Dell's Data Center Business registers slowest 4th Quarter revenue
By MYBRANDBOOK
Dell Technologies Inc has registered its slowest quarterly revenue growth since its return to the public market. The company got affected due to its weakness in its data centre business and said it plans to buy back up to $1 billion worth of shares.
Dell returned to the market after a break of six years in December 2018, said that its revenue grew nearly 1% to $24.03 billion (18.64 billion pounds), largely in line with estimates of $24 billion, according to IBES data from Refinitiv.
Dell had flagged concerns of weakness in its data centre business in the third quarter, saying that demand will "remain challenged".
Revenue from the company's infrastructure solutions group, that houses its data centre business, fell more than 11% to $8.76 billion in the fourth quarter ended Jan. 31, missing estimates of $9.61 billion.
In December, the company said due to trade restrictions there is a slow demand in China and it will continue to impact its results into fiscal 2021.
Client solutions group, which includes desktop PCs, notebooks and tablets, reported an 8% rise in revenue to $11.77 billion while sales in its unit VMware rose about 12% to $3.13 billion.
Texas-based Dell reported a net income attributable to the company of $408 million in the fourth quarter, compared with a loss of $299 million a year earlier.
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