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Dell revenue jumps on robust PC demand -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A man looks at the Dell laptop in Manhattan in New York City on November 24, 2021. REUTERS/Andrew Kelly/File photo

(Reuters) – Dell Technologies (NYSE 🙂 Inc surpassed the market’s estimates for fourth quarter revenue Thursday due to the global adoption of hybrid work methods that kept the demand for notebooks and personal computers strong.

According to data from Refinitiv IBES, revenue jumped 16% to $27.99 Billion in the fourth quarter. This compares to analysts’ average estimate at $27.44B.

Thanks to remote learning and the growth of remote work, the company’s revenue has risen eight consecutive quarters.

Revenue jumped by 25% in the period Jan. 28-28 at Dell’s customer solutions group. This business includes tablet PCs as well as notebooks and desktops.

The company’s infrastructure solutions unit saw a 3% increase in revenue. This is where it stores its storage, networking, and servers.

Dell’s net income attributable to the quarter fell to $2,000,000, from $1.23 Billion a year ago.

The Texas-based firm earned $1.72 per shared, excluding any other items.

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