Dell Technologies Delivers Fourth Quarter and Full-Year Fiscal 2022 Financial Results | Dell Technologies
News summary
- Record full-year revenue of
$101.2 billion , up 17%, fueled by continued growth across all business units and record PC shipments - Record full-year diluted earnings per share of
$6.26 , up 114%, and non-GAAP diluted earnings per share of$6.22 , up 27% - Announcing a quarterly cash dividend policy, with an initial quarterly dividend of
$0.33 per share and expected aggregate fiscal 2023 dividends of approximately$1 billion
Full story
Full-year revenue was a record
Fourth quarter revenue increased 16% to
Fourth Quarter and Full-Year Fiscal 2022 Financial Results
Three Months Ended |
Fiscal Year Ended |
||||||||||
|
|
Change |
|
|
Change |
||||||
(in millions, except per share amounts and percentages; unaudited) |
|||||||||||
Total net revenue |
$ 27,992 |
$ 24,150 |
16% |
$ 101,197 |
$ 86,670 |
17% |
|||||
Operating income |
$ 1,609 |
$ 1,423 |
13% |
$ 4,659 |
$ 3,685 |
26% |
|||||
Net income (loss) from continuing operations |
$ (29) |
$ 695 |
(104)% |
$ 4,942 |
$ 2,245 |
120% |
|||||
Earnings (loss) per share from continuing operations attributable to |
$ (0.04) |
$ 0.90 |
(104)% |
$ 6.26 |
$ 2.93 |
114% |
|||||
Non-GAAP net revenue |
$ 28,000 |
$ 24,176 |
16% |
$ 101,229 |
$ 86,776 |
17% |
|||||
Non-GAAP operating income |
$ 2,191 |
$ 2,170 |
1% |
$ 7,785 |
$ 6,949 |
12% |
|||||
Non-GAAP net income |
$ 1,390 |
$ 1,362 |
2% |
$ 4,924 |
$ 3,746 |
31% |
|||||
Adjusted EBITDA |
$ 2,686 |
$ 2,620 |
3% |
$ 9,660 |
$ 8,645 |
12% |
|||||
Non-GAAP earnings per share – diluted |
$ 1.72 |
$ 1.76 |
(2)% |
$ 6.22 |
$ 4.88 |
27% |
Information about
Operating segments summary
Client Solutions Group delivered record results, with revenue for the fourth quarter of
Key areas of innovation:
- Won 47 awards at CES, where Dell introduced the new XPS 13 Plus – a completely redesigned XPS that brings together modern design with more performance.
- Introduced the world’s thinnest gaming laptop (
Alienware x14), the world’s first quantum dot OLED gaming monitor (Alienware 34 Curved QD-OLED gaming monitor) and the most powerful 17-inch AMD Advantage gaming laptop. - Launched the latest UltraSharp video conferencing monitor, which features a 4K webcam, echo cancelling microphones and Microsoft Teams certification to provide the best collaboration and visual experience possible.
- Introduced Concept Luna, an advanced commercial notebook concept built around sustainability, recyclability and reuse.
Infrastructure Solutions Group revenue for the fourth quarter was
Key areas of innovation:
- Announced expansions to our APEX multi-cloud capabilities, enabling customers to move from multi-cloud by default to multi-cloud by design, as well as connect to multiple clouds without hyperscale lock-in.
- Introduced Dell PowerProtect Cyber Recovery for AWS (
Amazon Web Services ), giving organizations modern data protection to isolate critical data from a ransomware attack and accelerate data recovery.
Executive Quotes:
- “Fiscal 2022 was the best year in
Dell Technologies history. We reached more than$100 billion in revenue and grew 17% – a huge achievement and ahead of our long-term growth targets,” saidJeff Clarke , vice chairman and co-chief operating officer,Dell Technologies . “For our customers, the biggest opportunity is to turn data into insight, action and progress, and they are prioritizing investments in technology.” - “In FY22, widespread digital transformation continued to accelerate growth in technology spend, and we are encouraged by growing demand across our entire portfolio,” said
Chuck Whitten , co-chief operating officer,Dell Technologies . “We also made strategic progress across multi-cloud, edge, as-a-Service and telecom. We launched solutions in these spaces, engaged customers, and made investments to position Dell for future growth.” - “Last year we achieved a number of milestones that unleashed shareholder value. We generated cash flow of
$10.3 billion , achieved investment grade rating and spun-offVMware ,” saidTom Sweet , chief financial officer,Dell Technologies . “We remain focused on executing our strategy to consolidate and modernize our core and build new growth engines that enable our customers’ multi-cloud future while delivering shareholder value.”
