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

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

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HP Selling HP traffic 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 vast 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 breathe 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 acquire now emerged with offers in hand, and they now acquire 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 obsolete 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 tall 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 benign cover keyboard for $800 at Costco (word this deal is quiet attainable, but backordered unless December). And the newest Apple iPad seems to breathe an early favorite this yr, accessible now for $250 -- it is an $eighty constrict -- in distinctive outlets.

also, workplace Depot appears to breathe undercutting many other retailers with a handful of advanced offers this year. contributors of its rewards program will snare early access to a few of them nascence 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 blueprint and other tech uphold features. 

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

2:06

As All the time, stand in mind the caveats. Some of those deals might likewise already breathe 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 unique offers from Apple, source 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 station pc, target, Sam's club, Staples and Walmart. When greater are available, they are going to consist of them too. 
  • CNET might likewise snare a partake 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 breathe 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 breathe the lowest cost they are going to behold this 12 months. This deal is likewise 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.

    behold at Amazon examine the CNET evaluate surface seasoned 6 with surface Pen and type 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 unique floor professional 6 with Intel Core i5, floor Pen and surface type cowl for $800. typically, the finished set would permeate greater than $1,a hundred.

    be conscious that gold standard buy additionally has an outstanding floor pro bundle: You snare 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 quiet -- that brings the charge 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. 

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

    Amazon will gash charge 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, strong efficiency and 32GB of storage, is a total steal. 

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

    behold 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 hard drive, is a extraordinary value.

    be conscious 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.

    behold 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 snare an eighth-gen Intel Core i3 plus 8GB of RAM and a major 1TB hard 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.

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

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

    Deal attainable now via Nov. 26.

    behold 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 snare 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.

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

    loads of agents acquire deals happening this laptop -- but they acquire 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 vast 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.

    behold 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 constrict with the aid of identifying extra tall 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.

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

    We acquire 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.

    behold 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 travail and, complemented through its audio system, makes it first rate for video, music and games. It likewise has quite a lot of battery life to snare you in the course of the day. or not it's at present selling for $600 however another $100 will arrive off the rate once the Black Friday sale kicks off.

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

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

    We're lovers of source computing device, and its Eon15-S, which comprises some features you finish not perpetually behold 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 likewise 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.

    behold at nascence 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 wee case -- and Amazon is including the efficient Nvidia GeForce RTX 2080 with this configuration.

    Deal starts Nov. 23.

    behold 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 snare a capable 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. 

    behold 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 reclaim yourself some censorious 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 likewise providing this deal.)

    Deal obtainable now. 

    behold 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 speed hot. 

    Deal accessible Nov. 22-26.

    behold 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 breathe satisfactory configuration -- Intel Core i7, 16GB of RAM and 2TB hard 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.

    behold 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 prerogative down to earth. For $900, you snare a pretty 21.5-inch, 4K-decision screen, a capable Intel Core i5 CPU and a capacious 1TB difficult pressure. word that the 27-inch mannequin will even breathe on sale for $1,600.

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

    behold 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 hold 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.

    behold 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 acquire a difficult time marking them down more -- even All the passage through Black Friday. They haven't reviewed this specific 14-inch Chromebook through HP but the specs seem respectable at this cost. 

    Deal attainable now via Nov. 24.

    behold 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 snare 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.

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

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

    Deal available now.

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

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

    Deal purchasable now.

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

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

    Deal accessible Nov. 22-24.

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

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

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

    The Dell UltraSharp 27 is brilliant, with capable standard-aim conclusion and colour excellent -- and Costco has it for the bottom expense they now acquire viewed.

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

    behold at Costco read the CNET overview Black Friday 2018 deals in every class Black Friday 2018 offers for confident 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 engage 2018

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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 rehearse 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 discover no matter if the reconstructed HP is eventually on strong 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 betide to sell HP?
  • normal forecast and outlook for HP.
  • Let’s snare 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 traffic (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 traffic (NYSE: HPE).

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

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

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

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

    HP may additionally acquire 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 breathe an open question.

    beneath, we’ll accomplish sustain of HP in its present incarnation and let you know even if the stock is a very capable purchase or a toxic fairness to prevent.

    How Has HP inventory carried out?

    HP’s stock has constantly beaten the market. during the last one year, HP has gained 19%, in comparison to eight.6% for the S&P 500. over the last 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 partake of global middling laptop shipments in 2017:

    hp versus its competitors

    Let’s appear on the capable 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 exact continues to wane for its products. The traffic spent too an needy lot funds trying to diversify faraway from laptops and it’s now struggling to carrier its $10.eight billion charge of internet liabilities.

    The pc market remains fiercely competitive and Lenovo isn’t equipped to carry compelling unique 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 vast debt burden. The enterprise’s product line is diffuse, its expertise lackluster, and its corporate method 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 center 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 depart Up In 2019 (should you buy)?

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

    The business’s printing traffic 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 discover areas of unique increase, HP is offering high-conclusion, greater expensive PCs that treat 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 solid is likewise making a commodious thrust 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 gash price, to boot.

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

    Will HP depart 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 intricate corporate restructuring acquire taken their toll on employee morale. What’s greater, the computer trade is in decline. the upward thrust of mobile ecosystems weighs closely on the exact for natural PCs.

    financial restructuring lonely may now not breathe satisfactory to resurrect Hewlett’s traffic 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 last 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 passage 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 breathe 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 acquire the fiscal firepower to returned it up. HP sits on a cash hoard of greater than $7 billion, offering wherewithal to accomplish additional strategic acquisitions.

    The commonplace analyst expectation is that HP’s yr-over-year income boom will attain 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 arrive in at 11.7%, which represents a dainty turnaround from the motif of -17.eight% posted All through the remaining five years. The hardy dividend defer 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.


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

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

    Test Code : HP2-K19
    Test appellation : Selling HP traffic Class Storage(R) Solutions
    Vendor appellation : HP
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    Commvault Systems, Inc. (CVLT) Q2 2018 Earnings Conference summon 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 summon is being recorded.

    I would now relish to interpolate 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 summon are Bob Hammer, Chairman, President and Chief Executive Officer, Al Bunte, Chief Operating Officer and Brian Carolan, Chief fiscal Officer.

    Before they begin, I'd relish to remind everyone that statements made during this call, including in the question-and-answer session at the halt of the call, may embrace forward-looking statements, including statements regarding fiscal projections and future performance. All 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 general economic conditions. For a discussion of these and other risks and uncertainties affecting their business, gratify behold the risk factors contained in their Annual Report in shape 10-K and their most recent quarterly report in shape 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 summon under any circumstance. In addition, the progress 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 likewise has been furnished to the SEC as an 8-K filing. The press release is likewise available on their Investor Relations website.

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

    Commvault adopted the unique revenue standard ASC606 on April 1, 2017. Their adoption was done on a retrospective basis, All prior periods in their fiscal statements acquire been adjusted to comply with the unique rules.

    As a result, the results and growth percentage they will discuss today are on a comparable basis using the unique rules. All 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 likewise embrace a slide presentation as partake of Commvault prepared remarks to facilitate updates on their Commvault forward initiatives. These initiatives embrace an update on their transition to subscription revenue models, as well as their recent operational review. The slides likewise cover their announcement of unique multi-year revenue and operating margin targets. If you've not done so already, I would insinuate logging into the webcast now to view or download a copy of the slides.

    Please likewise note that in order to best behold the slides, they insinuate enabling plenary screen slide mode within the webcast. In addition, the slides can likewise breathe downloaded from the Commvault website under the Investor Relations page.

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

    I will now swirl the summon over to Bob.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Thank you Mike, and capable morning, everyone and thank you for joining their fiscal second quarter FY '19 earnings call. On today's summon they will discuss their fiscal 2019 second quarter results, their multi-year traffic model transformation to deliver shareholder value called Commvault Advance, including an update on the progress they acquire made to accelerate their transition to subscription revenue models, the results of their recent operational review, which includes the announcement of unique multi-year revenue and operating margin targets, and an update on their partake repurchase program. Let me briefly summarize their Q2 fiscal 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 partake versus $0.21 in the prior fiscal year.

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

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

    As a reminder, last quarter they were implementing a major corporatewide transformation called Commvault Advance. gratify hold note that Commvault issued a press release this morning, outlining the significant progress they acquire made since announcing Commvault forward in May.

    The goals of Commvault forward are to establish a strong foundation to better revenue, while at the selfsame 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 application 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 forward related changes they made during the quarter, including reorganization of their sales and distribution organizations, which in partake shifted a significant percentage of domain resources to uphold their channel and alliance partners and major simplification of both products pricing to accomplish their solutions easier to both sell and buy.

