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Dell beats revenue estimates in first report as public company

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Dell Technologies topped Street estimates for quarterly revenue in the computer maker's first earnings report since a return to public markets.

Dell Technologies topped Street estimates for quarterly revenue on Thursday in the computer maker's first earnings report since a return to public markets and also forecast annual revenue above estimates, lifted by demand for its servers and network devices.

Revenue in its Infrastructure Solutions Group, which houses its servers and network device business, rose 10 percent to $9.9 billion. Servers and networking revenue rose 14 percent to $5.3 billion. Excluding some items, Dell expects full-year 2020 revenue between $93 billion and $96 billion, mostly above analysts' estimate of $94.11 billion, according to IBES data from Refinitiv.

Excluding impact of purchase accounting of $167 million, the company posted total revenue of $24 billion, above estimates of $23.83 billion.

 

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