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Dell’s results contrast with a weaker-than-expected performance by HP Inc., the company’s primary competitor in the PC market.
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Dell Technologies
posted better-than-expected financial results, beating expectations for both its PC and enterprise infrastructure businesses.
The strong results from
Dell
(ticker: DELL) add to a stream of upbeat technology sector earnings reports this week, including better-than-expected results from
Salesforce.com
(CRM),
Okta
(OKTA),
CrowdStrike
(CRWD),
Ciena
(CIEN), and Hewlett Packard Enterprise (HPE). The results are in contrast to a weaker-than-expected financial performance by
HP
Inc.
(HPQ), Dell’s main rival in the PC market.
Dell shares were up 5.5% at $59.37 in late trading.
For the fiscal second quarter ended Aug. 4, Dell posted revenue of $22.9 billion, down 13% from a year ago, but up 10% sequentially, and $2 billon above the Street consensus forecast at $20.9 billion. The company’s forecast had called for revenue of $20.2 billion to $21.2 billion.
Dell earned $1.74 a share on an adjusted basis in the quarter, powering past both its own forecast for $1.10 and the Wall Street consensus call of $1.14. Under generally accepted accounting principles, the company earned 63 cents a share.
Cash flow from operations was $3.2 billion, while Street estimates had called for a…
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