Dell Technologies Inc. (NYSE: DVMT) released its fiscal second-quarter financial results before the markets opened on Thursday. The company said that it had $1.58 in earnings per share (EPS) and $23.1 billion in revenue, which compares with consensus estimates of $1.49 in EPS and revenue of $21.5 billion. The same period of last year reportedly had EPS of $1.00 on $19.86 billion in revenue.
Overall, the company delivered a strong quarter with double-digit revenue growth across all of its segments — not to mention this growth looks to be continuing through the full year.
In terms of its segments, the company reported:
- Infrastructure Solutions Group revenue for the second quarter was a record $9.2 billion, a 24% increase. This was driven by revenue of $4.2 billion in storage, a 13% increase, and revenue of $5.1 billion in servers and networking, a 34% increase.
- Client Solutions Group revenue for the second quarter was $11.1 billion, up 13%, with double-digit growth across both Commercial and Consumer.
- VMware revenue for the second quarter was $2.2 billion, up 11%, with operating income of $736 million and 33.5% of revenue.
Looking ahead to the fiscal full year, the company expects to see revenue between $90.5 billion and $92.0 billion and net income of $4.9 billion to $5.3 billion. The consensus estimates call for $6.02 in EPS and $87.61 billion in revenue.
Michael Dell, board chair and chief executive of Dell, commented:
We are in the early stages of a global, technology-led investment cycle in which every company is becoming a technology company. As our results indicate, Dell Technologies is perfectly positioned to grow, gain share, drive innovation and be our customers’ best, most trusted partner on the journey to their digital future.
Shares of Dell were last seen up less than 1% at $96.43, with a consensus analyst price target of $105.50 and a 52-week trading range of $64.96 to $97.10.
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