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

    Based on the early results of these changes, they are already seeing improved momentum and acquire seen a keen augment in funnel growth, strong order flood in October and solid forecast from the field. However, given the early stage of their transformation, they blueprint to remain conservative with their near-term outlook until they can validate the positive churn of the traffic 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 hold advantage of the major shift in the market and significantly improves their talent to execute their strategy and drive revenue and earnings growth.

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

    As data scale increases, they are likewise well on their path to their exit by scale in their platform. They now acquire 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 limpid technology leader and migrating and managing data in the cloud with IBM's $35 billion acquisition of Redhat this weekend, there will breathe additional focus on cloud and Commvault is well positioned to hold advantage 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 partake of Advance, they are laser focused on improving their talent to accelerate revenues through a much stronger sales and distribution. These efforts acquire been further bolstered with the recent hiring of several sales leaders with strong 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 traffic 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 component of Commvault forward is to create and enhance expanded and simplified product portfolio, which includes product innovations that accomplish it easier for customers to install and utilize their products and changes to packaging and pricing structures to accomplish 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 cataclysm recovery, data test and data migration, particularly in the cloud and fourth, Commvault Activate, which is designed to succor customers know their data and then discover and extract unique traffic insights from data under management whether that data is on-premise or in the cloud.

    All these products acquire built upon a common software and technology platform they summon 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 breathe fully integrated with the HPE store once appliances. The integration will allow backup data to breathe moved natively to the cloud or back to on premise. They anticipate this integration to breathe 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 domain organizations and set aside structure around their drawing pipeline build.

    We recently announced an expanded partnership with whereby NetApp is now a plenary 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 anticipate to behold significant funnel build and revenue progress with both HP and NetApp during Q3. They remain excited about the traffic break represented by their alliances with All of these leading technology vendors and believe that these relationships will drive significant break for Commvault going forward.

    Let me talk about their transition to subscription pricing. nascence in fiscal 2018, they began transitioning a significant portion of their unique 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 prerogative long-term model in order to drive, better and sustainable revenue growth for the future. Brian will highlight some of these key metrics, which demonstrate 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 better 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 acquire 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 partner 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 ersatz intelligence to automatically adjust backup schedules, dynamically auto optimize operations to better IT resource utilization, hold immediate actions to mitigate damage from a cyber storm and provide real time alerts on censorious issues.

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

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

    Now that the foundation of Commvault forward is in place, they believe they will behold increased topline momentum, as their channel strategy, go-to-market initiatives and alliance partnerships has started to demonstrate 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 partake in great enterprises with the journey to the cloud and solutions to succor customers mitigate and regain from a cyber storm with highly automated, machine learning and ersatz intelligence aided data protection, cataclysm recovery and intrusion detection and mediation.

    Third, becoming a leading foundation for governance, data analytics and as an optimized data source from traffic 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 unique innovative product offerings and pricing.

    In summary, the implementation of the Commvault forward 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 station for the company to execute and deliver improved fiscal performance.

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

    Brian Carolan -- Vice President and Chief fiscal Officer

    Thank you, Bob and capable morning everyone. In addition to covering the traditional fiscal highlights for the second quarter of fiscal 2019, I will likewise expend time updating you on the progress they acquire 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 likewise update you on the results of their recent operational review, which includes the announcement of unique multiyear revenue and operating margin targets. And lastly, I will provide you an update on their partake repurchase program.

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

    Q2 total revenues were $169.1 million representing an augment of 1% over the prior year period. On a sequential constant currency basis, total revenue would acquire 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 middling 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 facet 1 of Commvault forward and organize significant efficiencies in their cost structure, which included reducing their overall headcount by approximately 7% since the nascence of the fiscal year. They ended the September quarter with 2,644 employees.

    In addition, as they depart through facet II of Commvault Advance, they remain focused on maintaining their technological leadership position in the industry. They finish not anticipate these operational initiatives to acquire an adverse repercussion their product progress 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 middling partake weigh 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 middling partake weigh for plenary year FY '19 will breathe 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 last six quarters has been very successful.

    For the sake of clarity and transparency, they are introducing two revenue metrics to succor investors track the growth and progress of their subscription revenue transition. As you will see, subscription revenue is becoming a larger portion of the traffic 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 summon 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 All of Commvault software and product revenue is related to solutions that are speed in the customers on-prem environment for cloud infrastructure.

    We currently finish not acquire 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 accurate 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 acquire 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 era of sale.

    The only exception to this point in time recognition principle for their software products is sales of their pay as you depart 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 constrict term.

    Slide 10 includes a summary of the benefits of subscription models. They acquire heard from many of their enterprise customers that consumption-based pricing such as subscription arrangements is very tall 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 race 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 traffic and technology. If subscription arrangements accomplish 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 peep at a simple representative instance 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 acquire 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 era 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 charge is inclusive of both software and maintenance and support. Over time typically, after the first read All (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 likewise realize other fiscal 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 well-known 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 demonstrate the potential value of the transition to CommVault shareholders.

    The first is repeatable revenue and the second is a unique metric not previously discussed, but widely used in the industry and that is annual constrict 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 celebrated 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 deem approximately 71% of their Q2 total revenue to breathe 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 last year.

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

    The second metric, I would relish to discuss is the subscription and utility annual constrict 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 energetic 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 energetic utility or pay as you depart usage billings.

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

    This metric will breathe a valuable data point to demonstrate the growth of their subscription and utility-based pricing models that they anticipate to drive unique 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 era of selling subscription licenses. Importantly, ACV is accelerating and achieved approximately 90% year-over-year growth this quarter.

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

    I would now relish to expend the next few minutes addressing both their near-term fiscal outlook and their longer-term operating targets. As outlined in today's press release, they acquire been making capable progress within their Commvault forward framework across All 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 fiscal performance of the company, while they anticipate that the changes they acquire made to products, pricing, distribution and partnerships will drive future revenues and operating leverage, they likewise took actions to align their cost structure with a reasonable revenue growth target.

    As Bob discussed earlier, the implementation of the Commvault forward initiatives resulted in near-term disruption that did not allow us to achieve their Q2 and near-term topline objectives. They are likewise conservatively planning for modest revenue growth in Q3 and Q4. They anticipate third quarter total revenue to breathe 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 behold margin expansion and strong year-over-year earnings growth based on the cost-cutting initiatives they began in early fiscal 2019.

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

    While their strategic fundamentals are strong and their talent to execute has improved, they quiet puss censorious challenges. It is well-known to note that Commvault forward 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 forward are in place, there is a confident component 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 acquire discussed for many quarters, they are currently reliant upon a constant inflow of great six and seven-figure deals, which arrive with additional risks due to their complexity and timing.

    While they likewise necessity to better their nigh rates on these deals, great deal closure rates will likely remain lumpy, particularly in the near term. And lastly, while they are elated 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 acquire a dampening sequel on revenue, but they believe will ultimately result in a higher lifetime value. As previously stated, fiscal '19 will breathe impacted by the near-term disruption of the changes they implemented that as partake of their Commvault forward 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 behold 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 likewise breathe a key component of their improved fiscal performance. As you can behold 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 break 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 constrict value.

    As previously discussed, their current ACV is approximately $76 million. Their goal is to achieve approximately $240 million of subscription and utility annual constrict value by the halt of fiscal '21. The $240 million goal is approximately eight times the ACV they stated with when they began their race 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 forward 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 behold 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 alien 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 return as much cash as possible back to the U.S., they may not breathe able to finish so in an economically efficient manner or may breathe limited by alien laws and regulations.

    However, they finish believe that steps they are taking will result in the vast majority of future net cash flood to breathe concentrated in the US.

    Free cash flow, which they define as cash flood 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 augment of 7% over the prior year period. Nearly All of their deferred revenue is services revenue that has been invoiced to customers.

    Lastly, let me update you on their partake repurchases. During fiscal 2019, which includes transactions through yesterday, they acquire repurchased approximately $47 million or approximately 707,000 shares of their common stock at an middling 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 partake 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 summon back over to Bob. Bob?

    Robert Hammer -- Chairman, President and Chief Executive Officer

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

    We announced a number of unique products and services including an exciting unique passage for customers to interface with their software called Commvault Command Center, unique 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 unique console for managing Commvault's complete portfolio of products across an entire enterprise on premise, cloud and halt point infrastructures.

    The Command center is enhanced with the power of ersatz 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 talent to hold corrective actions.

    Broad-based security enables IT, Admin and halt users to acquire their own easily customizable dashboards. The Command center can breathe deployed on premise or in the cloud and is available now.

