Dell announces Q4 2023 results

Dell, a multinational technology company, has announced its fourth-quarter and full-year performance reports for the 2023 fiscal year. The company's fourth-quarter revenue was $25 billion, a decrease of 11% year-on-year. Operating profit was $1.2 billion, while non-GAAP operating profit was $2.2 billion. The net profit from continuing operations in this fiscal quarter was $606 million. The company reported annual revenue of $102.3 billion, an increase of 1% year-on-year, while operating profit is $5.8 billion, an increase of 24% year-on-year. The annual net profit from continuing operations was $2.4 billion, while non-GAAP net profit was $5.7 billion.

Returned $3.8 billion to shareholders during the fiscal year through share repurchases and dividends. Dell will increase its annual cash dividend by 12 percent to $1.48 per common share, and will distribute the first quarter common stock dividend of $0.37 per common share on May 5 to all shareholders of record prior to April 25.

Infrastructure Solutions Group (ISG) reported annual revenue of $38.4 billion, up 12% year-on-year, and operating profit of a record $5 billion, up 35% year-on-year. Revenue for the fiscal fourth quarter was $9.9 billion, up 7% year-over-year. The Client Solutions Group (CSG) reported full-year revenue of $58.2 billion, a year-on-year decrease of 5%, and operating profit was $3.8 billion, a year-on-year decrease of 12%. Fourth-quarter revenue was $13.4 billion, down 23% year-over-year.

Dell has launched a new PowerEdge server, designed to improve energy and cost efficiency across data centers, large-scale public clouds, telecom and edge locations. Dell expands its technology ecosystem and solutions, including the launch of Dell Telecom Infrastructure Blocks for Red Hat, to accelerate the adoption of open cloud-native technologies in the telecom industry. Dell has also launched products for the hybrid office, including the UltraSharp 6K monitor and the Dell Premier Collaborative Keyboard.

"In fiscal 2023, we accelerated innovation, drove market share gains and delivered strong profitability in a challenging environment," said Chuck Whitten, co-chief operating officer of Dell Technologies. "The long-term trend is in our favor, and as data grows exponentially, we will continue to help customers simplify and cope with hybrid office, multi-cloud and edge complexity."

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