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Dell's quarterly profit increased by 60%

25 November 2020
1740
2 min.
3
Dell's quarterly profit increased by 60%

Dell Profit

Dell Technologies Inc.'s net profit for the 3Q 2021 fiscal year ended 30 October was $881 million, or $1.08 per share, compared to $552 million, or $0.66 per share, for the comparative period a year earlier, according to the company's press release.

In addition, the figure rose by almost 60 per cent due to strong demand for personal computers as a result of the shift to remote work and training caused by the COVID-19 pandemic.

Adjusted earnings rose to $2.03 per share from $1.75.

Revenue increased by 3% to $23.482 billion from $22.844 billion a year earlier.

Dell's Customer Solutions business increased 8% to $12,286 billion in the last quarter. The Infrastructure Solutions business generated revenue of $8,024 billion, 4% below the previous year.

VMWare, the virtualization technology developer controlled by Dell in its deal with EMC, posted net revenues of $434 million, or $1.02 per share, in August-October compared to $407 million, or 96 cents per share, for the same period last year. Adjusted earnings rose to $1.66 per share from $1.49. Revenue increased to $2.86 billion from $2.66 billion a year earlier.

Experts expected adjusted earnings at $1.44 per share and earnings at $2.81 billion.

At the same time, VMWare improved its forecast for the entire financial year and now plans to get adjusted earnings at $7.03 per share and revenue of about $11.7 billion. Analysts estimate these figures at $6.66 per share and $11.62 billion, respectively.

Dell's share price fell by 0.7% in electronic trading on Tuesday after the report was published. Since the beginning of the year, the company's capitalisation has increased by almost 37% (to $51.8 billion), while the Standard Poor's 500 stock index added 12.5% over this period.

VMWare on Tuesday fell in price by 1.2 per cent and the company's value has fallen by 0.8 per cent since the beginning of the year.

Companies3 in the news

EMC
EMC
1 place
VMware
2 place
Dell
3 place
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