Dell Technologies Delivers Third Quarter Fiscal 2024 Financial Results
Dell News, Thursday, November 30,2023
Third quarter revenue of $22.3 billion; Operating income of $1.5 billion and non-GAAP operating income of $2 billion; Diluted earnings per share of $1.36, and non-GAAP diluted earnings per share of $1.88
Dell Technologies (NYSE: DELL) announces financial results for its fiscal 2024 third quarter. Revenue was $22.3 billion, down 10% year-over-year. The company generated operating income of $1.5 billion and non-GAAP operating income of $2 billion, down 16% and 17% year-over-year, respectively. Diluted earnings per share was $1.36, and non-GAAP diluted earnings per share was $1.88. Cash flow from operations for the third quarter was $2.2 billion, driven by profitability and strong working capital performance. The company has generated $9.9 billion of cash flow from operations throughout the last 12 months.
Dell ended the quarter with remaining performance obligations of $39 billion, recurring revenue of $5.6 billion, up 4% year-over-year, and deferred revenue of $29.1 billion, up 7% year-over-year, primarily due to increases in software and hardware maintenance agreements. The company's cash and investment balance was $9.9 billion.