November 24, 2021
Laptop maker Dell Technologies Inc announced buoyant revenue forecasts for the current quarter, pointing to robust demand for its personal computers and servers from companies that are switching to a hybrid working model.
The tech giant said it expects fourth-quarter revenue of between $27 billion and $28 billion, above analyst forecasts of $26.23 billion.
Dell’s diverse portfolio of software and hardware revenue streams has given the company a boost as it seeks to tap high-growth markets such as edge computing, cloud, and telecommunications – sectors that gained traction during the pandemic.
Revenue from Dell’s customer solutions business, which makes its hardware devices, rose 35% in the quarter due to robust demand from companies upgrading their computer systems to meet the challenges of remote work.
The tech giant’s revenue from infrastructure solutions and its data center business rose 5% to $8.4 billion in the quarter.
Total revenue rose 21% to $28.39 billion, while analysts had expected $26.82 billion.
Dell’s net income for the third quarter ended October 29 rose 400% to $3.89 billion, or $4.87 per share, from $881 million, or $1.08 per share, a year earlier.
Meanwhile, Dell’s newly spun-off cloud computing unit, VMware, reported a 10% increase in revenue in the same quarter.
For more information, read the original story in Reuters.