Join us
Conference call information
As previously announced, the Company will hold a conference call to discuss its fiscal 2022 fourth quarter and full-year performance and financial guidance,
https://investors.delltechnologies.com/events-and-presentations/upcoming-events
For those unable to listen to the live broadcast, an archived version will be available at the same location for one year.
Additional financial and operating information may be downloaded from
https://investors.delltechnologies.com/financial-information/quarterly-results
Customer Highlights Blog
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About
Copyright © 2022 Dell Inc. or its subsidiaries. All Rights Reserved.
Non-GAAP Financial Measures:
This press release presents information about
Special Note on Forward-Looking Statements:
Statements in this press release that relate to future results and events are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933 and are based on
This list of risks, uncertainties, and other factors is not complete.
Basis of Presentation
Spin-Off of
In accordance with applicable accounting guidance, the results of
Consolidated Statements of Income and Related Financial Highlights (in millions, except percentages; unaudited) |
|||||||||||
Three Months Ended |
Fiscal Year Ended |
||||||||||
|
|
Change |
|
|
Change |
||||||
Net revenue: |
|||||||||||
Products |
$ 22,469 |
$ 19,167 |
17% |
$ 79,830 |
$ 67,744 |
18% |
|||||
Services |
5,523 |
4,983 |
11% |
21,367 |
18,926 |
13% |
|||||
Total net revenue |
27,992 |
24,150 |
16% |
101,197 |
86,670 |
17% |
|||||
Cost of net revenue: |
|||||||||||
Products |
19,265 |
15,879 |
21% |
67,224 |
56,431 |
19% |
|||||
Services |
3,109 |
2,747 |
13% |
12,082 |
10,099 |
20% |
|||||
Total cost of net revenue |
22,374 |
18,626 |
20% |
79,306 |
66,530 |
19% |
|||||
Gross margin |
5,618 |
5,524 |
2% |
21,891 |
20,140 |
9% |
|||||
Operating expenses: |
|||||||||||
Selling, general, and administrative |
3,398 |
3,467 |
(2)% |
14,655 |
14,000 |
5% |
|||||
Research and development |
611 |
634 |
(4)% |
2,577 |
2,455 |
5% |
|||||
Total operating expenses |
4,009 |
4,101 |
(2)% |
17,232 |
16,455 |
5% |
|||||
Operating income |
1,609 |
1,423 |
13% |
4,659 |
3,685 |
26% |
|||||
Interest and other, net |
(1,657) |
(475) |
(249)% |
1,264 |
(1,339) |
194% |
|||||
Income (loss) before income taxes |
(48) |
948 |
(105)% |
5,923 |
2,346 |
152% |
|||||
Income tax expense (benefit) |
(19) |
253 |
(108)% |
981 |
101 |
871% |
|||||
Net income (loss) from continuing operations |
(29) |
695 |
(104)% |
4,942 |
2,245 |
120% |
|||||
Income from discontinued operations, net of income taxes |
30 |
648 |
(95)% |
765 |
1,260 |
(39)% |
|||||
Net income |
1 |
1,343 |
(100)% |
5,707 |
3,505 |
63% |
|||||
Less: Net loss attributable to non-controlling interests |
(1) |
(2) |
50% |
(6) |
(4) |
(50)% |
|||||
Less: Net income attributable to non-controlling interests of discontinued operations |
— |
118 |
(100)% |
150 |
259 |
(42)% |
|||||
Net income attributable to |
$ 2 |
$ 1,227 |
(100)% |
$ 5,563 |
$ 3,250 |
71% |
|||||
Percentage of Total Net Revenue: |
|||||||||||
Gross margin |
20 % |
23 % |
22 % |
23 % |
|||||||
Selling, general, and administrative |
12 % |
14 % |
14 % |
16 % |
|||||||
Research and development |
2 % |
3 % |
3 % |
3 % |
|||||||
Operating expenses |
14 % |
17 % |
17 % |
19 % |
|||||||
Operating income |
