Dell Technologies Inc (NYSE:DELL) Operating Income Increases

Dell Technologies Inc (NYSE:DELL) stock rose 5.38% (As on November 22, 12:56:04 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the third quarter of FY 22. Operating income was a record $1.8 billion, up 68%, representing 7.1% of revenue, and non-GAAP operating income was a record $2.4 billion, up 22%, representing 9.6% of revenue. Net income from continuing operations was $241 million, and non-GAAP net income was $1.7 billion. Dell Technologies ended the quarter with remaining performance obligations of $39 billion and deferred revenue of $27.1 billion. Recurring revenue for the third quarter was approximately $5.4 billion, up 11% year-over-year. Cash and investments were $6.5 billion, and $847 million was returned to shareholders in the third quarter through share repurchases and dividends.

DELL in the third quarter of FY 22 has reported the adjusted earnings per share of $2.30, beating the analysts’ estimates for the adjusted earnings per share of $1.60, according to Zacks Investment Research. The company had reported the adjusted revenue fell 6 percent to $24.72 billion in the third quarter of FY 22, beating the analysts’ estimates for revenue of $24.48 billion.

Moreover, Infrastructure Solutions Group delivered record third quarter revenue of $9.6 billion, up 12% year-over-year and its seventh consecutive quarter of year-over-year growth. Servers and networking revenue was $5.2 billion, up 14%. Storage revenue was $4.4 billion, up 11%. Operating income was a record $1.4 billion, up 54% and approximately 14.3% of Infrastructure Solutions Group revenue. Client Solutions Group delivered third quarter revenue of $13.8 billion, down 17% year-over-year. Commercial revenue was $10.7 billion, down 13%, and Consumer revenue was $3 billion, down 29%. Operating income was $1.1 billion, down 7% and approximately 7.7% of Client Solutions Group revenue.

On the other hand, Dell launched Cybersecurity Advisory Services and a new vulnerability management service, providing organizations with tools and actionable insights to secure their IT environments. As part of continuing APEX momentum, Dell PowerFlex block storage is now available in the AWS Marketplace. Dell added a customer-managed option for APEX Data Storage Services, helping customers easily transition to an as-a-Service environment. Dell announced Project Frontier, an edge operations software platform that centralizes customers’ software applications, operational technologies and multicloud environments with Zero Trust-enabled security protection to securely scale edge operations for any enterprise use case.

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