March 2, 2023 – Dell Technologies (NYSE:DELL) Delivers Fourth Quarter and Full Year Fiscal 2023 Financial Results。
Dell Technologies (NYSE:DELL) reported fiscal Q4 2023 non-GAAP earnings of $1.80 per diluted share, Analysts polled by Capital IQ expected $1.64.
Revenue for the quarter ended Feb. 3 was $25.04 billion, Analysts polled by Capital IQ expected $23.51 billion.
Dell ended the quarter with remaining performance obligations of $40 billion, deferred revenue of $30.3 billion and recurring revenue of approximately $5.6 billion, up 12% year-over-year. Cash and investments were $10.2 billion, and $3.8 billion was returned to shareholders in fiscal year 2023 through share repurchases and dividends. The company will increase its annual cash dividend by 12% to $1.48 per common share, with $0.37 per common share for the first quarterly distribution payable on May 5 to shareholders of record as of April 25.
business outlook
Sweet saids Revenue for the full fiscal year 2024 will decline by 12% to 18%. At the midpoint point, the decline was not as severe as the 17% that analysts expected. Adjusted earnings per share were about $5.30, below analysts’ average expectations of $6.29.
Fourth Quarter and Full Year Fiscal 2023 Financial Results
Operating segments summary
Infrastructure Solutions Group delivered record revenue of $38.4 billion for the full year, up 12% versus the prior year, and record operating income of $5 billion, up 35% versus the prior year. Fourth quarter revenue was $9.9 billion, up 7% year-over-year and its eighth consecutive quarter of year-over-year growth. Servers and networking revenue for the fourth quarter was $4.9 billion, up 5%. Storage revenue was a record $5 billion, up 10%. Operating income was a record $1.5 billion, up 40% and approximately 15.6% of Infrastructure Solutions Group revenue.
Client Solutions Group delivered revenue of $58.2 billion for the full year, down 5% versus the prior year, and operating income of $3.8 billion, down 12% versus the prior year. Fourth quarter revenue was $13.4 billion, down 23% year-over-year. Commercial revenue for the fourth quarter was $10.7 billion, down 17%, and Consumer revenue was $2.7 billion, down 40%. Operating income was $671 million, down 42% and approximately 5% of Client Solutions Group revenue.
DELL TECHNOLOGIES INC. Consolidated Statements of Income and Related Financial Highlights
About Dell Technologies
Dell Technologies (NYSE:DELL) helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry’s broadest and most innovative technology and services portfolio for the data era.