Dell revenue up to $23.5 billion in Q3 2020
Published 27 November 2020
Dell Technologies has released its financial results for the third quarter of its 2021 fiscal year, seeing a 3% increase in year-on-year revenue growth to US$23.5 billion.
Operating income was at US$1.1 billion, a 35% year-on-year increase, while net income was US$881 million, a significant 60% year-on-year growth compared to $552 million in Q3 2019.
“Technology has never been more important, and as the world evolves, so does our business,” said Jeff Clarke, Vice Chairman and Chief Operating Officer of Dell.
Several factors contributed to the rise in revenue across business categories, including unprecedented demand for remote work, as well as learning and gaming solutions.
“In the third quarter, we drove value by expanding profitability at a significant multiple of revenue and generated $3 billion in operating cash flow,” said Tom Sweet, the Chief Financial Officer of Dell.
Dell accelerated their as-a-Service strategy and hybrid cloud capabilities at the edge with a view to win in these growing markets and make it easy for customers to manage data and workloads across their operations.
“We delivered differentiated performance through our diversified portfolio and are leaning into growth opportunities while managing operating expenses in a disciplined way,” Mr. Sweet added.
In October, Dell announced the expansion of its as-a-Service capabilities with Project APEX to unify PC and IT infrastructure and deliver simplified solutions.
By Jie Yee Ong, Tech Reporter