    We announced a unique backup and recovery as a service offering to deliver Commvault's powerful simplicity for customers wishing to consume backup and recovery necessity as a service. They likewise 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 breathe available within cloud marketplaces for ease of acquisition and deployment. Customers can purchase the services as a Pay As You depart license or as a fixed term subscription. They likewise expanded the company's family of appliances with addition of two unique appliances. The unique appliances expand their offerings into a family of small, medium and great appliances that enable their customers to cost effectively scale from 10 terabytes to more than a petabyte or 10s of petabytes.

    The unique larger appliance is targeted at managed service providers and great enterprises featuring stellar technology with their Commvault Hyperscale software. The wee offering takes a plenary power of Commvault complete backup recovery into an appliance offering perfect for remote office and arm offices.

    All of their appliances can breathe used to seamlessly backup data on-premise or race 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 demonstrate Al and I likewise delivered a keynote presentation that outlined unique 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 unique industry benchmark for what it means to breathe complete and backup and recovery solutions. Advances in machine learning and AI will create a sales driving relish sustain that redefines how customers engage with their software. This is made possible through the capabilities of the unique Commvault Command Center.

    Secondly, the simple SmartCloud highlighting Commvault's talent to deliver a plight 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 accurate extension of a modern on-premise data center.

    And lastly, they continue to better customers' learning 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 anticipate more as they deliver truly complete backup and recovery.

    Before they wrap up, let me briefly update you on the search process for a unique 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 passage and the search committee is making capable progress.

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

    We acquire made comprehensive operational changes over the last 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 nascence of the year were evidenced in the 61% year-over-year EBIT improvement. Now that the foundation of Commvault forward is in place, they believe they will behold increased momentum as their channel strategy, go-to-market initiatives and alliance partnerships start to demonstrate positive traction.

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

    Our objective is to accomplish confident they achieve their near-term fiscal objectives while solidifying their Commvault forward Foundation for FY '20. Their immediate focus is to achieve their Q3 revenue and earnings forecasts.

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

    Michael Picariello -- MD of Americas Research

    Operator, can you gratify 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 acquire one for Bob and one for Brian. I'll start with Brian. Hey Brian, thanks for the detail on the race to the subscription model. What I'm just trying to understand is with a lot of these companies, you start this -- you behold deferred revenue grow prerogative as you badge 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 request Bob the next question.

    Brian Carolan -- Vice President and Chief fiscal Officer

    Sure. capable 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 era of sale on the software portion.

    The only thing that goes into deferred revenue potentially would breathe the maintenance that's attached to that, just relish a gardenvariety arrangement under perpetual model. It's the selfsame type of carve out for maintenance and uphold that gets deferred over the contractual term.

    So you don't behold it demonstrate up in deferred. It actually shows up in era 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 capable visibility into the traction that we're making on more repeatable revenue models.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Would you acquire a backlog number then, relish in terms of total constrict backlog or is that not a metric that might breathe meaningful?

    Brian Carolan -- Vice President and Chief fiscal Officer

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

    Joel Fishbein -- BTIG, LLC -- Analyst

    Okay. Great. And then Bob just for you, what gives you self-possession that you can grow 9% next year? Obviously you're making a lot of changes prerogative 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 insinuate substantial uptick in funnel flood 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 great deals into the funnel and those deals were tied a trend in the industry for great enterprises to consolidate All 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 augment in great deal and flood likewise gives us optimism for this current quarter and it's continued.

    And secondly, as I discussed in my remarks, they now acquire a much stronger distribution position and although that's going to hold a tiny time to repercussion their earnings, we're starting to behold that as well, so fortunately they got a massive significant upturn in their I'll summon it core enterprise traffic and likewise that is likewise being driven by a much stronger partner and alliance relationships in the enterprise.

    And from the midmarket standpoint, they are seeing capable traction with their appliances in Commvault Complete and unique pricing. So the gross foundation at Commvault Complete was not try to accomplish changes here. That's why it goes back a couple years to accomplish 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 deem we've done this the prerogative passage although it had some attended risks as they made these massive changes last 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 depart back to that last question and just understand the variables at play to underpin what looks to breathe a 17%-plus sequential augment in your implied software license revenue this quarter.

