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Dell beats revenue estimates on buoyant demand for desktops, notebooks

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.

Updated on: Aug 21 2022, 15:16 IST
Dell reports sales surge (HT Tech)

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.

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.

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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.

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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.

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.

ALSO READ: HP sales beat estimates on work-at-home PC demand

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.

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First Published Date: 26 Feb, 07:30 IST