Dell Reports Better-Than-Expected Q4 Results Driven By AI Server Demand
Portfolio Pulse from Erica Kollmann
Dell Technologies, Inc. (NYSE:DELL) reported Q4 earnings of $2.20 per share, surpassing the $1.73 analyst consensus, with sales of $22.3 billion beating the $22.16 billion estimate. The increase was driven by demand for AI servers, with server and networking revenue at $4.9 billion. Dell announced a 20% increase in its annual cash dividend to $1.78 per share. Shares rose 16.2% after-hours to $110.00.
February 29, 2024 | 9:53 pm
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Dell Technologies reported higher-than-expected Q4 earnings and sales, driven by AI server demand. Announced a 20% dividend increase. Shares surged 16.2% after-hours.
Dell's Q4 performance exceeded analyst expectations, particularly due to the demand for AI-optimized servers. The significant increase in its annual dividend and the after-hours stock price surge reflect strong investor confidence and the company's optimistic outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100