INTERNATIONAL– Dell Technologies Inc topped Street estimates for quarterly revenue on Thursday in the computer maker’s first earnings report since a return to public markets and also forecast annual revenue above estimates, lifted by demand for its servers and network devices.
Dell, one of the top players in the PC market, returned to public markets on Dec. 28 after it bought back interest tied to the performance of software maker VMware, and shares have risen more than 22 percent since then.
Revenue in its Infrastructure Solutions Group, which houses its servers and network device business, rose 10 percent to $9.9 billion. Servers and networking revenue rose 14 percent to $5.3 billion.
Client Solutions Group segment revenue rose 4 percent to $10.9 billion. The unit holds its desktop PCs, notebooks and tablets, as well as branded peripherals business.
Excluding some items, Dell expects full-year 2020 revenue between $93 billion and $96 billion, mostly above analysts’ estimate of $94.11 billion, according to IBES data from Refinitiv.