New Zealand markets open in 1 hour 38 minutes
  • NZX 50

    11,814.34
    -38.59 (-0.33%)
     
  • NZD/USD

    0.6261
    -0.0022 (-0.35%)
     
  • ALL ORDS

    7,357.70
    -23.40 (-0.32%)
     
  • OIL

    90.55
    +2.44 (+2.77%)
     
  • GOLD

    1,773.10
    -3.60 (-0.20%)
     

Dell stock moves higher after posting record quarter

Yahoo Finance's Seana Smith reports on Dell's earnings results and how the stock reacted after hours.

Video transcript

SEANA SMITH: The earnings keep rolling in. And we've got another alert for you. Taking a look at Dell, a very strong quarter from the company, despite some of those macro headwinds out there, like supply chain issues, also softening PC demand. But a record quarter from the company, revenue coming in at $26.1 billion. That's up 16%. The estimate on the Street was for $25 billion. Adjusted EPS, you can see on your screen, coming in at $1.84, handedly beating the Street's expectations.

Diving into some of their business divisions here, storage revenue up 9% during the quarter to $4.2 billion. They're seeing demand across their portfolio. Services and networking revenue coming in at $5 billion. That's up 22% year over year. Jeff Clarke-- he's a vice chair and co-chief operating officer at Dell-- saying that we are built to outperform in a balanced and consistent way across the company. Went on to say, as our customers invest in their digital features and choose Dell as their trusted partner. The stock up just about 5% here afterhours. Dave.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting