Dell Technologies posts record $28.4 bn sales in Q3

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Dell Technologies posts record $28.4 bn sales in Q3
Dell Technologies posts record $28.4 bn sales in Q3

San Francisco, Nov 24 | Dell Technologies has announced a record third quarter (Q3) results, generating revenue of $28.4 billion (up 21 percent) with a net income of $3.9 billion, driven by growth across commercial PCs, servers and storage verticals.

The company achieved the highest year-over-year PC share gain for its third quarter, with shipments up 26.6 percent and global PC share up to 17.4 percent.

VMware revenue was $3.2 billion for the third quarter, up 10 percent driven by broad-based strength across a diverse product portfolio, the company said late on Tuesday.

Earlier this month, Dell completed the planned spin-off of VMware via tax-free distribution of shares to Dell investors.

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“We continue to deliver strong results, with more than $13 billion in cash flow from operations on a trailing-twelve-month basis,” said Tom Sweet, chief financial officer, Dell Technologies.

“The digital trends are tailwinds for our business, and along with our strategy and financial flexibility, lead us to be optimistic about our long-term growth prospects,” Sweet added.

Dell’s client solutions group revenue was $16.5 billion in the third quarter, up 35 percent from a year ago.

In a conference call with analysts, Jeffrey Clarke, vice chairman of Dell Technologies, said that in client vertical, “we are pairing Windows 11 with our Dell Optimiser built-in intelligence to deliver the most personalised productive computing experience on the world’s most intelligent business PCs. We believe the introduction of Windows 11 will continue to drive demand in PCs”.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered sharply on the last trading day amid the weekend after a continuous fall. Market has managed to halt above 16000 Nifty levels after continuous losing streak. Index reacted violently, grasping Indian as well as global factors throughout the week. Simultaneously, Inflation is catching up and profit margins are taking a hit.

 

Sensex advanced 1532 points or 2.90 percent while Nifty gained 484 points or 3.07 percent in a week. Simultaneously, Bank nifty has overcome bear’s dominance ending the session with 3.49 percent gain. Sectorally,Nifty Metal saw the highest gains of 7.40 percent followed by the Realty and Auto added over 4% gain. On the flip side Nifty IT tumbled 2.82 percent on weekly basis. Midcap and Small Cap measures rising nearly 2 percent as well.

In Nifty stock, EICHERMOT gained 11.31% while TECHM lost 5.98% on a weekly basis. INDIA VIX closes at 23.10 suggests volatility driven market is going to remain intact. Coming to the OI Data, on the call side highest OI witnessed at 17000 Nifty followed by 16800 Nifty strike price while on the put side, the highest OI was at 16000 Nifty followed by 15800 Nifty strike price. Technically, Nifty has formed a Tweezer Bottom type pattern in the weekly chart suggesting a short term buying rally may drive the market until monthly expiry. On the daily chart, price has rebounded from the lower Bollinger band as well.

Momentum indicators MACD & Stochastic were trading with a positive crossover & reversed from oversold zone. However, Index is still struggling to get the support of 50 Simple Moving Average in daily chart. Short term investors and traders are advised to work with option strategies to neutralize the volatility. Overall, Nifty is having support at 15700 mark while on the upside 16700 followed by 16500 may act as an immediate resistance. While Bank nifty has support around 32500 while resistance is placed at 36000 on weekly chart.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

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