    I deem with that in mind, it would breathe 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 augment conservatism sane or what you behold to drive that flat of sequential growth?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    So the funnel growth Aaron is material and significant. I insinuate it's -- we're talking about a very major augment in the growth of funnel, particularly in great enterprises and particularly in the Americas and the assumptions we're making on funnel nigh what I summon reasonable and Brian can own that question.

    So we're not putting commodious nigh 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 likewise peep really capable relative to the guidance they just provided.

    Brian Carolan -- Vice President and Chief fiscal Officer

    Yeah, I deem just to result on with Bob's point, we're using fairly typical and middling nigh rates applying that to the current quarter funnel. Again, they behold a hardy uptick in their enterprise deal funnel heading into this quarter, which we're pleased with. Although I did converse that could breathe 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 benign of validates what you saw it depart 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 deem last quarter Bob, in response to your question, you said that basically 98% I deem was the number that the total sales obligate realignment efforts acquire been completed.

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

    Robert Hammer -- Chairman, President and Chief Executive Officer

    I would converse the bulk of this is behind us, but as they depart forward and bring the leadership in, which we've done, I deem over time they will continue to refine that model. So I deem there are additional benefits to breathe 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 accomplish the observation that the search committee is making very capable progress on the CEO search.

    Jason Ader -- William Blair -- Analyst

    Okay. objective enough. And then over the last few years, we've seen a series of restructuring and pricing and packaging changes. I know that you guys are optimistic on the things that you're implementing prerogative now, but why should investors believe that this time is going to breathe 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. All I can converse 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 summon it $3 million, $4 million, $5 million, $6 million benign of deals and they're accelerating.

    So we've got that, that's real and these deals are well scrubbed and they're piteous 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 deem fundamentally, they didn't try to finish a quick fix here. They try to really understand the market dynamics and address it.

    In addition, let me breathe limpid about this, if you peep 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 deem there is a stronger platform in the industry than what they acquire here at Commvault.

    And we've been able to hold the next step and enhancing that platform for let's summon it multiple exabytes scale, which they anticipate will breathe in the market sometime early next fiscal year. It's not that far away. So I deem technically we're in a really capable position.

    I deem we're seeing the real traction from the consolidation taking station in the enterprise across the Board for data management functions. I deem cyber is a commodious driver of that and we've had really capable success in taking major customers and they when they regain from major cyber attacks, they had most present at their depart Conference as a capable instance of that.

    Clearly, things relish GDPR compliance are playing a role of that and the cloud is becoming increasing well-known and I don't deem there is any platform on the planet that allows customers to natively utilize the cloud and All its aspects relish they have.

    So in spite of the changes the things they made, I deem the company is fundamentally in a extremely strong strategic position to accelerate growth and they acquire 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. capable morning. So looking at slide 21, your assumptions for repeatable revenue growth insinuate growth of just 17% in fiscal '19. I deem that decelerates to about 16% by fiscal '21, despite the blend continuing to increase.

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

    Brian Carolan -- Vice President and Chief fiscal Officer

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

    Andrew Nowinski -- Piper Jaffray -- Analyst

    Okay. objective 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 talent 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 last quarter they basically took the domain 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 deem what we've stated is accurate, that you can't draw any long-term conclusion from what happened last 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 acquire a question for Brian and then maybe a follow-up for Bob. So Brian thanks again for All that information on the transition of this subscription model, that's All really helpful. But when they peep at that -- the utility revenue, I deem that's one piece that's going to cause some questions and I just want to accomplish confident they understand that.

    Can you expose us about what the size or the percentage or the revenue of that revenue is relish 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 fiscal Officer

    Sure. So the utility portion of the subscription revenue or repeatable revenue is actually -- it's relatively wee in the majestic scheme of the total. I would converse that their retention rate is extremely tall 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 finish with the ACV metric is trying to annualize that as well, because it is on a speed rate that is by a long shot predictable for us. And it's not -- the majority of the revenue is not even nigh to that. They didn't converse 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 acquire a pretty tall retention rates. So that's capable to hear. Okay. And Bob listen, so just to depart along some of the questioning here, Commvault always had strong 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 strong vision in compelling and halt product, but go-to-market execution seems to acquire been spotty over history.

    And you said this in this quarter, the disruption was greater than you expected and so we've heard relish in the domain of relish higher than gardenvariety voluntary sales personnel attrition and it's -- so that seems relish the disruption is going to breathe -- it's going to persist here and I guess how finish you regain from that?

