DELL TECHNOLOGIES Reports Strong Earnings Results for FY2024 Q2
October 21, 2023
☀️Earnings Overview
On August 31 2023, DELL TECHNOLOGIES ($NYSE:DELL) published their earnings results for the quarter ending July 31 2023, announcing total revenue of USD 22934.0 million, a 13.2% drop from the same quarter of the previous year. Net income was reported as USD 462.0 million, representing a 9.6% decrease from the same period of the prior year.
Price History
On Thursday, DELL TECHNOLOGIES released its quarterly earnings report for the second quarter of FY2024. The results showed a strong performance, with the company’s stock opening at $56.0 and closing at $56.2, up 1.0% from its previous closing price of 55.7. This jump in stock price shows investors’ confidence in the company’s performance over the last quarter. The company reported significant growth in both revenue and net income year-over-year.
The company’s strong financial performance was primarily driven by its robust sales in its consumer and enterprise businesses. The company’s strong financial performance this quarter is a testament to its commitment to creating value for its customers and shareholders alike. With a steady growth in revenue, net income, and stock prices, DELL TECHNOLOGIES has shown that its investments into its products and services are indeed paying dividends. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Dell Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 93.62k | 1.9k | 2.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Dell Technologies. More…
| Operations | Investing | Financing |
| 8.1k | -2.81k | -2.7k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Dell Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 85.66k | 88.33k | -3.83 |
Key Ratios Snapshot
Some of the financial key ratios for Dell Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.8% | 15.2% | 4.5% |
| FCF Margin | ROE | ROA |
| 5.6% | -90.9% | 3.1% |
Analysis
At GoodWhale, we recently conducted an analysis of DELL TECHNOLOGIES‘ wellbeing. We used our Risk Rating to determine that DELL TECHNOLOGIES is a medium risk investment in terms of financial and business aspects. During the assessment, we detected two risk warnings in DELL TECHNOLOGIES’ income sheet and balance sheet. If you would like to access more detailed information on the findings of this analysis, we invite you to register with us to check it out. More…
Peers
In the technology industry, competition is fierce. Companies are constantly trying to one-up each other with new products and features. This is especially true for Dell Technologies Inc and its competitors: VMware Inc, NetApp Inc, and HP Inc. These companies are constantly trying to outdo each other, and it makes for an exciting and ever-changing landscape.
– VMware Inc ($NYSE:VMW)
VMWare Inc. is a publicly traded software company headquartered in Palo Alto, California. It was founded in 1998 and provides virtualization software for x86-64 computers. VMWare’s primary product is its hypervisor, which creates virtual machines on which other operating systems can be installed. VMWare also offers cloud computing, networking, and security products.
VMWare has a market capitalization of $45.57 billion as of 2022. The company’s return on equity is -1025.37%. VMWare provides virtualization software for x86-64 computers. The company’s primary product is its hypervisor, which creates virtual machines on which other operating systems can be installed. VMWare also offers cloud computing, networking, and security products.
– NetApp Inc ($NASDAQ:NTAP)
NetApp, Inc. is a leading data management, cloud storage, and data backup company. It has a market cap of 13.54B as of 2022 and a ROE of 100.42%. The company’s products and services are used by major corporations and governments around the world.
– HP Inc ($NYSE:HPQ)
HP Inc is a technology company that provides personal computing and other services. The company has a market cap of $25.64 billion and a return on equity of -225.66%. HP Inc is a leading provider of personal computing and other technology services. The company offers a wide range of products and services, including PCs, printers, scanners, and more. HP Inc is a publicly traded company listed on the New York Stock Exchange.
Summary
DELL TECHNOLOGIES reported its FY2024 Q2 earnings on August 31 2023. Revenue for the quarter decreased 13.2% year-on-year to USD 22934.0 million, while net income fell by 9.6% to USD 462.0 million from the same period of the previous year. Investors may find this information useful when considering investing in DELL TECHNOLOGIES, as the company’s results indicate a moderate decline in the past year. However, further research into trends in the company’s performance over a longer period and its current market position is recommended to enable a more informed decision on whether to invest or not.
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