: Dell Technologies Inc 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 US$9.9 billion. Servers and networking revenue rose 14 percent to US$5.3 billion. Its expectations for annual adjusted earnings per share between US$6.05 and US$6.70 falls below Street estimates of US$6.81.Dell Chief Financial Officer Tom Sweet referenced the dynamic macroeconomic environment in an interview to Reuters and said,"I don't think full-year 2020 will be quite as strong from a year-over-year revenue growth perspective, but I do think that we will continue to improve profitability over the course of the year.
For the fourth quarter ended Feb. 1, net loss attributable to Dell jumped nearly three-fold to US$299 million. Operating expenses surged 13.7 percent to US$6.78 billion.