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Dell shares soar 15% after beating earnings expectations, cites rising demand for AI servers

March 2, 2024 by admin 0 Comments

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DELL

Matthew Busch | Bloomberg | Getty Images

Shares of Dell Technologies popped more than 18% in extended trading Thursday after the company released fourth-quarter results that beat analysts’ estimates on top and bottom lines.

Here’s how the company did:

Earnings per share: $2.20 adjusted vs. $1.73 expected by LSEG, formerly known as Refinitiv
Revenue: $22.32 billion vs. $22.16 billion expected by LSEG

Dell’s revenue for the fourth quarter fell 11% from $25.04 billion in the year ago quarter. The company reported a net income $1.16 billion, up 89% from the $614 million it posted in the same period last year.

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This article was originally published by Cnbc.com. Read the original article here.