Dell had its best day since founder and CEO Michael Dell brought the company back to the stock market in 2018.
.Shares of the PC and server manufacturer surged 31% to $124.59, after the company posted fiscal fourth-quarter results that beat estimates. That tops the stock's 21% gain from Sept. 1, which followed a better-than-expected earnings report.
For the latest quarter, Dell reported revenue of $22.32 billion, down 11% from the year-ago quarter but eclipsing the $22.16 billion. Adjusted earnings per share of $2.20 surpassed analysts' estimate of $1.73. Dell's net income of $1.16 billion marked an increase of 89% from its prior fourth quarter.
The company, demonstrating robust demand for its artificial intelligence servers, also said it's increasing its annual dividend by 20% to $1.78 per share, and expects revenue between $21 billion and $22 billion for the first quarter.
If you want to know more details to provide support for your investment and business activities, this financial report that we have selected for you can give you what you want, please subscribe to read it. FORESIGHT which is the preeminent internal reference about equity markets, will provide more forward-looking and compelling investment suggestions to investors.
by- ANDREW SMITH
Audience
per year
Subscriber