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.