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Dell forecasts upbeat revenue on strong PC demand

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Nov 23 (Reuters) – Laptop maker Dell Technologies Inc (DELL.N) on Tuesday forecast current-quarter revenue above estimates, highlighting strong demand for its private computer systems and servers from corporations shifting towards a hybrid work mannequin.

The firm mentioned it was anticipating fourth-quarter revenue from persevering with operations within the vary of $27 billion to $28 billion, above analyst estimates of $26.23 billion, in response to Refinitv IBES.

Revenue at Dell’s shopper options enterprise, house to its {hardware} gadgets, rose 35% within the quarter on booming demand from corporations upgrading their pc programs to satisfy work-from-home challenges.

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Dell advantages from having a various portfolio of software program and {hardware} revenue streams, and it’s now making an attempt to faucet into high-growth markets, reminiscent of edge computing, cloud and telecoms, which have gained traction because the pandemic started.

Revenue from its infrastructure options group, which incorporates the info middle enterprise, was up 5% at $8.4 billion within the quarter.

Total revenue jumped 21% to $28.39 billion, in contrast with analysts’ common estimate of $26.82 billion, in response to Refinitiv knowledge.

The firm’s web earnings surged greater than four-fold to $3.89 billion, or $4.87 per share, within the third quarter ended Oct. 29, from $881 million, or $1.08 per share, a yr earlier.

Meanwhile, rival PC-maker HP Inc (HPQ.N) additionally reported a quarterly revenue that greater than quadrupled to $3.09 billion, and mentioned its private programs unit posted a 13% rise in revenue.

Dell’s freshly spun off cloud computing unit, VMware, posted a ten% rise in revenue throughout the quarter.

VMWare accomplished its spinoff from Dell, which owned 81% of the software program agency, to change into a separate publicly traded firm on Nov. 1. learn extra

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Reporting by Eva Mathews and Nilanjana Basu in Bengaluru; Editing by Amy Caren Daniel and Anil D’Silva

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