Dell Forecasts Current Quarter Revenue Above Estimates

Share post:

Laptop maker Dell Technologies Inc announced buoyant revenue forecasts for the current quarter, pointing to robust demand for its personal computers and servers from companies that are switching to a hybrid working model.

The tech giant said it expects fourth-quarter revenue of between $27 billion and $28 billion, above analyst forecasts of $26.23 billion.

Dell’s diverse portfolio of software and hardware revenue streams has given the company a boost as it seeks to tap high-growth markets such as edge computing, cloud, and telecommunications – sectors that gained traction during the pandemic.

Revenue from Dell’s customer solutions business, which makes its hardware devices, rose 35% in the quarter due to robust demand from companies upgrading their computer systems to meet the challenges of remote work.

The tech giant’s revenue from infrastructure solutions and its data center business rose 5% to $8.4 billion in the quarter.

Total revenue rose 21% to $28.39 billion, while analysts had expected $26.82 billion.

Dell’s net income for the third quarter ended October 29 rose 400% to $3.89 billion, or $4.87 per share, from $881 million, or $1.08 per share, a year earlier.

Meanwhile, Dell’s newly spun-off cloud computing unit, VMware, reported a 10% increase in revenue in the same quarter.

For more information, read the original story in Reuters.



Related articles

Google former employees demand public commitments from CEO

Google is facing criticism as laid-off employees' band together to demand public commitments from Alphabet CEO Sundar Pichai. Over...

Amazon to layoff 9,000 employees

Amazon announced that it will lay off an additional 9,000 employees. Amazon CEO Andy Jassy also confirmed that...

Reddit relocates headquarters

Reddit's headquarters is being relocated from its current 78,000-square-foot office at 1455 Market Street at San Francisco's Mid-Market...

Meta launches Meta Verified in U.S.

Meta has launched its subscription service in the United States, allowing Facebook and Instagram users to pay for...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways