Dell Technologies Inc. DELL shares are trading higher in Thursday's after-hours session following the company's third-quarter earnings release. Here's a summary of the report.
What To Know: Dell reported quarterly earnings of $1.88 per share, topping the analyst consensus estimate of $1.47, an 18.26% decrease over earnings of $2.30 per share from last year.
Revenue of $22.25 billion missed the analyst consensus estimate of $23.00 billion, a 9.99% decrease over sales of $24.72 billion in the same period last year.
Among the revenue metrics, Dell's Infrastructure Solutions Group posted third quarter revenue of $8.5 billion. While the figure was flat sequentially and down 12% year-over-year, servers and networking revenue of $4.7 billion boasted 9% sequential growth, fueled by AI-optimized servers.
Dell reported cash flow from operations of $2.2 billion for the quarter, attributed to profitability and excellent working capital performance, and $9.9 billion over the last 12 months.
"We have proven our ability to generate strong cash flow through profitability and working capital efficiency, including $9.9 billion of cash flow from operations over the last twelve months," said Yvonne McGill, CFO, Dell Technologies. "Our long-term financial framework and capital allocation plan continue to deliver results, with $1 billion returned to shareholders in the third quarter through share repurchases and dividends."
Shares of Dell Technologies initially fell considerably after-hours but soon recovered.
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DELL Price Action: Shares of DELL were up 0.78% at $76.51 in the after-hours session at the time of publication, according to Benzinga Pro.
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