Dell Technologies Inc. (NYSE: DELL) reported its financial results for the fiscal fourth quarter on Thursday that topped analysts’ estimates for profit and sales, despite the ongoing COVID-19 crisis that continues to wreak havoc on global businesses.
The Coronavirus pandemic has so far infected more than 29 million people in the United States and caused over a half million deaths.
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Dell shares were reported more than 1.5% up in after-hours trading on Thursday. The stock is now exchanging hands at a per-share price of £58.15. In comparison, it had plummeted to as low as £20.72 per share in March 2020. Learn more about how to invest in the stock market.
Dell’s Q4 financial results versus analysts’ estimates
Dell reported £930 million of earnings in the fourth quarter, that translates to £1.13 per share. In the same quarter last year, it had earned £298.62 million or 38.76 pence per share. Adjusted for non-recurring items, the American multinational earned £1.94 per share in Q4 versus the year-ago figure of £1.44 per share.
Dell said that it generated £18.74 billion of revenue in the recent quarter that represents a year over year increase of 9%. In the prior quarter (Q3), the Texas-based company had registered £660 million of net income.
According to FactSet, experts had forecast the company to report £17.59 billion of sales in the fourth quarter. Their estimates for adjusted per-share earnings stood at a lower £1.54. CFO Tom Sweet commented on the earnings report on Thursday and said:
“This year’s strong results are a testament to the flexibility of Dell Technologies’ business model and the resilience of our team.”
In separate news from the U.S., vacation rental online marketplace, Airbnb Inc., also reported its quarterly financial results on Thursday.
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Dell’s full-year revenue jumps 2% to £67.62 billion
For the full financial year, the technology giant posted £67.62 billion of revenue – a 2% increase from last year. Dell’s Chief Operating Officer, Jeff Clarke, said on Thursday:
“In the past year, our team rallied to support our customers and partners worldwide as technology played a central role in keeping our society, economy and lives moving forward.”
Dell performed largely upbeat in the stock market last year with an annual gain of close to 45%. At the time of writing, the American multinational technology company is valued at £42.88 billion and has a price to earnings ratio of 25.