Dell Technologies Inc (NYSE:DELL) delivers strong result

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Dell Technologies Inc (NYSE:DELL) stock rose 5.16% (As on Nov 24, 11:16:15 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the third quarter of FY 22 driven largely by strong demand for its PCs. Dell’s third-quarter profit rose to $3.89 billion from $881 million last year. Client Solutions Group revenues grew to 35% to a record $16.5 billion, with commercial revenue up 40% and consumer revenue up 21%. The company said the segment’s growth reflects continued increase in high-value segments, including commercial PCs, high-end consumer and gaming. The company also achieved its highest year-over-year PC share gain in history for calendar third quarter, with shipments up 26.6% and global PC share up 3.0 points to 17.4%. Infrastructure Solutions Group revenue rose 5% to $8.4 billion, as servers and networking revenue was up 9% and storage revenue inched up 1%. Operating income was $892 million or approximately 10.6% of Infrastructure Solutions Group revenue. Customer investments in IT infrastructure and digital transformation will continue to drive strong demand for compute and storage and create future growth opportunities for new innovations in multi-cloud, telecom and 5G. Dell Technologies ended the quarter with remaining performance obligations of $47 billion, up 26%, deferred revenue of $31 billion, and cash and investments of $24.2 billion. The company has paid down a total of $15.9 billion of debt year-to-date and received an Investment Grade corporate family rating from all three of the major credit rating agencies.

DELL in the third quarter of FY 22 has reported the adjusted earnings per share of $2.37, beating the analysts’ estimates for the adjusted earnings per share of $2.33, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 21 percent to $28.41 billion in the third quarter of FY 22, beating the analysts’ estimates for revenue by 3.81%. The non-GAAP operating income was a third quarter record of $2.9 billion, up 5%.

Moreover, the company during the quarter had announced new Latitude Rugged notebooks – including the industry’s smallest 5G-capable 13″ fully-rugged laptop. The company has timed to the 25th anniversary of Alienware – released the redesigned Alienware Aurora, the pinnacle of gaming desktop experiences. With a special focus on airflow and thermals, the open-air design provides better accessibility and improved performance – enriching the gaming experience in every possible way.

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