Dell posts new high in revenue for year
Round Rock-based Dell Technologies pulled in record revenue in its most recent fiscal year, as the growing number of people working from their homes increased demand for the company’s products.
The technology giant had revenue of $94.2 billion for the fiscal year ended Jan. 29. The company beat analyst expectations in the fiscal fourth quarter and the full year.
Jeff Clarke, Dell’s chief operating officer, said technology played a key role in keeping society moving in the past year. He said Dell has been able to help customers adapt to new remote work and education realities and that the company is in position to capitalize on continued growth opportunities.
The company’s revenue rose 2 percent over the previous year. Dell reported net income of $3.25 billion, or $4.22 per share, for the fiscal year.
The company reported quarterly revenue of $26.1 billion, which was a 9 percent increase from the same quarter the previous year. Analysts had projected revenue of $24.5 billion. For the quarter, the company had net income of $1.3 billion, or $1.57 per share. Dell said its adjusted earnings for the quarter were $ $2.70 per share, well above Wall Street analysts’ forecasts of $2.14 per share.