning. I abide one for Bob and one for Brian. I'll start with Brian. Hey Brian, thanks for the detail on the trot to the subscription model. What I'm just trying to understand is with a lot of these companies, you start this -- you note deferred revenue grow perquisite as you mark these deals, particularly larger ones and I'm just trying to understand why we're not seeing an uptick in deferred revenue with some of these subscription deals? And then I'll wait -- just demand Bob the next question.

    Brian Carolan -- Vice President and Chief monetary Officer

    Sure. well-behaved Morning, Joel. So, as I described in the call, we're a bit unique when it comes to the application of ASC 606. When they sell their subscription software and license arrangements, they actually recognize that revenue upfront in the epoch of sale on the software portion.

    The only thing that goes into deferred revenue potentially would subsist the maintenance that's attached to that, just enjoy a modest arrangement under perpetual model. It's the very ilk of carve out for maintenance and uphold that gets deferred over the contractual term.

    So you don't note it betray up in deferred. It actually shows up in epoch revenue that's been recognized. That's why we're going to try to point to other metrics such as ACV and repeatable revenue and try to give you well-behaved visibility into the traction that we're making on more repeatable revenue models.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Would you abide a backlog number then, enjoy in terms of total shrink backlog or is that not a metric that might subsist meaningful?

    Brian Carolan -- Vice President and Chief monetary Officer

    That's really what, it's almost really, if you peek at the ACV is a proxy for what backlog would subsist essentially.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Okay. Great. And then Bob just for you, what gives you aplomb that you can grow 9% next year? Obviously you're making a lot of changes perquisite now and I'm just -- what's giving you the confidence? Is it something that you're seeing out there specifically that you can point to?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Yes Joel, clearly we're seeing a substantial, I carryweight substantial uptick in funnel stream in the enterprise just started to change. They saw it in the spring and it really accelerated through the summer in spite of disruption and continued as they entered Q3 in very big deals into the funnel and those deals were tied a trend in the industry for big enterprises to consolidate total their data management functions to deal with cost, cyber compliance and the cloud.

    And I believe their data management platform and the market is recognizing this, is in a class by itself in terms of delivering those capabilities. So that significant extend in big deal and stream besides gives us optimism for this current quarter and it's continued.

    And secondly, as I discussed in my remarks, they now abide a much stronger distribution position and although that's going to purloin a shrimp time to impact their earnings, we're starting to note that as well, so fortunately they got a massive significant upturn in their I'll muster it core enterprise industry and besides that is besides being driven by a much stronger colleague and alliance relationships in the enterprise.

    And from the midmarket standpoint, they are seeing well-behaved traction with their appliances in Commvault Complete and fresh pricing. So the gross foundation at Commvault Complete was not try to get changes here. That's why it goes back a couple years to get fundamental changes in their products pricing, routes to market, alignment with those routes to market and a much more efficient cost structure.

    So internally, there's a lot of optimism underneath and I really assume we've done this the perquisite route although it had some attended risks as they made these massive changes final quarter.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Great, thank you.

    Operator

    Thank you. Their next question comes from the line of Aaron Rakers Wells Fargo. Your line is now open.

    Aaron Rakers, -- Wells Fargo -- Analyst

    Yeah, thanks for taking the questions as well. So I want to travel back to that final question and just understand the variables at play to underpin what looks to subsist a 17%-plus sequential extend in your implied software license revenue this quarter.

    I assume with that in mind, it would subsist helpful to understand exactly what degree of funnel pipeline growth that you've been seeing and what assumptions are you making in terms of converting those funnel opportunities into recognized revenue? I'm just trying to understand the basis for that extend conservatism sage or what you note to drive that level of sequential growth?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    So the funnel growth Aaron is material and significant. I carryweight it's -- we're talking about a very major extend in the growth of funnel, particularly in big enterprises and particularly in the Americas and the assumptions we're making on funnel close what I muster reasonable and Brian can retort that question.

    So we're not putting immense close rates on these areas of the funnel and then the other thing that goes along with this is their we've had predictive models here that are quite sophisticated and they've been quite accurate and their predictive analytics besides peek really well-behaved relative to the guidance they just provided.

