Dell Technology Group’s Q3 revenue for fiscal year 2024 is US$22.3 billion, with deferred revenue increasing 7% year-on-year

According to news from this site on December 1, this morning, Dell Technology Group announced its third fiscal quarter financial report for fiscal year 2024.

Financial report shows that Dell’s third fiscal quarter revenue reached 22.3 billion U.S. dollars (Note from this site: currently about 159.222 billion yuan), which was lower than the expected 23 billion U.S. dollars. For the quarter, Dell's operating profit was $1.5 billion (currently about 10.71 billion yuan), and non-GAAP operating profit was $2 billion.

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Dell said third-quarter revenue fell below expectations due to a slower-than-expected recovery in the hardware and software markets. As expected, its stock price fell by about 4% after hours.

Dell Technologies Group’s remaining performance value at the end of this fiscal quarter was US$39 billion, and recurring revenue was US$5.6 billion, a year-on-year increase of 4%. Total extended revenue was US$29.1 billion, a year-on-year increase of 7%. The company's cash and investments balance was $9.9 billion, driven by increases in software and hardware maintenance agreements. Dell's Customer Solutions segment, which includes its consumer and enterprise PC businesses, reported third-quarter revenue. was US$12.28 billion (currently approximately RMB 87.679 billion), a year-on-year decrease of nearly 11%; Infrastructure Solutions Group (ISG) third quarter revenue was US$8.5 billion (currently approximately RMB 60.69 billion).

In addition, Dell’s commercial customer business revenue was US$9.8 billion (currently approximately 69.972 billion yuan), consumer business revenue was US$2.4 billion (currently approximately 17.136 billion yuan), and operating profit was US$925 million. (Current approximately RMB 6.605 billion).

Analysts pointed out that Dell is not the only PC vendor facing challenges, but it has been affected more than its competitors due to the weakness in the business PC market, so this is the company's core market.

Dell Chief Operating Officer Jeff Clark revealed that Dell’s server and networking business revenue increased 9% on a second-quarter basis due to growing customer interest in generative artificial intelligence

It is reported that Dell’s server and network business revenue reached US$4.7 billion. Storage business revenue was $3.8 billion, with strong demand in the areas of unstructured data solutions and data protection. Operating profit was $1.1 billion.

Dell raised its full-year earnings per share forecast to $6.63, plus or minus 10 cents, compared with the previous forecast of $6.30, plus or minus 20 cents

, according to research firm Canalys Forecast, the PC market is expected to benefit from the boost in demand for artificial intelligence. Adoption of AI-capable PCs is expected to accelerate starting in 2025, with such devices accounting for approximately 60% of all PC shipments by 2027

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