DELL: Dell Stock Pumps 3% as Revenue Tops Consensus on Demand for AI Servers
PC and server maker is picking up pace after mostly missing out on AI boom quarter after quarter. Sales in the server unit jumped 80%.
- Dell stock
DELL powered higher by as much as 3% in its first deals Friday after the company posted better-than-expected earnings and revenue figures. For its July quarter, the PC and server maker picked up revenue of $25.06 billion against $24.53 billion expected. Earnings arrived at $1.89 a share, adjusted, against $1.71 a share projected by analysts. - Net income jumped 85% to $841 million from the year-ago figure of $455 million. Behind the good results was solid growth in the hottest corner of tech — artificial intelligence. Demand for AI-enabled servers hit $3.1 billion, up from $1.7 billion logged a year ago. Overall, the Servers and Networking revenue rose 80% to $7.76 billion as Dell seemed to have picked up momentum in the AI race after missing out on a big chunk of the rally.
- ”We are competing in all of the big AI deals and are winning significant deployments at scale,” operating chief Jeff Clark said on the earnings call with analysts. “Our AI momentum accelerated in Q2, and we’ve seen an increase in the number of enterprise customers buying AI solutions each quarter,” he added. Shares of Dell are up by a hefty 48%, valuing the firm at just under $80 billion.
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PC and server maker is picking up pace after mostly missing out on AI boom quarter after quarter. Sales in the server unit jumped 80%.
- Dell stock DELL powered higher by as much as 3% in its first deals Friday after the company posted better-than-expected earnings and revenue figures. For its July quarter, the PC and server maker picked up revenue of $25.06 billion against $24.53 billion expected. Earnings arrived at $1.89 a share, adjusted, against $1.71 a share projected by analysts.
- Net income jumped 85% to $841 million from the year-ago figure of $455 million. Behind the good results was solid growth in the hottest corner of tech — artificial intelligence. Demand for AI-enabled servers hit $3.1 billion, up from $1.7 billion logged a year ago. Overall, the Servers and Networking revenue rose 80% to $7.76 billion as Dell seemed to have picked up momentum in the AI race after missing out on a big chunk of the rally.
- ”We are competing in all of the big AI deals and are winning significant deployments at scale,” operating chief Jeff Clark said on the earnings call with analysts. “Our AI momentum accelerated in Q2, and we’ve seen an increase in the number of enterprise customers buying AI solutions each quarter,” he added. Shares of Dell are up by a hefty 48%, valuing the firm at just under $80 billion.