    I know you're trying to shift more to partners, but that likewise increases some risk to any benign of shift those right. So I guess to some of those questions around relish how finish you feel confident about 9% growth next year, is it the fact that you just don't necessity 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 seem to breathe pretty well-known here.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Now, let's breathe clear. Sales is quiet really censorious and the amaze if you want to summon it a amaze is we've always been strong 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 tiny longer so a consolidated holistic play in the enterprise and that's really accelerated and those -- that gross series of, stand 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 strong 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 betide in a day. It is happening as they speak, we're seeing in, but that engine will gain momentum quarter-on-quarter. So the own is sales for their traffic is quiet extremely well-known and yes, there's no doubt when you accomplish major changes relish this and these are fundamental. They didn't try to corps aid it and they did it quickly.

    You're going to behold 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 behold some attrition, disruption as they manage their passage through that. But I deem it will breathe manageable, because they got so many strengths now for their salespeople to hit their quotas and accomplish a lot of money.

    John DiFucci -- Jefferies -- Analyst

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

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Yes, and peep some of that goes on when you accomplish 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. capable morning. I just want to result up on that last question, Bob, are you taking any specific actions with your top reps to incentivize them, specifically to sojourn on for the next couple of quarters as you depart 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 own is just in general they are taking specific action in specific cases and trying to accomplish it easier for their sales teams to merit their quotas. There is not a general 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 last couple of earnings calls around a couple of emerging platforms that are competing in the channel, just any benign 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 All the competitors, legacy and the unique competitors in the midmarket and certain, I'll summon lower scale deployment enterprise. They clearly behold the unique converged guys in the market and they acquire a lot of momentum, but now you've got a Commvault with a plenary product line and much stronger distribution, to deal with that I can say.

    When they snare into head-to-head competition now when they are there, they acquire a really tall 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 depart passage beyond their capability, particularly in their talent to race data into the cloud to manage it in the cloud and manage it back for a data protection that All the automated and orchestration capabilities they acquire for debt test DRs and a class by itself now.

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

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

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

    Brian Carolan -- Vice President and Chief fiscal Officer

    No, they didn't set aside a number on that. I'd converse 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. All 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 finish 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 acquire they done differently this year versus past years?

    I feel relish 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 hold HP and I'll let Al hold the NerApp. The dissimilarity is that they acquire what I summon fully integrated online plays with HP. So when they depart to market, they depart to market with a solution that includes Commvault as far as solution and that's brand new.

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

    In addition to that, for example, HB had 30 people at their partner conference this year and they've had of storage that's working with us outline globally, All their major accounts with Commvault, so that's really capable on the ground integration with HP. So they set aside the resources, they acquire the aligned plays. We've got pricing. So they got I'd converse extremely capable alignment with them and they're putting a lot of resource behind their partnership.

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

    Al Bunte -- COO

    Yeah, and I deem NetApp is similar to what Bob just said on HPE. Lots of programs, lots of campaigns, lots of sales initiatives, but I deem overall, one that Bob didn't talk about, it's applicable across All of their major particularly storage or infrastructure partners is their talent 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 All predicted that there's going to breathe a huge amount of movement in this direction.

    We likewise deem 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 behold a number of again what I'd summon historic storage suppliers wanting to participate in this benign of trend.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Yean and Al just made a really capable 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 talent to seamlessly manage data on premise and in the cloud across an enterprise is a major strategic advantage versus anybody out there.

    Eric Martinuzzi -- Lake Street -- Analyst

    Okay. Because that's -- they don't want for people looking out your competitors likewise acquire programs with them. So I'm cheerful to hear there is higher flat of executive commitment for you guys.

    Brian Carolan -- Vice President and Chief fiscal Officer

    Higher flat of integration.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    And to breathe limpid in HPE case and they finish acquire a competitor, in the enterprise they're focused with Commvault and the enterprise. The HPE play is mainly a great enterprise -- global great 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 All disconnect. Everyone acquire a much 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 fiscal 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 summon produced for The Motley Fool. While they strive for their ridiculous Best, there may breathe errors, omissions, or inaccuracies in this transcript. As with All their articles, The Motley Fool does not assume any responsibility for your utilize of this content, and they strongly hearten you to finish your own research, including listening to the summon yourself and reading the company's SEC filings. gratify behold their Terms and Conditions for additional details, including their Obligatory Capitalized Disclaimers of Liability.

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