Dell’s Fiscal 2024 Results: 4th Quarter and Full Year Success

TLDR:

• Dell Technologies reported fourth quarter revenue of $22.3 billion and full-year revenue of $88.4 billion.
• Full-year operating income was $5.2 billion and non-GAAP operating income was $7.7 billion.

In the fourth quarter of fiscal 2024, Dell Technologies announced revenue of $22.3 billion, a decrease of 11% compared to the previous year. Operating income was $1.5 billion, with non-GAAP operating income at $2.1 billion. Full-year revenue was $88.4 billion, down 14% year-over-year, with operating income at $5.2 billion and non-GAAP operating income at $7.7 billion.

The Infrastructure Solutions Group (ISG) delivered fourth quarter revenue of $9.3 billion, up 10% sequentially, with Servers and networking revenue at $4.9 billion and Storage revenue at $4.5 billion. The Client Solutions Group (CSG) reported fourth quarter revenue of $11.7 billion, down 5% sequentially.

Dell is increasing its annual cash dividend by 20% to $1.78 per common share. The company is optimistic about fiscal year 2025, emphasizing its ability to generate strong cash flow. Dell continues to expand its portfolio to meet customer requirements across clouds, on premises, and at the edge.