Dell Technologies (DELL) Tuesday reported a profit for the third quarter that easily trumped Wall Street estimates, as revenues jumped 21%, driven largely by strong demand for its PCs.<\/p>\n
Round Rock, Texas-based Dell’s third-quarter profit rose to $3.89 billion or $4.87 per share from $881 million or $1.08 per share last year.<\/p>\n
Adjusted earnings were $2.02 billion or $2.37 per share for the period, up from $1.71 billion or $2.03 per share last year. Analysts polled by Thomson Reuters estimated earnings of $2.18 per share. Analysts’ estimates typically exclude special items.<\/p>\n
Revenue for the quarter grew 21% to $28.39 billion from $23.48 billion last year. Analysts had a consensus revenue estimate of $26.82 billion.<\/p>\n
Client Solutions Group revenues grew to 35% to a record $16.5 billion, with commercial revenue up 40% and consumer revenue up 21%.<\/p>\n
The company said the segment’s growth reflects continued increase in high-value segments, including commercial PCs, high-end consumer and gaming. The company also achieved its highest year-over-year PC share gain in history for calendar third quarter, with shipments up 26.6% and global PC share up 3.0 points to 17.4%.<\/p>\n
Infrastructure Solutions Group revenue rose 5% to $8.4 billion, as servers and networking revenue was up 9% and storage revenue inched up 1%.<\/p>\n