Dell Technologies Q3 revenue falls short of estimates as weak PC demand weighs

Investing.comNov 27, 2024 12:48 AM

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Investing.com -- Dell Technologies reported Tuesday third second-quarter results as earnings beat, but revenue fell short of Wall Street estimates as strength in AI-related growth was offset by soft PC demand.

Dell Technologies Inc (NYSE:DELL) was down 5% in afterhours trading following the report.

The company reported Q3 adjusted EPS of $2.15 on revenue of $24.4 billion, compared with estimates for $2.06 per share and $24.69B, respectively.

Revenue was hurt by by a performance in the company’s client solutions group, which includes PCs and laptops, saw revenue fall 1% to $12.1B year-on-year in Q3.

The infrastructure solutions group saw revenue jumped 34% YoY in Q3, driven by strong AI-related demand.

Consumer revenue fell down 18% to $2B.

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