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2025-01-18 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >
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Shulou(Shulou.com)11/24 Report--
According to the news on the morning of November 22, Beijing time, Dell Technology today released its financial results for the third quarter of fiscal year 2023. According to the report, Dell Technology's total net revenue in the third quarter was $247.21, down 6% from $26.424 billion a year earlier. Net profit from continuing operations was $241 million, down 93% from $3.683 billion from continuing operations in the same period last year. Not in accordance with US GAAP, Dell's total adjusted net revenue in the third quarter was $24.721 billion, down 6 per cent from $26.432 billion a year earlier, and adjusted net profit was $1.705 billion, up 30 per cent from $1.313 billion a year earlier.
Dell's third-quarter adjusted revenue and earnings per share both beat Wall Street analysts' expectations, pushing its shares up nearly 5 per cent in after-hours trading.
Performance summary: for the quarter ended October 28, 2022, Dell Technology's net profit from continuing operations was $241 million, down 93% from $3.683 billion a year earlier. Diluted earnings per share were $0.33, down 93% from $4.68 a year earlier.
Excluding general accounting principles (excluding amortization charges for intangible assets, tax effects, equity incentive expenses and other one-time items), Dell Technology's adjusted third-quarter net profit was $1.705 billion, up 30% from $1.313 billion a year earlier; adjusted earnings per share was $2.30, up 39% from $1.66 a year earlier, beating analysts' expectations. On average, 14 analysts expected Dell's adjusted earnings per share to reach $1.60 in the third quarter, according to data provided by Yahoo Finance.
Dell's total net revenue in the third quarter was $247.21, down 6 per cent from $26.424 billion a year earlier. Without GAAP, Dell's adjusted net revenue for the third quarter was $24.721 billion, down 6% from $26.432 billion a year earlier, but it still beat analysts' expectations. On average, 13 analysts had expected Dell's third-quarter revenue to reach $24.56 billion, according to data provided by Yahoo Finance.
Net profit from Dell's continuing operations accounted for 1.0% of total net revenue, or net profit margin, in the third quarter, compared with 13.9% a year earlier. Excluding one-time items (not in accordance with GAAP), Dell's adjusted net profit margin for the third quarter was 6.9%, compared with 5.0% a year earlier.
Dell Technology's third-quarter operating profit was $1.762 billion, up 68 per cent from $1.046 billion a year earlier. Without general accounting standards, Dell Technology's adjusted operating profit for the third quarter was $2.38 billion, up 22% from $1.956 billion a year earlier.
Dell's operating margin in the third quarter was 7.1%, compared with 4.0% a year earlier. Excluding one-time items (not in accordance with GAAP), Dell's adjusted operating margin in the third quarter was 9.6%, compared with 7.4% a year earlier.
Results by business unit: Dell Technology's third-quarter product revenue was $18.938 billion, down 10% from $20.979 billion a year earlier, while service revenue was $5.783 billion, up 6% from $5.445 billion a year earlier.
By specific business unit:
-Dell Technology's revenue from Infrastructure Solutions Group in the third quarter was $9.63 billion, up 12% from $8.564 billion a year earlier. Of this total, revenue from the storage division was $4.429 billion, up 11% from $4.003 billion a year earlier, while revenue from the server and networking division was $5.201 billion, up 14% from $4.561 billion a year earlier. Infrastructure Solutions Group's third-quarter operating profit was $1.374 billion, up 54 per cent from $894 million a year earlier, and accounted for about 14.3 per cent of the group's revenue, compared with about 10.4 per cent a year earlier.
Dell Technology's revenue from customer solutions groups in the third quarter was $13.775 billion, down 17% from $16.556 billion a year earlier. Of this total, revenue from the commercial sector reached $10.747 billion, down 13% from $12.3 billion in the same period last year, while revenue from the consumer sector reached $3.028 billion, down 29% from $4.256 billion a year earlier. Customer Solutions Group's third-quarter operating profit reached $1.06 billion, down 7 per cent from $1.142 billion a year earlier, and accounted for about 7.7 per cent of the group's revenue, compared with about 6.9 per cent a year earlier.
Other financial information: Dell Technology's total revenue cost in the third quarter was $19.014 billion, down 9% from $20.89 billion a year earlier. Of this total, the revenue cost of products was $15.601 billion, down 13% from $17.833 billion in the same period last year, while the revenue cost of services was $3.413 billion, up 12% from $3.057 billion in the same period last year.
Dell Technologies' third-quarter gross profit was $5.707 billion, up 3% from $5.534 billion a year earlier, and its gross margin was 23.1%, compared with 20.9% a year earlier. Excluding one-time items (not in accordance with GAAP), Dell Technology's adjusted gross profit in the third quarter was $5.865 billion, up 2% from $5.729 billion a year earlier, and an adjusted gross margin of 23.7%. Compared with 21.7% in the same period last year.
Dell Technology's total operating expenses in the third quarter were $3.945 billion, down 12% from $4.488 billion a year earlier. Of this total, sales, general and administrative expenses were $3.268 billion, down 15 per cent from $3.838 billion in the same period last year, while R & D expenditure was $677 million, up 4 per cent from $650 million in the same period last year.
Dell's total operating expenses accounted for 16.0% of total net revenue in the third quarter, compared with 16.9% a year earlier. Of this total, sales, general and administrative expenses accounted for 13.3 per cent of total net revenue, compared with 14.4 per cent in the same period last year, and R & D expenditure accounted for 2.7 per cent of total net revenue, compared with 2.5 per cent in the same period last year.
Dell's cash change from business operations in the third quarter was $396 million, compared with $3.251 billion a year earlier.
At the end of the third quarter, Dell Technology held a total of $6.5 billion in cash and investments and $27.1 billion in deferred operations.
At the end of the third quarter, Dell Technology's remaining performance obligations were $39 billion.
Dell's recurrent revenue in the third quarter was about $5.4 billion, up 11% from a year earlier.
In the third quarter, Dell Technology returned $847 million in cash to shareholders in the form of share buybacks and dividends.
Share price movements: Dell technology shares fell 97 cents, or 2.31 percent, to close at 41.07 dollars in regular trading on the new York stock exchange. Dell Technology shares rose $2.00, or 4.87 per cent, to $43.07 in after-hours trading as of 04:48 EDT on the 21st (05:48 Beijing time on the 22nd). In the past 52 weeks, Dell Technologies has priced as high as $61.54 and as low as $32.90.
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