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Dell Beats 2nd-Quarter Estimates for Earnings and Revenue

Dell Technologies reported that fiscal-second-quarter net income per share fell 23%, and adjusted earnings rose 17%, on 15% higher revenue.
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Shares of Dell Technologies  (DELL) - Get Dell Technologies Inc Class C Report eased after the computer and services giant reported that fiscal-second-quarter net income per share fell 23%, and adjusted earnings rose 17%, on 15% higher revenue.

The figures were stronger than Wall Street analysts' estimates.

For the quarter ended July 30, Dell earned $1.05 a share, compared with $1.37 a share in the year-earlier quarter. The latest adjusted earnings were $2.24 a share.

Revenue reached $26.12 billion from $22.73 billion a year earlier.

A survey of analysts by FactSet produced consensus estimates of GAAP earnings of 92 cents a share, or an adjusted $2.03, on revenue of $25.57 billion.

At last check shares of the Round Rock Texas company were trading off 1.9% at $99.60. They finished regular Thursday trading off 0.5% at $101.55.

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The stock touched a 52-week high $104.62 on June 10. In 2021 through the close of regular Thursday trading, the stock had been up 39%.

The client solutions group, which includes computers, posted operating earnings of $995 million, up 39% from a year earlier, on revenue of $14.3 billion, up 27%.

Within this division, commercial clients accounted for $10.6 billion of revenue and consumers $3.7 billion.

The infrastructure solutions division posted operating earnings of $970 million on revenue of $8.4 billion. Within the group, servers and networking accounted for $4.5 billion of revenue and storage for $4 billion.

And the VMware division's operating earnings were $849 million on revenue of $3.1 billion.