Summary
Dell Technologies Inc. reported a year-over-year revenue increase of 1% for fiscal year 2023, reaching $102.3 billion, primarily driven by growth in its Infrastructure Solutions Group (ISG). Despite a challenging macroeconomic environment, the company saw an increase in ISG revenue due to strong performance in servers, networking, and storage offerings. However, the Client Solutions Group (CSG) experienced a 5% decline in revenue, largely attributed to decreased demand in the consumer segment and a reduction in units sold, partly offset by higher average selling prices. The company also announced a 12% increase in its quarterly dividend rate for fiscal year 2024, signaling confidence in its financial health and commitment to returning capital to shareholders. Dell Technologies is strategically focusing on modernizing its core offerings and pursuing growth in areas like Edge, Telecom, and as-a-Service models, exemplified by its Dell APEX initiative.
Financial Highlights
58 data points| Revenue | $102.30B |
| Cost of Revenue | $79.61B |
| Gross Profit | $22.69B |
| R&D Expenses | $2.78B |
| SG&A Expenses | $14.14B |
| Operating Expenses | $16.91B |
| Operating Income | $5.77B |
| Interest Expense | $1.22B |
| Net Income | $2.44B |
| EPS (Basic) | $3.33 |
| EPS (Diluted) | $3.24 |
| Shares Outstanding (Basic) | 734.00M |
| Shares Outstanding (Diluted) | 753.00M |
Key Highlights
- 1Dell Technologies reported a 1% increase in total net revenue to $102.3 billion for fiscal year 2023.
- 2The Infrastructure Solutions Group (ISG) saw a 12% revenue increase, driven by strong server, networking, and storage performance.
- 3The Client Solutions Group (CSG) experienced a 5% revenue decline, primarily due to softening demand in consumer and commercial segments.
- 4Operating income increased by 24% year-over-year, reaching $5.8 billion, with ISG operating income showing significant growth.
- 5The company repurchased approximately $2.8 billion of Class C Common Stock during fiscal year 2023.
- 6Dell announced a 12% increase in its quarterly dividend rate for fiscal year 2024, from $0.33 to $0.37 per share.
- 7The company continues to focus on its strategic priorities of modernizing core offerings and pursuing growth in new areas like Edge, Telecom, and as-a-Service through Dell APEX.