    Brian Carolan -- Vice President and Chief monetary Officer

    Yeah, I assume just to supervene on with Bob's point, we're using fairly typical and tolerable close rates applying that to the current quarter funnel. Again, they note a hardy uptick in their enterprise deal funnel heading into this quarter, which we're pleased with. Although I did command that could subsist lumpy at times, we're still, we're pleased with that number in available funnel.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    I think, Aaron, you saw a lot of this and this kind of validates what you saw it travel since you were there and what you heard on the floor.

    Aaron Rakers, -- Wells Fargo -- Analyst

    Yeah, and just a quick follow-up, I'm just curious, I assume final quarter Bob, in response to your question, you said that basically 98% I assume was the number that the total sales obligate realignment efforts abide been completed.

    As they peek at the leverage that you're presenting to us going forward, I'm snoopy of what else is there in terms of sales realignment or for that matter, sales headcount reduction efforts that should subsist anticipated in front of us if there are any?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    I would command the bulk of this is behind us, but as they travel forward and bring the leadership in, which we've done, I assume over time they will continue to refine that model. So I assume there are additional benefits to subsist gained on efficiency, but those are incremental relative to what they just went through.

    Aaron Rakers, -- Wells Fargo -- Analyst

    Okay, thank you.

    Operator

    Thank you. Their next question comes from the line of Jason Ader of William Blair. Your line is now open.

    Jason Ader -- William Blair -- Analyst

    Thanks. Bob, thank you for the CEO search update. I guess my question on that is, five months into when you announced it and they haven't seen any announcements yet. So I guess why is it taking so long? Is there anything you can give us some more color on that?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    I'll just get the observation that the search committee is making very well-behaved progress on the CEO search.

    Jason Ader -- William Blair -- Analyst

    Okay. unbiased enough. And then over the final few years, we've seen a succession of restructuring and pricing and packaging changes. I know that you guys are optimistic on the things that you're implementing perquisite now, but why should investors believe that this time is going to subsist different?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Well, the only validation is for us to hit the numbers. That's the only real validation. total I can command is the funnel growth and the types of deals we're seeing now are in a different category than we've seen in their history. So a lot of the deals -- there is a lot of deals that are in the multiples of millions of dollars and it's both mainly in the Americas and AMEA, primary in multiple million this is muster it $3 million, $4 million, $5 million, $6 million kind of deals and they're accelerating.

    So we've got that, that's real and these deals are well scrubbed and they're stirring through the funnel well. In addition, we've never had the energy of their product line for the bid market, where their appliances are complete and really getting their prices in line and we've eased that up with a lot more resources and focus.

    So I assume fundamentally, they didn't try to Do a quick fix here. They try to really understand the market dynamics and address it.

    In addition, let me subsist clear about this, if you peek at their platform for the cloud, a real cloud platform to manage data and migrate it to the cloud and manage it in as a scale out platform and with Linux functionality, I assume there is a stronger platform in the industry than what they abide here at Commvault.

    And we've been able to purloin the next step and enhancing that platform for let's muster it multiple exabytes scale, which they anticipate will subsist in the market sometime early next fiscal year. It's not that far away. So I assume technically we're in a really well-behaved position.

    I assume we're seeing the real traction from the consolidation taking Place in the enterprise across the Board for data management functions. I assume cyber is a immense driver of that and we've had really well-behaved success in taking major customers and they when they retrieve from major cyber attacks, they had most present at their travel Conference as a well-behaved case of that.

    Clearly, things enjoy GDPR compliance are playing a role of that and the cloud is becoming increasing notable and I don't assume there is any platform on the planet that allows customers to natively consume the cloud and total its aspects enjoy they have.

    So in spite of the changes the things they made, I assume the company is fundamentally in a extremely stout strategic position to accelerate growth and they abide established a much more efficient cost structure to drive the bottom line.

    Jason Ader -- William Blair -- Analyst

    Thanks.

    Operator

    Thank you. Their next question comes from the line of Andrew Nowinski of Piper Jaffray. Your line is now open.

