Dell Technologies Inc (NYSE:DVMT) stock was on its way up today following the release of its earnings report for its fiscal third quarter of 2018.
During its fiscal third quarter of the year, Dell Technologies Inc reported revenue of $19.61 billion. This is an increase over its revenue of $16.25 billion that was reported in the same period of the year prior. It also came in above Wall Street’s revenue estimate of $18.98 billion for the quarter.
Dell Technologies Inc reported an operating loss of $533 million for its fiscal third quarter of 2018. The is an improvement over its operating loss of $1.51 billion that was reported in its fiscal third quarter of 2017.
Net loss reported by Dell Technologies Inc for its fiscal third quarter of 2018 came in at $941 million. This is down from its net loss of $1.64 billion that was reported in the same quarter of the previous year.
Dell Technologies Inc notes that strong results from VMware helped in its fiscal third quarter of 2018. This includes revenue of $2.0 billion and operating income of $639 million for the quarter.
“In the third fiscal quarter, we delivered solid performance across the business,” Tom Sweet, CFO at Dell Technologies Inc, said in a statement. “Moving forward, we’ll maintain our focus on profitable growth, generating strong cash flow and delivering a comprehensive and seamless solutions portfolio, incorporating the capabilities of all of the companies under Dell Technologies.”
DVMT stock was up 1% as of noon Thursday and is up 32% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.