November 23 (Reuters) – Laptop maker Dell Technologies Inc (DELL.N) on Tuesday forecast current-quarter revenue that was higher than estimates, suggesting strong demand for personal computers and their servers from companies that are moving to a hybrid working model.
The company said it is expecting fourth-quarter revenue from continuing operations in the range of $27 billion to $28 billion, above analyst estimates of $26.23 billion, according to Refinitv IBES.
Revenue at Dell’s customer solutions business, home to Dell’s hardware devices, grew 35% in the quarter as demand exploded from companies upgrading their computer systems to meet challenges of working from home.
Dell benefits from a diverse portfolio of hardware and software revenue streams, and it is currently trying to tap into high-growth markets, such as edge computing, cloud, and telecommunications. markets that have gained traction since the pandemic began.
Revenue from the infrastructure solutions group, which includes the data center business, grew 5% to $8.4 billion in the quarter.
Total revenue rose 21% to $28.39 billion, compared with the median analyst estimate of $26.82 billion, according to Refinitiv data.
The company’s net income more than quadrupled to $3.89 billion, or $4.87 per share, for the third quarter ended October 29, from $881 million, or $1 $0.08 per share, a year earlier.
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Meanwhile, rival PC maker HP Inc (HPQ.N) also reported quarterly profit more than quadrupled to $3.09 billion and said its personal systems unit grew 13%. revenue.
Dell’s newly spun-out cloud unit, VMware, posted a 10% increase in revenue for the quarter.
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