Daily Management Review

Dell Technologies earns $ 22.8 bln in revenue, $ 552 mln in net profit in Q3


Dell Technologies has released its latest quarterly report for recently ended the third quarter of fiscal year 2020.

Jerry Luo via flickr
Jerry Luo via flickr
For the quarter, the company received revenue of $ 22.8 billion. This is 2% more than the income for the third quarter of the previous financial year. A year ago, the company suffered operating losses of $ 356 million, which this time gave way to operating profit of $ 836 million. The quarter resulted in a net profit of $ 552 million.

For non-GAAP calculations, revenue is $ 22.9 billion, up 1% from a year ago. Operating profit increases to $ 2.4 billion, up 18% year on year. Finally, net profit for the quarter amounted to $ 1.4 billion, which corresponds to an increase of 6.3% in annual terms.

The large difference in the figures calculated using the two methods is explained by the consideration of payments under the transaction with EMC. During the quarter, Dell Technologies paid off approximately $ 1.1 billion of debt, and approximately $ 3.5 billion over the past year. In total, more than $ 18 billion of debt has already been paid in the three years since the conclusion of the transaction. According to the schedule, the company should pay $ 5 billion in the fiscal year 2020.

source: bloomberg.com