Dell Technologies satisfies revenue targets on strong servers, storage sales

The company said its fourth adjusted quarter revenue was up 9 percent to $23.84 billion
Written by Natalie Gagliordi, Contributor

Dell Technologies said its fourth adjusted quarter revenue was up 9 percent to $23.84 billion as it saw strength in servers, storage and networking sales. Wall Street was expecting revenue of $23.46 billion. Dell didn't give out EPS results for the quarter.

Elsewhere on the balance sheet, the company reported non-GAAP operating income in the fourth quarter of $2.6 billion. GAAP operating loss was $287 million and net revenue was $24 billion.

Dell said its infrastructure group had revenue of $9.9 billon, up 10 percent. Storage sales were up 7 percent and networking and servers saw revenue increase 14 percent. Operating income was $331 million.

The client solutions group delivered revenue of $10.9 billion, up 4 percent compared to a year ago. Consumer revenue was down 6 percent and commercial sales were up 9 percent.

"I am pleased with our strong fourth quarter and fiscal 2019 velocity and financial performance, including double-digit revenue growth for the year across all three business units and profitable share gains across our portfolio," said Tom Sweet, chief financial officer for Dell Technologies. "In fiscal 2020 we'll continue to run the business in a disciplined way. We will remain focused on generating long-term relative growth, share gain and cash flow while driving long-term value for shareholders and serving our customers' full range of needs."

As for the full 2019 results, Dell said its total revenue came to $90.6 billion, up 15 percent. The company's operating was $191 million and its net loss amounted to $2.1 billion.

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