News

Dell beats earnings estimates on higher desktop sales, shares surge

FILE PHOTO: The logo of the Dell Technologies, Inc. it is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, New York, USA, on 10 January 2019 at the latest. REUTERS/Brendan McDermid

(Reuters) – Dell Technologies, Inc. (“DELL technical support.(N) beat Wall Street profit estimates on Thursday, boosted by higher demand for cloud services, and personal computers, sending its shares up 6 percent in extended trading.

The PC maker returned to the stock market after an absence of six years, in December of last year, after it bought a stake in software maker VMware (VMW.(N), and in the current possession of one of the 81% of the outstanding shares.

This may be Dell’s back up to the rigours of an initial public offering after it received the support of the shareholders, including Carl Icahn.

Dell reported a 6% jump in revenue in its client solutions business, which makes desktop pcs, laptops and tablets, and peripheral devices. Revenue rose to $11.75 billion from $11.13 billion.

Dell posted net income of $4.51 billion in the second quarter, which ended Aug. 2, as compared to a net loss of $461 million for the prior year.

With the exception of the items, the company earned $2.15 per share, which is higher than the average analyst estimate of $1.47 cents per share.

Total revenues increased 2% to $23.37 billion.

Reporting by Neha Malara in Bengaluru; Editing by Maju Samuel and Mark Kuber

Follow us

Don't be shy, get in touch. We love meeting interesting people and making new friends.

Most popular