Dell Technologies celebrated high earnings and a 15% stock increase. "The Round Rock, Texas-based technology giant’s annual sales came in at $88.4 billion, off 14 percent from a year before and $13.5 billion less than its record $101.9 billion haul in 2022. Despite the revenue and operating income decline, Dell Technologies managed to increase its net income by 32% to $3.195 billion. The company’s fiscal year ended Feb. 2."
This is great for Dell and the stock holders. Dell has recently pivoted to AI over the last half of the year. Coming out with the AI driven PowerScale models the F710 and the F210. Designed for Generative AI workloads. The AI server class built around NVIDIA GPUs such as the XE line that range from 8 H100 to 4 H100 GPUs. A bulk of this revenue came from AI driven sales.
Even though Dell is celebrating the numbers, the year did not go exactly as planned according to an article in CRN titled "Dell COO Jeff Clarke Says 2024 'Didn’t Go As Planned' As Revenue, PC Sales Drop" (crn.com). While numbers were great, sales were down in Storage, networking and PCs around 12% from last year. Layoffs around the storage division and a few good men that jumped ship didn't help storage sales.
With Dell World around the corner I am sure Dell will be off and running and, as always, headed in the right direction.
Shewby