    Andrew Nowinski -- Piper Jaffray -- Analyst

    Okay. Thank you very much. well-behaved morning. So looking at slide 21, your assumptions for repeatable revenue growth imply growth of just 17% in fiscal '19. I assume that decelerates to about 16% by fiscal '21, despite the blend continuing to increase.

    Is that factoring in expense declines or why should they hope repeatable growth to basically top out at the fiscal '19 level for just at the start of the transition and they haven't seen an impact from renewals yet?

    Brian Carolan -- Vice President and Chief monetary Officer

    Well, again we're trying to subsist a shrimp bit conservative with their guidance out there Andy. So I assume that we'll note an acceleration. By FY '21, will subsist the first meaningful year, where they note renewals start to happen, but they want to subsist reasonable with their expectations and so they actually note that happen.

    Andrew Nowinski -- Piper Jaffray -- Analyst

    Okay. unbiased enough. And then in Europe, if I looked at the software revenue, it actually did decline about 17% this quarter despite the GDPR tailwinds. I guess, can you just give us an update on what's going on in Europe and other competitors, such as (inaudible) any pressure on your aptitude to grow revenue in Europe there?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    No. The EMEA team is consistently -- met their number or beat it and final quarter they basically took the field out for about six weeks as we're going through this gross transition. So in some sense, the quarter really didn't start till the 1st of August.

    As far as they know their expectations for Q3 are for us very, very significant quarter-on-quarter growth. So I assume what we've stated is accurate, that you can't draw any long-term conclusion from what happened final quarter, they really believe that the majority of that was disruption.

    Andrew Nowinski -- Piper Jaffray -- Analyst

    Okay, thanks, Bob.

    Operator

    Thank you. Their next question comes from the line of John DiFucci of Jefferies. Your line is now open.

    John DiFucci -- Jefferies -- Analyst

    Thank you. I abide a question for Brian and then maybe a follow-up for Bob. So Brian thanks again for total that information on the transition of this subscription model, that's total really helpful. But when they peek at that -- the utility revenue, I assume that's one piece that's going to reason some questions and I just want to get certain they understand that.

    Can you expose us about what the size or the percentage or the revenue of that revenue is enjoy on an annual basis and if you can, what the annual retention of that utility revenue is even if it's on a customer basis that they can sort of ascertain how repeatable that is?

    Brian Carolan -- Vice President and Chief monetary Officer

    Sure. So the utility portion of the subscription revenue or repeatable revenue is actually -- it's relatively tiny in the august scheme of the total. I would command that their retention rate is extremely lofty on that.

    This is often a pay-as-you-go model based on usage. It's a quite sticky revenue stream that repeats typically every quarter and what we're trying to Do with the ACV metric is trying to annualize that as well, because it is on a flee rate that is rather predictable for us. And it's not -- the majority of the revenue is not even close to that. They didn't command what's the number is, but it is the smaller portion of that total.

    John DiFucci -- Jefferies -- Analyst

    Okay. Well that's a start. So thanks, it's small, but it does abide a pretty lofty retention rates. So that's well-behaved to hear. Okay. And Bob listen, so just to travel along some of the questioning here, Commvault always had stout vision and products, sometimes getting to market has been a challenge, getting the products to market, but both -- both of those points, it's always been stout vision in compelling and discontinue product, but go-to-market execution seems to abide been spotty over history.

    And you said this in this quarter, the disruption was greater than you expected and so we've heard enjoy in the field of enjoy higher than modest intentional sales personnel attrition and it's -- so that seems enjoy the disruption is going to subsist -- it's going to persist here and I guess how Do you retrieve from that?

    I know you're trying to shift more to partners, but that besides increases some risk to any kind of shift those right. So I guess to some of those questions around enjoy how Do you feel confident about 9% growth next year, is it the fact that you just don't exigency sales as much as you did before with the shift to more of a product or partner-driven go-to-market strategy, because even in that case I don't know, it just look to subsist pretty notable here.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Now, let's subsist clear. Sales is silent really captious and the amaze if you want to muster it a amaze is we've always been stout in the enterprise and it drove a lot of their growth in their early years.

