Dell Stock Surges After Earnings Blow Past Forecasts. Demand Is on the Mend.

📆 31/08/2023 20:32:00
📰 MarketWatch

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Revenue in the latest quarter was $2 billion higher than the $20.9 billion consensus forecast among analysts on Wall Street.

Dell Technologies posted better-than-expected financial results, beating expectations for both its PC and enterprise infrastructure businesses.

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. The Client Solutions Group, the Dell PC business, had revenue in the quarter of $12.9 billion, down 16% from a year ago, but up 8% sequentially and well above the Street consensus of $12.1 billion. Both consumer and commercial PC revenues were above Street estimates.

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