ReutersFeb 26, 2021 04:15:15 AM
(Reuters) – Dell Technologies Inc on Thursday surpassed Wall Street’s estimates for sales for the holiday quarter, aided by demand for desktops and notebooks as most offices continued to work remotely during the COVID-19 health crisis.
Revenue for the Client Solutions Group, which includes desktops, notebooks and tablets, was $ 13.8 billion, 17% higher than last year. The company said it shipped a record 50.3 million units in 2020.
A global shift to remote working and learning early last year had increased demand for remote workstation products, which benefited computer hardware manufacturers and cloud service providers alike.
Dell is in a position to capitalize on projected mid-single-digit growth in IT spending in 2021, said Jeff Clarke, chief operating officer.
Revenue from the data center business was $ 8.8 billion for the quarter, year-on-year, while VMware Inc revenue was $ 3.3 billion. Dell plans to spin off its 81% stake in the software unit to help reduce debt.
Total revenue rose 9% to $ 26.1 billion in the three months ended January 29, while analysts estimated $ 24.5 billion, according to IBES data from Refinitiv.
Net income attributable to the company increased to $ 1.2 billion from $ 408 million a year ago as administrative expenses decreased 19% in the quarter.
(Reporting by Ayanti Bera in Bengaluru; editing by Maju Samuel)
This story was not edited by Firstpost staff and is generated by automatic feed.
