Dell revenue rises 9 percent in first report as public company

February 28, 2019

(Reuters) – Dell Technologies Inc reported on Thursday a nearly 9 percent rise in quarterly revenue in its first earnings report since a return to public markets, lifted by demand for its servers and network devices.

The company 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.

For the fourth quarter ended Feb. 1, net loss attributable to Dell jumped nearly three-fold to $299 million. Operating expenses surged 13.7 percent to $6.78 billion.

Revenue in its Infrastructure Solutions Group, which houses its servers and network device business, rose 10 percent to $9.9 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.

HP Inc on Wednesday reported quarterly revenue that fell short of estimates, due to weak demand in its printer as well as in its personal systems businesses.

Total revenue rose to $23.84 billion from $21.96 billion.

Separately, VMware Inc beat fourth-quarter revenue estimates on strong demand for its software to boost cloud computing efficiency.

(Reporting by Vibhuti Sharma in Bengaluru; Editing by Sriraj Kalluvila)

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