Dell Stock Ticks Higher Amid Mixed Q3 Earnings Report: The Details
Portfolio Pulse from Ryan Gustafson
Dell Technologies Inc. (NYSE:DELL) reported mixed Q3 earnings with EPS of $1.88 beating estimates but revenue of $22.25 billion missing expectations. Year-over-year, earnings decreased by 18.26% and revenue by 9.99%. The Infrastructure Solutions Group saw a 12% decline in revenue, although servers and networking grew 9% sequentially. Dell's cash flow from operations was strong at $2.2 billion for the quarter and $9.9 billion over the last 12 months. The company returned $1 billion to shareholders through buybacks and dividends. After an initial drop, Dell's stock recovered slightly in after-hours trading.
November 30, 2023 | 10:06 pm
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NEUTRAL IMPACT
Dell's Q3 earnings beat EPS estimates but missed on revenue, with a significant year-over-year decline in both metrics. Strong cash flow and shareholder returns were highlighted, and the stock showed resilience in after-hours trading.
The mixed earnings report presents both positive and negative aspects. The EPS beat could be seen as a positive signal, while the revenue miss and year-over-year declines are negatives. The strong cash flow and shareholder returns may offset some of the negative sentiment. The stock's recovery after an initial drop suggests a neutral short-term impact as the market digests the mixed results.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100