Home Share Market Dell shares surge as results top Wall Street's expectations

Dell shares surge as results top Wall Street’s expectations


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Dell Technologies (NYSE:DELL) shares rose as much as 8% in after-hours trading Monday as the computer-technology giant reported third-quarter results that topped Wall Street analysts forecasts.

Dell (DELL) said that for the period ending October 28, it earned. $2,30 a share, excluding one-time items, on revenue of $24.7B in revenue. Analysts had forecast Dell (DELL) to earn $1.61 a share, on revenue of $24.6B. During the same period a year ago, Dell (DELL) earned $1.66 a share, on $26.4B in revenue.

Jeff Clarke, Dell’s (DELL) co-chief operating officer, summed up the company’s performance by saying, “We played our hand [in the third quarter] exceptionally well.”

For its two major business groups, Dell (DELL) said its infrastructure solutions group [ISG] reported revenue of $9.6B, up 12% from a year ago. The group included servers, storage and networking gear and other technologies typically used by businesses and enterprise customers.

Dell’s (DELL) client solutions group [CSG] which includes desktop and laptop PCs, as well as monitors and other PC-related gear, turned in sales of $13.8B, which fell by 17% from the year-ago period. The group’s two divisions illustrated what has been called a rough market for PCs as commercial revenue fell 13% from a year ago to $10.7B and consumer revenue dropped by 29%, to $3B.

Last week, Dell’s (DELL) share took a hit when the company reached a $1B settlement to a class action suit stemming from its return to being a publicly traded company.



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