Dell Earnings: DELL Stock Jumps 1% After Beating Q2 Estimates

Dell (NYSE:DELL) earnings for the computer company’s second quarter of fiscal 2021 have its stock up after-hours Thursday. That’s thanks to its adjusted earnings per share of $1.92 beating out Wall Street’s estimate of $1.39. Its revenue of $22.73 billion also comes in above analysts’ estimates of $22.52 billion.

Dell (DELL) Technologies Display and Logo
Source: Jonathan Weiss / Shutterstock.com

Here are some additional highlights from the most recent Dell earnings report.

  • Adjusted per-share earnings are down 11% from $2.15 in the same period of the year prior.
  • Revenue for the quarter is sitting 3% lower than the $23.37 billion reported in Q2 of fiscal 2020.
  • Operating income of $1.14 billion is a 119% increase year-over-year from $519 million.
  • The Dell earnings report also has it bringing in a net income of $1.1 billion.
  • That’s a 74% decline compared to the company’s net income of $4.23 billion from the same time last year.

Jeff Clarke, vice chairman and COO of Dell, said the following in the earnings report.

“We provide the technology solutions customers need to be productive and collaborative no matter where they work or learn, while delivering the data-driven insights and automation they need to innovate and transform. In Q2, we saw strength in the government sector and in education, with orders up 16 and 24 percent, respectively, as parents, teachers and school districts prepare for a new frontier in virtual learning.”

Dell doesn’t offer up guidance for fiscal 2021 in its earnings report. That makes sense with the novel coronavirus still affecting the economy. Many other companies are withholding outlooks during the pandemic.

DELL stock was up 1.3% after-hours Thursday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/08/dell-q2-earnings-bump-stock-up/.

©2020 InvestorPlace Media, LLC