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Dell Technologies Q3 results: Logs 21% rise in revenue at $28.4 bn

12:32 PM Nov 24, 2021 | Agencies

Dell Technologies has announced a record third quarter (Q3) results, generating revenue of $28.4 billion (up 21 per cent) with a net income of $3.9 billion, driven by growth across commercial PCs, servers and storage verticals.

The company achieved highest year-over-year PC share gain for its third quarter, with shipments up 26.6 per cent and global PC share up to 17.4 per cent.

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VMware revenue was $3.2 billion for the third quarter, up 10 per cent driven by broad-based strength across a diverse product portfolio, the company said late on Tuesday.

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Earlier this month, Dell completed the planned spin-off of VMware via tax-free distribution of shares to Dell investors.

"We continue to deliver strong results, with more than $13 billion in cash flow from operations on a trailing-twelve-month basis," said Tom Sweet, chief financial officer, Dell Technologies.

"The digital trends are tailwinds for our business, and along with our strategy and financial flexibility, lead us to be optimistic about our long-term growth prospects," Sweet added.

Dell's client solutions group revenue was $16.5 billion in the third quarter, up 35 per cent from a year ago.

In a conference call with analysts, Jeffrey Clarke, vice chairman of Dell Technologies, said that in client vertical, "we are pairing Windows 11 with our Dell Optimiser built-in intelligence to deliver the most personalised productive computing experience on the world's most intelligent business PCs. We believe the introduction of Windows 11 will continue to drive demand in PCs".

(With inputs from IANS)

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