financetom
Business
financetom
/
Business
/
Dell beats second-quarter revenue estimates on strong AI server demand
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Dell beats second-quarter revenue estimates on strong AI server demand
Aug 31, 2024 8:15 AM

Aug 29 (Reuters) - Dell Technologies ( DELL ) beat Wall

Street estimates for second-quarter revenue on Thursday, driven

by strong demand for its AI-powered servers amid a recovering

personal computer market.

Shares of the Round Rock, Texas-based company rose

nearly 4% in extended trading.

Dell has capitalized on increasing demand for its AI

servers, which are powered by Nvidia's ( NVDA ) graphics

processors. These servers are designed to meet the growing

computing needs of AI systems, including training language

models.

Revenue for the second-quarter ended Aug 2 rose about 9% to

$25.03 billion, beating analysts' average estimate of $24.53

billion, according to LSEG data.

"AI-optimized server demand was $3.2 billion, up 23%

sequentially, and $5.8 billion year to date. Backlog was $3.8

billion, and our pipeline has grown to several multiples of our

backlog," Chief Operating Officer Jeff Clarke said in a

statement.

Dell's revenue for the infrastructure solutions group, which

includes its storage, software and server offerings, rose about

38% to a record $11.65 billion. In contrast, revenue for the

client solutions group - home to PCs - fell about 4% to $12.41

billion.

The global PC market continued to recover in the second

quarter, with total shipments rising 3.4% from a year earlier to

62.8 million units, according to research firm Canalys.

The results come after a Reuters exclusive report that said

Dell is again exploring a possible sale of cybersecurity firm

SecureWorks ( SCWX ), following previous unsuccessful attempts

to find a buyer.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Starbucks expects non-binding bids for China business within two weeks, sources say
Starbucks expects non-binding bids for China business within two weeks, sources say
Aug 22, 2025
HONG KONG (Reuters) -Starbucks ( SBUX ) has asked a short-listed group of potential bidders to submit non-binding bids for a stake in its China business within the next two weeks, two people with knowledge of the matter said. The U.S. coffee shop chain invited interested parties including private equity firms Carlyle, EQT, Hillhouse Investment and Primavera Capital to attend...
Aptorum Group Stock Sinks After Hours Following 235% Thursday Surge
Aptorum Group Stock Sinks After Hours Following 235% Thursday Surge
Aug 22, 2025
Aptorum Group Limited ( APM ) shares declined 33.18% to $2.84 in after-hours trading session on Friday following Thursday’s explosive 234.65% rally. According to Benzinga Pro data, Aptorum ( APM ) closed the regular trading session at $4.25. Check out the current price of APM stock here.  DiamiR Test Approval Drives Rally DiamiR Biosciences Corp., Aptorum’s merger partner, secured Clinical...
Procore Technologies Insider Sold Shares Worth $1,008,681, According to a Recent SEC Filing
Procore Technologies Insider Sold Shares Worth $1,008,681, According to a Recent SEC Filing
Aug 22, 2025
03:24 AM EDT, 08/22/2025 (MT Newswires) -- Kevin J O Connor, Director, on August 19, 2025, sold 15,384 shares in Procore Technologies ( PCOR ) for $1,008,681. Following the Form 4 filing with the SEC, O Connor has control over a total of 1,155,345 common shares of the company, with 16,632 shares held directly and 1,138,713 controlled indirectly. SEC Filing:...
Starbucks expects non-binding bids for China business within two weeks, sources say
Starbucks expects non-binding bids for China business within two weeks, sources say
Aug 22, 2025
* Starbucks ( SBUX ) aims to finalise sale by year-end, sources say * Primavera, Carlyle, Hillhouse, EQT, may bid, sources say * China market share was 14% in 2024 versus 34% in 2019 * Cafe chain faces sluggish economy, rapid growth of local rivals By Kane Wu and Julie Zhu HONG KONG, Aug 22 (Reuters) - Starbucks ( SBUX...
Copyright 2023-2026 - www.financetom.com All Rights Reserved