6 % |
6 % |
5 % |
4 % |
|||||||
Income (loss) from continuing operations before income taxes |
— % |
4 % |
6 % |
3 % |
|||||||
Net income (loss) from continuing operations |
— % |
3 % |
5 % |
3 % |
|||||||
Income tax rate |
39.6 % |
26.7 % |
16.6 % |
4.3 % |
|||||||
Amounts are based on underlying data and may not visually foot due to rounding. |
Consolidated Statements of Financial Position (in millions; unaudited) |
|||
|
|
||
ASSETS |
|||
Current assets: |
|||
Cash and cash equivalents |
$ 9,477 |
$ 9,508 |
|
Accounts receivable, net |
12,912 |
10,731 |
|
Short-term financing receivables, net |
5,089 |
5,148 |
|
Inventories, net |
5,898 |
3,403 |
|
Other current assets |
11,581 |
9,810 |
|
Current assets of discontinued operations |
— |
4,967 |
|
Total current assets |
44,957 |
43,567 |
|
Property, plant, and equipment, net |
5,415 |
4,833 |
|
Long-term investments |
1,839 |
1,334 |
|
Long-term financing receivables, net |
5,522 |
5,339 |
|
|
19,770 |
20,028 |
|
Intangible assets, net |
7,461 |
9,115 |
|
Other non-current assets |
7,695 |
7,184 |
|
Non-current assets of discontinued operations |
— |
32,015 |
|
Total assets |
$ 92,659 |
$ 123,415 |
|
LIABILITIES, REDEEMABLE SHARES, AND STOCKHOLDERS’ EQUITY |
|||
Current liabilities: |
|||
Short-term debt |
$ 5,823 |
$ 6,357 |
|
Accounts payable |
27,143 |
21,572 |
|
Due to related parties, net |
1,338 |
1,346 |
|
Accrued and other |
7,578 |
7,166 |
|
Short-term deferred revenue |
14,261 |
13,201 |
|
Current liabilities of discontinued operations |
— |
4,490 |
|
Total current liabilities |
56,143 |
54,132 |
|
Long-term debt |
21,131 |
32,865 |
|
Long-term deferred revenue |
13,312 |
12,391 |
|
Other non-current liabilities |
3,653 |
3,923 |
|
Non-current liabilities of discontinued operations |
— |
12,079 |
|
Total liabilities |
94,239 |
115,390 |
|
Redeemable shares |
— |
472 |
|
Stockholders’ equity: |
|||
|
(1,685) |
2,479 |
|
Non-controlling interests |
105 |
96 |
|
Non-controlling interests of discontinued operations |
— |
4,978 |
|
Total stockholders’ equity (deficit) |
(1,580) |
7,553 |
|
Total liabilities, redeemable shares, and stockholders’ equity |
$ 92,659 |
$ 123,415 |
Consolidated Statements of Cash Flows (in millions; unaudited) |
|||||||||
Three Months Ended |
Fiscal Year Ended |
||||||||
|
|
|
|
||||||
Cash flows from operating activities: |
|||||||||
Net income |
$ 1 |
$ 1,343 |
$ 5,707 |
$ 3,505 |
|||||
Adjustments to reconcile net income to net cash provided by operating activities |
3,092 |
4,534 |
4,600 |
7,902 |
|||||
Change in cash from operating activities |
3,093 |
5,877 |
10,307 |
11,407 |
|||||
Cash flows from investing activities: |
|||||||||
Purchases of investments |
(94) |
(42) |
(414) |
(338) |
|||||
Maturities and sales of investments |
59 |
71 |
513 |
169 |
|||||
Capital expenditures and capitalized software development costs |
(740) |
(498) |
(2,796) |
(2,082) |
|||||
Acquisition of businesses and assets, net |
— |
(19) |
(16) |
(424) |
|||||
Divestitures of businesses and assets, net |
— |
— |
3,957 |
2,187 |
|||||
Other |
28 |
2 |
62 |
28 |
|||||
Change in cash from investing activities |
(747) |
(486) |
1,306 |
(460) |
|||||
Cash flows from financing activities: |
|||||||||
Dividends paid by |
(2,240) |
— |
(2,240) |
— |
|||||
Proceeds from the issuance of common stock |
8 |
63 |
334 |
452 |
|||||
Repurchases of parent common stock (a) |
