Shares of Dell (NYSE:DELL) gained in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2023. Earnings per share came in at $1.80, which beat analysts’ consensus estimate of $1.64 per share. Sales decreased by 10.6% year-over-year, with revenue hitting $25.04 billion. This beat analysts’ expectations of $23.51 billion.
Several segments offered gains for Dell. Infrastructure, for example, brought in $9.9 billion itself, which was up 7% against the same time last year. Servers and networking also contributed heavily, up 5% to reach $4.9 billion. Storage revenue proved the big winner, as it increased by 10% to hit $5 billion. However, not every segment did so well. Client solutions, for example, brought in $13.4 billion. That was down 23% year-over-year. Commercial revenue, meanwhile, came in at $10.7 billion, and consumer revenue realized $2.7 billion.
In a move stockholders will no doubt welcome, Dell hiked its dividend by 12%, hitting $1.48 per share.
Overall, Wall Street has a consensus price target of $53 on Dell, implying 31.92% upside potential, as indicated by the graphic above.
