Home ยป Dell Technologies Reports Q2 Financial Results: Revenue Decline but Exceeds Expectations due to AI Demand

Dell Technologies Reports Q2 Financial Results: Revenue Decline but Exceeds Expectations due to AI Demand

Dell Technologies has released its Q2 financial results for the fiscal year 2024, ending on August 4, 2023. Despite a 13% decrease in overall revenue compared to the same period last year, with total revenue of $22.934 billion, there was a 10% increase when compared to the previous quarter. The company also reported a net profit of $455 million.

The Infrastructure Solutions business group experienced an 11% decline in revenue, totaling $8.461 billion. However, the PowerStore and PowerFlex solutions continue to show consistent growth in the quarter. On the other hand, the Client Solutions business group saw a 16% decrease in revenue, amounting to $12.942 billion. This decline can be attributed to the increase in demand for workstation products, driven by the need for AI workload processing.

Jeff Clarke, CEO of Dell Technologies, stated that the overall demand and strong operational performance surpassed expectations. Dell will continue to focus on profitability in leading markets and capitalize on the growing AI trend, which has resulted in increased product demand across all business segments.

More Reading

Post navigation

Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

ASML’s Quarterly Performance Report Reveals Robust Sales Growth Amidst Heightened Challenges in the Semiconductor Industry

HPE’s Latest Quarter Revenue Increases by 1% to $7 Billion

Revolutionizing Video Editing with AI: Adobe’s Quarterly Performance Report Introduces Innovative Statistics and Sora Video Creation