Matthew
Busch
|
Bloomberg
|
Getty
Images
Shares
of
Dell
Technologies
popped
more
than
15%
during
extended
trading
Thursday
after
the
company
released
fourth-quarter
results
that
beat
analysts’
estimates
and
showed
strong
demand
for
its
artificial
intelligence
servers.
Here’s
how
the
company
did:
-
Earnings
per
share:
$2.20
adjusted
vs.
$1.73
expected
by
LSEG,
formerly
known
as
Refinitiv -
Revenue:
$22.32
billion
vs.
$22.16
billion
expected
by
LSEG
Dell’s
revenue
for
the
fiscal
2024
fourth
quarter
fell
11%
from
$25.04
billion
in
the
year-ago
quarter.
The
company
reported
net
income
$1.16
billion,
up
89%
from
the
$614
million
it
posted
in
the
same
period
last
year.
Chief
Financial
Officer
Yvonne
McGill
said
in
a
release
that
the
company
is
increasing
its
annual
dividend
by
20%
to
$1.78
per
share,
which
she
called
a
“testament
to
our
confidence
in
the
business.”
Dell’s
Infrastructure
Solutions
Group
(ISG)
reported
$9.3
billion
in
revenue
for
the
quarter,
down
6%
year
over
year
but
up
10%
from
the
third
quarter.
Servers
and
networking
revenue
made
up
the
bulk
of
that,
with
$4.9
billion
in
revenue
driven
by
“AI-optimized
servers.”
Storage
revenue
came
in
at
$4.5
billion.
The
company’s
Client
Solutions
Group
(CSG)
reported
$11.7
billion
for
the
quarter,
down
12%
year
over
year.
That
includes
$9.6
billion
in
commercial
client
revenue,
which
fell
11%
since
the
fourth
quarter
of
last
year,
and
$2.2
billion
in
consumer
revenue,
down
19%
year
over
year.
“Our
strong
AI-optimized
server
momentum
continues,
with
orders
increasing
nearly
40%
sequentially
and
backlog
nearly
doubling,
exiting
our
fiscal
year
at
$2.9
billion,”
Chief
Operating
Officer
Jeff
Clarke
said
in
the
release.
For
its
first
quarter,
Dell
said
during
its
quarterly
call
with
investors
that
it
expects
to
report
revenue
between
$21
billion
and
$22
billion.
The
company
said
it
is
encouraged
by
momentum
around
AI,
and
that
it
expects
to
return
to
growth
for
fiscal
2025.
However,
the
company
noted
that
the
macroeconomic
environment
is
causing
some
customers
to
be
cautious
about
infrastructure
costs.
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