When Dell Technologies Inc. (NYSE: DELL) released its most recent earnings report after the markets closed on Thursday, the tech giant said that it had $2.15 in earnings per share (EPS) and $23.45 billion in revenue. That compared with consensus estimates of $1.50 in EPS and $23.3 billion in revenue, as well as the $1.81 per share and $23.1 billion posted in the fiscal second quarter of last year.
For the second quarter, Infrastructure Solutions Group revenue decreased 7% year over year to $8.6 billion. Storage revenue was flat at $4.2 billion, while servers and networking decreased 12% to $4.4 billion. Operating income for the segment was $1.1 billion.
Client Solutions Group revenue increased 6% to $11.7 billion. Commercial revenue grew 12% to $9.1 billion, and Consumer revenue decreased 12% to $2.7 billion. Operating income was $982 million.
VMware revenue grew 12% to $2.5 billion, driven by broad-based strength across a diverse product portfolio. Operating income for the second quarter was $762 million.
The company did not offer any guidance in the filing. However, the consensus forecast is $1.44 in EPS and $23.06 billion in revenue for the fiscal third quarter.
Vice Chair Jeff Clarke commented:
We are in the early stages of a technology-led investment cycle. IT spending remains healthy and our business drivers remain strong. We are innovating and integrating across the Dell Technologies portfolio, from the edge to the core to the cloud, with a diverse business designed to succeed in any macro environment. For example, core Dell orders were up four percent in the quarter excluding China.
Shares of Dell traded up roughly 9% on Friday to $51.40, in a 52-week range of $41.58 to $70.55. The consensus price target is $64.91.
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