Company news: Dell Technologies (DELL) quarterly results beat analysts’ forecasts

Dell Technologies (DELL) reported Q4 FY2023 earnings of $1.80 per share (versus $1.72 per share in Q4 FY2022), beating analysts’ consensus estimate of $1.64 per share.

The company’s quarterly revenues amounted to $25.039 bln (-10.6% y/y), beating analysts’ consensus estimate of $23.507 bln.

The company issued downside guidance for FY2024, seeing EPS of $5.00-5.60 versus analysts’ consensus estimate of $6.29 and revenues of down 12-18% y/y, implying $83.89-90.02 bln versus analysts’ consensus estimate of $91.02 bln.

Also, Dell announced a 12% increase in its annual cash dividend to $1.48/share.

DELL fell to $38.70 (-3.66%) in pre-market trading.