    And the enterprise for a couple of years shifted to buying point products, the next shiny box or whatever and that began shifting probably about six months ago, maybe a shrimp longer so a consolidated holistic play in the enterprise and that's really accelerated and those -- that gross succession of, abide if I just went through on consolidation, cost, cyber compliance and I'll just mention offline here that we've automated so much of the processes within data management now.

    So we've taken a lead in automation both on premise and the cloud. So you've got this massive shift in the enterprise that is more holistic enterprisewide solutions that requires a really stout enterprise sales obligate and I mentioned earlier, when they started Advance, but they wanted more leverage with distribution partners in the enterprise and now we've got the combination of those two.

    And then the mid-market, even though they shifted more resources to partners that's a process that is not going to befall in a day. It is happening as they speak, we're seeing in, but that engine will gain momentum quarter-on-quarter. So the retort is sales for their industry is silent extremely notable and yes, there's no doubt when you get major changes enjoy this and these are fundamental. They didn't try to troop aid it and they did it quickly.

    You're going to note some disruption because it's not only structure that they changed. Its comp and a lot of other things and pricing. So I believe the pluses well outweigh the risks on the bottom, but I don't want to minimize that they won't note some attrition, disruption as they manage their route through that. But I assume it will subsist manageable, because they got so many strengths now for their salespeople to hit their quotas and get a lot of money.

    John DiFucci -- Jefferies -- Analyst

    So it sounds enjoy sales or intentional sales attrition from what we're hearing in the field, it sounds enjoy it's accurate, but there's so many things going on here that you assume you'd subsist able to offset that?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Yes, and peek some of that goes on when you get major change.

    John DiFucci -- Jefferies -- Analyst

    Yeah, OK. Well thank you guys.

    Operator

    Thank you. Their next question comes from the line of Alex Kurtz of KeyBanc Capital Markets.Your line is now open.

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Yeah, thanks guys. well-behaved morning. I just want to supervene up on that final question, Bob, are you taking any specific actions with your top reps to incentivize them, specifically to tarry on for the next couple of quarters as you travel through this transition, is there any specific actions you're taking? I know there is a lot of organizational changes here. I was wondering if there was a program around the sales obligate around retention.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    The retort is just in generic they are taking specific action in specific cases and trying to get it easier for their sales teams to rate their quotas. There is not a generic corporatewide action. There are specific actions in the field.

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Okay. And Bob just competitively in the US, especially I know there's been a lot of discussion final couple of earnings calls around a couple of emerging platforms that are competing in the channel, just any kind of update in what you're seeing quarter-to-date, year-to-date, any changes sequentially?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Well, in the enterprise, we're seeing a significant resurgence against total the competitors, legacy and the fresh competitors in the midmarket and certain, I'll muster lower scale deployment enterprise. They clearly note the fresh converged guys in the market and they abide a lot of momentum, but now you've got a Commvault with a replete product line and much stronger distribution, to deal with that I can say.

    When they tangle into head-to-head competition now when they are there, they abide a really lofty win rate, because it's just the breadth and depth of what we're doing in terms of -- and having products that are not only competitive, what they have, but travel route beyond their capability, particularly in their aptitude to trot data into the cloud to manage it in the cloud and manage it back for a data protection that total the automated and orchestration capabilities they abide for debt test DRs and a class by itself now.

    So I assume we're in a really solid position technically and I assume we've done a lot to fundamentally change their -- and strengthen their go-to-market. So I assume internally they feel really well-behaved about total those although it was painful in the near term.

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Understood. And Brian, just final question for me, I assume historically you've called out the subscription headwind, but the dollars, I assume you've kind of projected what the delta would abide been. Sorry if I missed it this earnings call, but abide you called that out yet?

    Brian Carolan -- Vice President and Chief monetary Officer

    No, they didn't save a number on that. I'd command it's fairly consistent with what they did in prior quarters. It's probably in that $3 million to $4 million range, the headwind.

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Great. Okay. total right, thanks guys.

    Operator

    Thank you. Their next question comes from the line of Eric Martinuzzi of Lake Street. Your line is now open.

    Eric Martinuzzi -- Lake Street -- Analyst

    Yeah, my question has to Do with couple of your key channel partners, just wondering sometimes I've grown num to the HPE, the annual HPE announcement or the annual NetApp announcement. Obviously given the shift to channel dependency here and away from the direct side, what abide they done differently this year versus past years?

