At the end of the year Dells revenue increased 1

At the end of the year, Dell’s revenue increased 1 percent to a record $102.3 billion

Analysts did not expect good news from the quarterly and annual reports of Dell Technologies and focused on the not very successful reporting of the main competitor HP Inc. At the same time, Dell’s financial data turned out to be better than market expectations, but led to a gloomy forecast for the next quarter to a fall in the company’s share price after the close of trading. Dell ended the fiscal year with record sales of $102.3 billion.

    Image source: Dell Technologies

Image source: Dell Technologies

In the fourth quarter of fiscal 2023, which is already closing on Dell’s calendar, the company made $25 billion, down 11% from the same quarter’s results in the previous reporting period. Operating profit reached $1.2 billion, accounting for 4.7% of sales and down 26%. Net income reached $606 million, while the quarter ended a year earlier with a net loss of $29 million.

Dell ended the full fiscal year with record sales of $102.3 billion, up 1 percent from the prior year. Operating profit for the year rose 24% to $5.8 billion, also hitting a record high. Going toward infrastructure solutions, which include server hardware and data storage systems, Dell added $9.9 billion (+7%) in the past quarter. Directly in the server and network business, revenue rose 5% to $4.9 billion, while the storage systems segment saw a 10% increase to $5 billion. year for eight consecutive quarters. The division’s annual revenue was a record $38.4 billion, up 12%, while operating income rose 35% to $5 billion.

For the full year, the Customer Solutions division had revenue of $58.2 billion, down 5% from the prior year, and its operating income declined 12% to $3.8 billion. Fourth quarter revenue was down Sales down 23% to $13.4 billion Sales down 17% to $10.7 billion, consumer business down 40% to $2.7 billion Division operating income down 42% to 671 million dollars back.

Dell isn’t shy about providing guidance for the full current fiscal year, expecting revenue to fall by 12% and 18%, respectively, a range that’s on average below analyst forecasts. In the current quarter, the company expects sales to decline steadily by 17-21%. In the segment of infrastructure solutions, revenue will constantly decrease by 24-26%, in the client segment – by 14-16%. However, Dell management expects the PC market decline to last no more than four or six months and 62 million laptops sold in the first nine months of 2020 will soon require an upgrade. The company’s shares fell 3% after the close after rising 7% during the trading session. Dell CFO Tom Sweet will step down mid-year.


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