Dell Technologies Inc. (DELL, +0.99%) experienced a surge of 10% in aftermarket trading on Thursday following an impressive performance in both profit and revenue. The company reported a net income of $455 million, or 63 cents per share, for the fiscal second quarter. This exceeded the $506 million, or 68 cents per share, recorded during the same period last year. Adjusted earnings also showed an increase, rising to $1.74 per share compared to $1.68 per share the previous year. Analysts, tracked by FactSet, had anticipated earnings of $1.14 per share.
Although revenue declined from $26.4 billion to $22.9 billion, it still surpassed analysts' expectations of $20.9 billion. Despite this decline, Dell remains focused on capitalizing on the most profitable segments of the market where they have established a leading position. Chief Operating Officer Jeff Clarke announced that demand for Dell's proprietary software-defined storage solution has increased for eight consecutive quarters. Additionally, the company is optimistic about the long-term growth potential of artificial intelligence (AI) and continues to experience demand growth across their portfolio.
Dell Technologies Inc.'s strong performance and strategic focus demonstrate their commitment to delivering value to shareholders and capitalizing on emerging market trends. With a successful track record and a continuous drive for innovation, the company remains well-positioned for future growth and profitability.