Dell Technologies (NYSE: DELL) will be publishing its second quarter fiscal 2020 earnings results on Thursday, August 29, 2019, after the market close. After opening at $46 on December 28, 2018, the date in which Dell returned back as a public company, its share value has dropped below the $46 mark second time in this year. Dell stock, which traded below that $46 mark in January 2019, closed down 1.75% at $45.60 when the market closed today.
Check the live earnings update: Dell Technologies stock jumps after topping Q2 2020 estimates
During the first quarter of 2020, Dell’s GAAP revenue grew 3% year-over-year to $21.9 billion and non-GAAP revenue grew 2% to $22 billion. GAAP net income was $329 million or $0.38 per share and non-GAAP net income was $1.2 billion or $1.45 per share in the first quarter 2020. Infrastructure Solutions Group revenue decreased 5%, while Client Solutions Group revenue increased by 6%.
Last Thursday, VMware (NYSE: VMW) in which Dell owns approximately 81% stake, reported its second quarter 2020 results. While earnings and revenue beat market’s estimates, VMware stock plunged as it announced that it will be totally paying $4.8 billion to acquire both Pivotal Software (NYSE: PVTL) and Carbon Black. Since Thursday, VMware stock had dropped 12% and Dell stock slipped 7%.
Challenging macroeconomic and IT spending environment, as well as ongoing trade discussions between the US and China remains to be headwinds for the Round Rock, Texas-based technology firm.
According to Gartner, Dell recorded its sixth consecutive quarter of PC shipment growth in the second quarter of 2019. Dell’s PC shipments increased 2.1% with a market share of 16.9% in 2Q19. According to IDC, Dell Technologies maintained the third position with healthy 3.1% growth during the second quarter.
When Dell announced its Q4 2018 results, it had projected FY20 non-GAAP revenue to be between $93 billion and $96 billion and non-GAAP EPS attributable to Dell Technologies common stock to be between $6.05 and $6.70. When reporting Q1 2020 results, Dell stated that it is trending toward the midpoint of the GAAP and non-GAAP revenue ranges for FY20 and non-GAAP EPS outlook to be better the high end of the range.
Video game retailer GameStop Corp. (NYSE: GME), which has become the talk of the town after the unprecedented stock rally in recent weeks, reported a narrower loss for the first
The steel industry managed to shrug off the pandemic blues earlier than expected as the recovery in industrial activity pushed up demand. With the vaccination drive and the government’s aggressive
Campbell Soup Company (NYSE: CPB) reported third-quarter 2021 earnings results today. Net sales decreased 11% year-over-year to $1.98 billion, as a result of lapping the demand surge at the onset