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Dell Technologies Shares Soar On Big Q2 Earnings Beat

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Dell Technologies Shares Soar On Big Q2 Earnings Beat

Dell Technologies Inc (NYSE: DELL) shares were trading higher Thursday after the company reported a second-quarter earnings beat.

Adjusted earnings came in at $2.15, beating estimates by 69 cents. Sales came in at $23.4 billion, beating estimates by $110 million.

"We are in the early stages of a technology-led investment cycle. IT spending remains healthy and our business drivers remain strong," Jeff Clarke, Dell's vice chairman, said in a statement. 

"We are innovating and integrating across the Dell Technologies portfolio, from the edge to the core to the cloud, with a diverse business designed to succeed in any macro environment. For example, core Dell orders were up 4% in the quarter excluding China."

Dell Technologies shares were up 7.44% at $50.25 at the time of publication Thursday in after-hours trading.

Q2 Highlights

  • VMware revenue up 12%.
  • Record cash flow from operations of $3.3 billion.
  • Revenue up 2%.

Posted-In: Jeff ClarkeEarnings News After-Hours Center Best of Benzinga

 

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