(628) |
(1) |
(663) |
(241) |
|||||
Repurchases of subsidiary common stock (a) |
(1) |
(473) |
(1,175) |
(1,363) |
|||||
Proceeds from debt |
7,388 |
1,619 |
20,425 |
16,391 |
|||||
Repayments of debt |
(13,654) |
(3,675) |
(26,723) |
(20,919) |
|||||
Net transfer of cash, cash equivalents, and restricted cash to |
(5,052) |
— |
(5,052) |
— |
|||||
Debt related costs and other, net |
(1,402) |
— |
(1,515) |
(270) |
|||||
Change in cash from financing activities |
(15,581) |
(2,467) |
(16,609) |
(5,950) |
|||||
Effect of exchange rate changes on cash, cash equivalents, and restricted cash |
(52) |
103 |
(106) |
36 |
|||||
Change in cash, cash equivalents, and restricted cash |
(13,287) |
3,027 |
(5,102) |
5,033 |
|||||
Cash, cash equivalents, and restricted cash at beginning of the period, including cash attributable to discontinued operations |
23,369 |
12,157 |
15,184 |
10,151 |
|||||
Cash, cash equivalents, and restricted cash at end of the period, including cash attributable to discontinued operations |
$ 10,082 |
$ 15,184 |
$ 10,082 |
$ 15,184 |
|||||
(a) Common stock repurchases are inclusive of employee tax withholding on stock-based compensation. |
Segment Information (in millions, except percentages; unaudited; continued on next page) |
|||||||||||
Three Months Ended |
Fiscal Year Ended |
||||||||||
|
|
Change |
|
|
Change |
||||||
Infrastructure Solutions Group (ISG): |
|||||||||||
Net Revenue: |
|||||||||||
Servers and networking |
$ 4,720 |
$ 4,405 |
7% |
$ 17,901 |
$ 16,592 |
8% |
|||||
Storage |
4,499 |
4,510 |
—% |
16,465 |
16,410 |
—% |
|||||
Total ISG net revenue |
$ 9,219 |
$ 8,915 |
3% |
$ 34,366 |
$ 33,002 |
4% |
|||||
Operating Income: |
|||||||||||
ISG operating income |
$ 1,102 |
$ 1,183 |
(7)% |
$ 3,736 |
$ 3,753 |
—% |
|||||
% of ISG net revenue |
12% |
13% |
11% |
11% |
|||||||
% of total reportable segment operating income |
49% |
53% |
46% |
53% |
|||||||
Client Solutions Group (CSG): |
|||||||||||
Net Revenue: |
|||||||||||
Commercial |
$ 12,891 |
$ 9,946 |
30% |
$ 45,576 |
$ 35,423 |
29% |
|||||
Consumer |
4,438 |
3,824 |
16% |
15,888 |
12,964 |
23% |
|||||
Total CSG net revenue |
$ 17,329 |
$ 13,770 |
26% |
$ 61,464 |
$ 48,387 |
27% |
|||||
Operating Income: |
|||||||||||
CSG operating income |
$ 1,157 |
$ 1,040 |
11% |
$ 4,365 |
$ 3,333 |
31% |
|||||
% of CSG net revenue |
7 % |
8 % |
7% |
7% |
|||||||
% of total reportable segment operating income |
51% |
47% |
54% |
47% |
|||||||
Amounts are based on underlying data and may not visually foot due to rounding. |
Segment Information (in millions, except percentages; unaudited; continued) |
|||||||
Three Months Ended |
Fiscal Year Ended |
||||||
|
|
|
|
||||
Reconciliation to consolidated net revenue: |
|||||||
Reportable segment net revenue |
$ 26,548 |
$ 22,685 |
$ 95,830 |
$ 81,389 |
|||
Other businesses (a) |
1,448 |
1,488 |
5,388 |
5,382 |
|||
Unallocated transactions (b) |
4 |
3 |
11 |
5 |
|||
Impact of purchase accounting (c) |
(8) |
(26) |
(32) |
(106) |
|||
Total consolidated net revenue |
$ 27,992 |
$ 24,150 |
$ 101,197 |
$ 86,670 |
|||
Reconciliation to consolidated operating income: |
|||||||
Reportable segment operating income |
$ 2,259 |
$ 2,223 |
$ 8,101 |
$ 7,086 |
|||
Other businesses (a) |
(71) |
(56) |
(319) |
(139) |
|||
Unallocated transactions (b) |
3 |
3 |
3 |
2 |
|||
Impact of purchase accounting (c) |
(20) |
(36) |
(67) |
(144) |
