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Dell Technology Group's Q3 revenue in fiscal 2024 was $22.3 billion, with deferred revenue up 7% from the same period last year.

2024-04-23 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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Shulou(Shulou.com)12/24 Report--

CTOnews.com December 1 news, this morning, Dell Technology Group announced the third quarter of fiscal 2024 results.

Dell's third-quarter revenue of $22.3 billion (CTOnews.com Note: currently about 159.222 billion yuan) was lower than the expected $23 billion, according to the financial report. For the quarter, Dell's operating profit was $1.5 billion (currently about 10.71 billion yuan), while non-GAAP 's operating profit was $2 billion.

Touyuan Pexels Dell said its shares fell about 4 per cent in after-hours trading because of a slower-than-expected recovery in the hardware and software markets and lower-than-expected revenue in the third quarter.

Due to the increase in software and hardware maintenance agreements, Dell Technology Group's remaining performance value at the end of the quarter was $39 billion, recurrent revenue was $5.6 billion, up 4 per cent from a year earlier, and total deferred revenue was $29.1 billion, up 7 per cent from a year earlier. The company has a cash and investment balance of $9.9 billion.

Dell's customer solutions division (which includes consumer and corporate PCs) had revenue of $12.28 billion (currently about 87.679 billion yuan) in the third quarter, down nearly 11 percent from a year earlier, while infrastructure solutions group (ISG) earned $8.5 billion (currently about 60.69 billion yuan) in the third quarter, according to the financial report.

In addition, Dell's commercial customer business revenue is $9.8 billion (currently about 69.972 billion yuan), consumer business revenue is $2.4 billion (currently about 17.136 billion yuan), and operating profit is $925 million (currently about 6.605 billion yuan).

Analysts point out that Dell is not the only PC supplier facing challenges, but because of the weakness of the commercial PC market, Dell is more affected than its competitors, so this is the company's core market.

Dell's server and network revenue rose 9% from the second quarter due to customer interest in generative artificial intelligence, said Jeff Clark, Dell's chief operating officer.

Revenue from Dell's server and network businesses is reported to be $4.7 billion. Revenue from the storage business is $3.8 billion, with strong demand for unstructured data solutions and data protection. Operating profit is $1.1 billion.

Dell raised its full-year earnings per share forecast to $6.63, or 10 cents, compared with a previous forecast of $6.30, or 20 cents.

According to Canalys, a research firm, the PC market is expected to benefit from demand for artificial intelligence. The adoption of PC with artificial intelligence capabilities is expected to accelerate from 2025, accounting for about 60 per cent of all PC shipments by 2027.

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