Dell Technologies (NYSE:DELL) reported quarterly earnings of $2.20 per share which beat the analyst consensus estimate of $1.73 by 27.17 percent. The company reported quarterly sales of $22.30 billion which beat the analyst consensus estimate of $22.16 billion by 0.62 percent. This is a 10.94 percent decrease over sales of $25.04 billion the same period last year.
DELL TECHNOLOGIES Reports Q4 Revenue $22.3B, vs. Street Est of $22.17B.
DELL TECHNOLOGIES Reports Q4 Revenue $22.3B, vs. Street Est of $22.17B Read Post »
By Denny Jacob Dell Technologies reported a double-digit increase in adjusted net income for the fourth quarter as demand for its AI-optimized servers heated up. The PC-maker on Thursday said its bottom line, adjusted for one-time items, increased 22% for the quarter ended Feb. 2. Its top line declined to $22.32 billion, but came in slightly better than Wall Streets forecasts. Our strong AI-optimized server momentum continues, with orders increasing nearly 40% sequentially and backlog nearly doubling, said Chief Operating Officer Jeff Clarke. The Round Rock, Texas-based companys Infrastructure Solutions segment increased 10% overall from the AI boost, while storage revenue rose 16%. Dell said orders for its AI-optimized servers came from a wider range of customers and geographies. Here is how Dell did in the fourth quarter: — Revenue declined 11% to $22.32 billion from $25.04 billion in the year-ago quarter. Analysts expected $22.17 billion. — Adjusted net income
Dell’s Results Boosted by Demand for AI-Optimized Servers — WSJ Read Post »
Dell Technologies (DELL) reported fiscal Q4 non-GAAP earnings late Thursday of $2.20 per diluted share, up from $1.80 a year earlier. Analysts polled by Capital IQ expected $1.72. Net revenue for the quarter ended Feb. 2 was $22.32 billion, down from $25.04 billion a year earlier. Analysts surveyed by Capital IQ expected $22.17 billion. Dell said it’s raising its annual dividend by 20% to $1.78 per share, with $0.445 per share for the first quarterly distribution payable on May 3 to shareholders on April 23. The company’s shares were rising past 15% in recent Thursday after-hours trading.
Dell Fiscal Q4 Non-GAAP EPS Increases, Net Revenue Drops; Raises Annual Dividend Read Post »
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our target price by $99 to $1,033, 32x our ’25 EPS view, above peers on ASML’s leading competitive position and sizeable backlog (EUR39B) and above its 3-year average (~29x) on accelerating demand for advanced equipment to support AI applications. We raise our ’24 EPS view by EUR0.36 to EUR18.76 and raise ’25’s by EUR0.35 to EUR29.90 as our outlook for the semiconductor industry continues to broadly improve across key memory and logic applications. Our downgrade is valuation-based, as shares are up ~15% since the publishing of our previous note (Jan. 24) and up ~30% year-to-date. We believe shares have risen largely on a better-than-expected backlog position entering ’24, with further support coming from strong peer earnings performance and positive industry commentary. Still, we think much
CFRA Lowers Rating On Shares Of Asml Holding N.v. To Buy From Strong Buy Read Post »
The following is a summary of the HP Inc. (HPQ) Q1 2024 Earnings Call Transcript: Financial Performance: HP reported Q1 2024 revenue of $13.2 billion, a decrease of 4-5% in constant currency, with both Personal Systems and Print revenue seeing a decrease. Despite the revenue decline, HP delivered non-GAAP operating profit of $1.1 billion, an increase of 5%, and non-GAAP diluted net earnings per share increased 11% to $0.81. HP’s gross margin was at 21.9%, an increase due to improved commodity and logistics costs, yet still affected by competitive pricing. HP returned $775 million to shareholders, including $500 million in share repurchases and $275 million in dividends, and plans to continue active share repurchases for the rest of the year. Business Progress: HP has made advancements in key growth areas, including gaming, Orco solutions, and consumer subscriptions, with a company-wide AI strategy being successfully implemented. The company plans continues transitioning
HP (NYSE:HPQ) Q1 2024 Earnings Conference Read Post »
Piper Sandler analyst Brent Bracelin maintains Salesforce with a Neutral and raises the price target from $285 to $300.
Piper Sandler analyst maintains Salesforce with a Neutral Read Post »
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month target to $330 from $300 on a P/E of 29.6x our CY 25 EPS view, within peers but well below historical. We increase our FY 25 (Jan.) EPS to $9.74 from $9.45 and keep FY 26 at $11.14. CRM posts Jan-Q EPS of $2.29 vs. $1.68, beating the $2.27 consensus. Sales rose 11%, near expectations, with subscription and support revenues +12% and professional services -9%. Despite a disappointing FY 24 revenue outlook that implies growth decelerating to 9%, we think CRM is setting the bar low given the lag effect of measured spending on the subscription side, but note bookings are improving. Importantly, EPS/FCF guide was above our view as CRM executes well on operating margins (seen expanding by 200 bps to 32.5%
CFRA Maintains Strong Buy Opinion On Shares Of Salesforce, Inc. Read Post »
The following is a summary of the Salesforce, Inc. (CRM) Q4 2024 Earnings Call Transcript: Financial Performance: Salesforce reported Q4 revenue of $9.3 billion, an 11% increase year over year, with full fiscal year revenue rising to $34.9 billion. Non-GAAP operating margin for Q4 was 31.4%, a rise of 220 basis points year over year. The company saw a full year non-GAAP operating margin of 30.5%. Operating cash flow for the fiscal year reached a record $10.2 billion. Remaining performance obligation (RPO) for Q4 sat at $56 billion, a 12% increase. The revenue attrition for the quarter was slightly above 8%, consistent with previous quarters. The company has projected a non-GAAP operating margin of 32.5% and GAAP operating margin of 20.4% for fiscal year 2025. Business Progress: There was strong growth seen in the public sector and travel transportation and hospitality sectors. Eight out of the top ten deals in
Salesforce (NYSE:CRM) Q4 2024 Earnings Conference Read Post »
Barclays analyst Tim Long maintains HP with a Underweight and raises the price target from $22 to $24.
Barclays analyst maintains HP with a Underweight Read Post »
Oppenheimer Adjusts Marvell Technology Price Target to $80 From $70, Maintains Outperform Rating.
Oppenheimer Maintains Marvell Technology with an Outperform Rating Read Post »
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our price target by $8 to $208, using an EV/Sales ratio of 21x our FY 25 (Jan.) sales view, above peers due to SNOW’s growth history but below its 3-year average (~31x) as growth continues decelerating despite AI excitement. We lower our FY 25 sales view to $3.47B from $3.63B and initiate a FY 26 view at $4.55B. SNOW posts Jan-Q sales of $775M (+32% Y/Y) and EPS of $0.35 (+150%), both above consensus, while guiding for softer-than-expected sales in FY 25. We think the guide is conservative, and we see upside from new products like Document AI, with support from its $5.2B backlog (+$1.5B Q/Q) and still-high NRR (131%). In a surprise announcement, Sridhar Ramaswamy (previously SVP of AI) has assumed the CEO role
CFRA Raises Opinion On Shares Of Snowflake Inc. To Buy From Hold Read Post »