Dell’s revenue topped estimates in its first report after going public again

Dell’s revenue topped estimates in its first report after going public again

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Dell Technologies Inc, in its first earning report after its return to the public market, on Thursday came up posting quarterly revenue above of the Street estimates.

The PC maker also forecasted annual revenue that also came above estimates, as demand for its network devices and servers has been growing.

Dell is recognized as one of the major players in the PC market and left the Wall Street in 2013 after a buyout by its founder Mr Dell for $24 billion taking it as a private company but the company one again become a listed company on Dec 28 last year when it bought back interest in VMware which were attached to the performance of the software maker.

Revenue in its Client Solutions Group, which houses it’s desktop PCs, tablets and notebooks, as well as branded peripherals business, rose 4 percent to $10.9 billion.

Infrastructure Solutions Group segment revenue rose 10 percent to $9.9 billion. The unit holds its network devices and servers business, which generated revenue of $5.3 billion after rising by 14 percent.

Dell posted revenue of $24 billion which topped the estimates of $23.83 billion but excludes the effects of purchase of $167 million which has not been accounted for.

Dell’s net loss attributable to company for the fourth quarter ended Feb. 1 raised three fold to $299 million.

Company’s operating expense also jumped by 13.7 percent to $6.78 billion in the reported quarter.

Separately, Dell unit VMware Inc also remained successful to beat analysts by posting higher than expected revenue and profit figures during the fourth quarter, largely because of surging demands for its software being used to bolster the efficiency of cloud computing.

For the full-year 2020, Dell, excluding some items, has been expecting revenue of between $93 billion and $96 billion against analysts’ estimate of $94.11 billion, according to IBES data from Refinitiv.

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