Categories Earnings, Technology

Dell Technologies (DELL) misses Q4 2020 earnings view

Dell Technologies (NYSE: DELL) reported fourth quarter 2020 adjusted earnings of $2.00 per share. The company reported GAAP revenue of $24 billion and non-GAAP revenue of $24.1 billion. The market had expected Dell to post earnings of $2.02 per share on revenue of $24 billion. DELL stock dropped about 5% during the extended-trading hours.

DELL stock tumbled to a new 52-week low ($42.90) in today’s regular trading session as the tech giant Microsoft (NASDAQ: MSFT) sent a caution to the Wall Street that its PC business might not meet the guidance due to the impact of coronavirus outbreak.

Dell Technologies (DELL) misses Q4 2020 earnings view

On a GAAP basis, the company’s net income stood at $416 million or $0.54 per share for the quarter ended January 31, 2020. This compares to a loss of $287 million for the fourth quarter ended February 1, 2019.

Client Solutions Group revenue grew 8% year-over-year to $11.8 billion in the recently ended quarter. Dell shipped a record 46.5 million units during the 2019 calendar year. Infrastructure Solutions Group revenue decreased 11% to $8.8 billion.

Dell Technologies also announced a new share repurchase program of up to $1 billion over the next 24 months, effective immediately.

Also Read: Trade Desk (TTD) tops Q4 2019 earnings and revenue targets; guides above view

On February 18, Dell sold its RSA security business to private equity firm Symphony Technology Group for $2.075 billion. This transaction is expected to close in the next six to nine months. 

Dell’s subsidiary VMware (NYSE: VMW) also reported its Q4 results today. VMware posted adjusted earnings of $2.05 per share on revenue of $3.07 billion. VMW stock was down about 5% in the extended trading hours.

Shares of Dell have retreated 18% in the last five trading days and 9% in the past 30 days.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

MU Earnings: Micron’s Q4 profit declines but beats estimates

Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted

What are Philip Morris’ (PM) anticipations for the near term?

Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,

Key highlights from CarMax (KMX) Q2 2023 earnings results

CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top