Dell Technologies Stock Soars After Q4 Earnings Beat

Shares Jump 18% in Extended Trading

Company Raises Guidance for Fiscal Year 2024

Round Rock, Texas - Dell Technologies Inc. (NYSE: DELL) reported impressive financial results for the fourth quarter of fiscal year 2023, sending its stock price soaring in extended trading on Thursday.

The technology giant reported earnings per share of $1.53, exceeding analysts' estimates of $1.33. Revenue also beat expectations, coming in at $25.3 billion compared to the consensus forecast of $24.7 billion.

Dell Technologies attributed the strong performance to continued growth in its Infrastructure Solutions Group (ISG), which includes its server, storage, and networking businesses. The company also highlighted its expanding presence in the telecommunications and edge computing markets.

Based on these positive results, Dell Technologies raised its guidance for fiscal year 2024. The company now expects earnings per share in the range of $5.60 to $5.80, up from its previous forecast of $5.40 to $5.60.

Analysts and investors reacted enthusiastically to the news. Shares of Dell Technologies jumped by more than 18% in extended trading, reaching $44.20 per share.

The company's stock has been on a steady upward trajectory in recent months, reflecting investors' optimism about its growth prospects. Despite the broader market downturn, Dell Technologies has consistently outperformed its peers in the technology sector.

With its strong track record, expanding product portfolio, and raised guidance, Dell Technologies is well-positioned to continue its growth trajectory in the coming years. The company's shares are currently trading at an attractive valuation, making them an appealing investment for both short-term and long-term investors.