Shulou(Shulou.com)11/24 Report--

According to news in the morning of March 3, Beijing time, Dell today released its results for the fourth quarter of fiscal year 2023 ending February 3, 2023, announcing that Chief Financial Officer Tom Tom Sweet, 63, will retire at the end of the second quarter. Sweet became Dell's chief financial officer in 2014 and will be taken over by Yvonne McGill.

Dell shares rose nearly 6 per cent after fourth-quarter revenues and profits beat analysts' expectations as strong demand for servers and network equipment offset a decline in the core PC business.

Due to higher borrowing costs and lower consumer spending, Dell's growth has been hampered, and consumers and businesses have delayed system upgrades. Dell's total revenue fell 11% to $25.04 billion in the fourth quarter, but higher than the $23.39 billion expected by 12 analysts.

Storage and server demand is still strong, becoming a rare bright spot, mainly because of the transformation of enterprises to digital, mixed office is becoming popular.

Revenue from Dell's infrastructure solutions division, which involves servers, storage devices, network hardware, and other businesses, grew 7% in the fourth quarter. Revenue from the business and consumer sectors, which mainly operate the PC business, fell 17% and 40%, respectively.

In early February, Dell announced more than 6000 job cuts. Dell's net profit from continuing operations was about $606 million in the fourth quarter, compared with a loss of $29 million in the same period a year ago.

In fiscal year 2023, Dell's total revenue reached $102.3 billion, an increase of 1% over the same period last year; its full-year operating profit was $5.8 billion, an increase of 24% over the same period last year; Nonmuri GAAP's operating profit was $8.6 billion, an increase of 11% over the same period last year.

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