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Dell Technologies Inc beat Wall Street estimates for holiday-quarter revenue on Thursday, helped by demand for its desktops and notebooks as most offices continued to work remotely during the COVID-19 health crisis.
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Revenue from its client solutions group, which includes desktop PCs, notebooks and tablets, was $13.8 billion, up 17% from a year earlier. The company said it had shipped a record 50.3 million units during 2020.
A global shift to remote work and learning early last year had spiked demand for remote workstation products that benefited computer hardware makers and cloud service providers alike.
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Dell is in an advantaged position to capitalize on the projected mid-single digits growth in IT spending in 2021, Chief Operating Officer Jeff Clarke said.
Revenue from its data center business was $8.8 billion in the quarter, in line with a year earlier, while sales at VMware Inc was $3.3 billion. Dell plans to spin off its 81% stake in the software unit to help reduce debt.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DELL | DELL TECHNOLOGIES | 79.68 | -2.01 | -2.46% |
Total revenue rose 9% to $26.1 billion in the three months ended Jan. 29, while analysts had estimated $24.5 billion, according to IBES data from Refinitiv.
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Net income attributable to the company rose to $1.2 billion from $408 million a year earlier, as it shaved off administrative costs by 19% in the quarter.
(Reporting by Ayanti Bera in Bengaluru; Editing by Maju Samuel)
