Dell Technologies Fourth-Quarter Earnings Beat Views, Revenue Misses
MT Newswires
28 Feb
Adjusted earnings rose to $2.68 a share for the quarter ended Jan. 31 from $2.27 a year earlier, beating the FactSet-polled consensus of $2.52. Revenue increased 7% to $23.93 billion, but missed the Street's view of $24.57 billion.
Dell's shares were up 3.9% in after-hours trade.
Revenue in the infrastructure solutions group advanced 22% year-over-year to $11.35 billion, buoyed by a 37% jump in servers and networking as demand for artificial intelligence and traditional servers grew, Dell said.
"Our prospects for AI are strong, as we extend AI from the largest cloud service providers, into the enterprise at-scale, and out to the edge with the PC," Chief Operating Officer Jeff Clarke said in a statement.
Sales for the client solutions group, which includes personal computers, rose 1% to $11.88 billion, driven by a 5% increase in the commercial segment.
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