    I feel enjoy you've always had products that play well with them, but what are the one or two significant changes with those two key partners?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    I'll purloin HP and I'll let Al purloin the NerApp. The contrast is that they abide what I muster fully integrated online plays with HP. So when they travel to market, they travel to market with a solution that includes Commvault as far as solution and that's brand new.

    That agreement was completely fresh agreement that was executed this summer and basically went into market over the final couple of months. They abide significant deals in the funnel with them that are real that will most likely close this quarter.

    In addition to that, for example, HB had 30 people at their colleague conference this year and they've had of storage that's working with us profile globally, total their major accounts with Commvault, so that's really well-behaved on the ground integration with HP. So they save the resources, they abide the aligned plays. We've got pricing. So they got I'd command extremely well-behaved alignment with them and they're putting a lot of resource behind their partnership.

    So I'm really confident about kind of where they are with them and we're besides seeing it in their funnel growth. So it's radically different from anything we've had in the past with HP and its brand fresh and I'll let Al purloin the NerApp.

    Al Bunte -- COO

    Yeah, and I assume NetApp is similar to what Bob just said on HPE. Lots of programs, lots of campaigns, lots of sales initiatives, but I assume overall, one that Bob didn't talk about, it's applicable across total of their major particularly storage or infrastructure partners is their aptitude to deal with software-defined secondary storage.

    Notably came out with their HyperScale both Appliance and reference architecture programs and I think, Eric and you would know this, we're seeing a major, major battleground developing for secondary storage. It's total predicted that there's going to subsist a huge amount of movement in this direction.

    We besides assume in the current market that there is lot of vulnerability, to older technologies, expensive technologies and again the modern scale-out HyperScale environment is extremely compelling. So they note a number of again what I'd muster historic storage suppliers wanting to participate in this kind of trend.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Yean and Al just made a really well-behaved point and HyperScale in HP's case, they drive that on their Apollo, whether Apollo servers. So it's not just appliances, it's on their own server infrastructure for secondary storage and concurrent with that, there is no doubt that their platform and its aptitude to seamlessly manage data on premise and in the cloud across an enterprise is a major strategic odds versus anybody out there.

    Eric Martinuzzi -- Lake Street -- Analyst

    Okay. Because that's -- they don't lack for people looking out your competitors besides abide programs with them. So I'm lighthearted to hear there is higher level of executive commitment for you guys.

    Brian Carolan -- Vice President and Chief monetary Officer

    Higher level of integration.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    And to subsist clear in HPE case and they Do abide a competitor, in the enterprise they're focused with Commvault and the enterprise. The HPE play is mainly a big enterprise -- global big enterprise play.

    Eric Martinuzzi -- Lake Street -- Analyst

    Okay. Thank you.

    Operator

    Thank you. And I'm showing no further questions at this time. Ladies and gentlemen, thank you for participating in today's conference. This concludes today's program. You may total disconnect. Everyone abide a worthy day.

    Duration: 74 minutes

    Call participants:

    Michael Picariello -- MD of Americas Research

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Brian Carolan -- Vice President and Chief monetary Officer

    Joel Fishbein -- BTIG, LLC -- Analyst

    Aaron Rakers, -- Wells Fargo -- Analyst

    Jason Ader -- William Blair -- Analyst

    Andrew Nowinski -- Piper Jaffray -- Analyst

    John DiFucci -- Jefferies -- Analyst

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Eric Martinuzzi -- Lake Street -- Analyst

    Al Bunte -- COO

    More CVLT analysis

    Transcript powered by AlphaStreet

    This article is a transcript of this conference muster produced for The Motley Fool. While they strive for their absurd Best, there may subsist errors, omissions, or inaccuracies in this transcript. As with total their articles, The Motley Fool does not assume any responsibility for your consume of this content, and they strongly hearten you to Do your own research, including listening to the muster yourself and reading the company's SEC filings. tickle note their Terms and Conditions for additional details, including their Obligatory Capitalized Disclaimers of Liability.

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