Dell Technologies Inc. DELL shares are witnessing a meteoric surge on Friday.
In the past year, the company’s shares have skyrocketed by over 200%, far outpacing the broader S&P 500’s modest 30% return.
The collaboration between Dell and Subaru Corporation has sparked excitement, focusing on enhancing driver safety by blending AI innovations with high-performance storage capabilities.
Moreover, Dell’s robust quarterly earnings report revealed earnings of $2.20 per share, surpassing analyst expectations by an impressive 27.17%.
Quarterly sales exceeded predictions, reaching $22.3 billion, while operating income surged by 25% to an impressive $1.491 billion.
The Infrastructure Solutions Group (ISG) at Dell generated fourth-quarter revenue of $9.3 billion, down 6% year-over-year.
Conversely, the Client Solutions Group (CSG) recorded fourth-quarter revenue of $11.7 billion, marking a 12% decline compared to the previous year.
Dell’s expansion in the AI server market witnessed significant traction, with reported revenue of $4.9 billion in servers and networking, primarily driven by AI-optimized servers.
In an investor-friendly move, Dell announced a staggering 20% increase in its annual cash dividend to $1.78 per common share, with the first quarterly distribution of $0.445 per common share scheduled for May 3 for shareholders on record as of April 23.
Price Action: DELL shares are currently trading 29.60% higher at $122.65 during Friday’s session.
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