11/30/2023, 10:08 PM (Source: TeleTrader)
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Dell's Q3 net revenue down 10% to $22.3B

Dell Technologies announced Thursday that its net revenue in the three months leading up to November 3 fell 10% year-on-year to $22.3 billion.

With an operating income of $1.5 billion, the company declared net income climbed 317% to $1 billion, and diluted earnings per share skyrocketed 312% to $1.36. The report also mentions that the Dell Generative AI Solutions portfolio was enhanced with new local offerings that simplify GenAI deployments.

"Our long-term financial framework and capital allocation plan continue to deliver results, with $1 billion returned to shareholders in the third quarter through share repurchases and dividends." Yvonne McGill, chief financial officer of Dell Technologies, said.

Following the release of the results, the company's shares fell 3.17% in after-hours trading in New York.

Baha Breaking News (BBN) / JG