|||
Amortization of intangibles |
(323) |
(527) |
(1,641) |
(2,133) |
|||
Transaction-related expenses (d) |
22 |
(19) |
(273) |
(124) |
|||
Stock-based compensation expense (e) |
(216) |
(137) |
(808) |
(487) |
|||
Other corporate expenses (f) |
(45) |
(28) |
(337) |
(376) |
|||
Total consolidated operating income |
$ 1,609 |
$ 1,423 |
$ 4,659 |
$ 3,685 |
(a) |
Other businesses consists of: 1) Dell’s resale of standalone |
|||||||||
(b) |
Unallocated transactions includes other corporate items that are not allocated to |
|||||||||
(c) |
Impact of purchase accounting includes non-cash purchase accounting adjustments that are primarily related to the |
|||||||||
(d) |
Transaction-related expenses includes acquisition, integration, and divestiture related costs. |
|||||||||
(e) |
Stock-based compensation expense consists of equity awards granted based on the estimated fair value of those awards at grant date. |
|||||||||
(f) |
Other corporate expenses includes impairment charges, incentive charges related to equity investments, severance, facilities action, and other costs. |
SUPPLEMENTAL SELECTED NON-GAAP FINANCIAL MEASURES
These tables present information about the Company’s non-GAAP net revenue, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP net income attributable to
|
|||||||||||
Three Months Ended |
Fiscal Year Ended |
||||||||||
|
|
Change |
|
|
Change |
||||||
Non-GAAP net revenue |
$ 28,000 |
$ 24,176 |
16% |
$ 101,229 |
$ 86,776 |
17% |
|||||
Non-GAAP gross margin |
$ 5,818 |
$ 5,791 |
—% |
$ 22,684 |
$ 21,233 |
7% |
|||||
% of non-GAAP net revenue |
21 % |
24 % |
22 % |
24 % |
|||||||
Non-GAAP operating expenses |
$ 3,627 |
$ 3,621 |
—% |
$ 14,899 |
$ 14,284 |
4% |
|||||
% of non-GAAP net revenue |
13 % |
15 % |
15 % |
16 % |
|||||||
Non-GAAP operating income |
$ 2,191 |
$ 2,170 |
1% |
$ 7,785 |
$ 6,949 |
12% |
|||||
% of non-GAAP net revenue |
8 % |
9 % |
8 % |
8 % |
|||||||
Non-GAAP net income |
$ 1,390 |
$ 1,362 |
2% |
$ 4,924 |
$ 3,746 |
31% |
|||||
% of non-GAAP net revenue |
5 % |
6 % |
5 % |
4 % |
|||||||
Adjusted EBITDA |
$ 2,686 |
$ 2,620 |
3% |
$ 9,660 |
$ 8,645 |
12% |
|||||
% of non-GAAP net revenue |
10 % |
11 % |
10 % |
10 % |
|||||||
Non-GAAP earnings per share – diluted |
$ 1.72 |
$ 1.76 |
(2)% |
$ 6.22 |
$ 4.88 |
27% |
|||||
Amounts are based on underlying data and may not visually foot due to rounding. |
|||||||||||
|
|||||||||||
Three Months Ended |
Fiscal Year Ended |
||||||||||
|
|
Change |
|
|
Change |
||||||
Net revenue |
$ 27,992 |
$ 24,150 |
16% |
$ 101,197 |
$ 86,670 |
17% |
|||||
Non-GAAP adjustments: |
|||||||||||
Impact of purchase accounting |
8 |
26 |
32 |
106 |
|||||||
Non-GAAP net revenue |
$ 28,000 |
$ 24,176 |
16% |
$ 101,229 |
$ 86,776 |
17% |
|||||
Gross margin |
$ 5,618 |
$ 5,524 |
2% |
$ 21,891 |
$ 20,140 |
9% |
|||||
Non-GAAP adjustments: |
|||||||||||
Amortization of intangibles |
150 |
213 |
598 |
853 |
|||||||
Impact of purchase accounting |
8 |
25 |
35 |
109 |
|||||||
Stock-based compensation expense |
37 |
22 |
133 |
75 |
|||||||
Other corporate expenses |
5 |
7 |
27 |
56 |
|||||||
Non-GAAP gross margin |
$ 5,818 |
$ 5,791 |
—% |
$ 22,684 |
$ 21,233 |
7% |
|||||
Operating expenses |
$ 4,009 |
$ 4,101 |
(2)% |
$ 17,232 |
$ 16,455 |
5% |
|||||
Non-GAAP adjustments: |
|||||||||||
Amortization of intangibles |
(173) |
(314) |
(1,043) |
(1,280) |
|||||||
Impact of purchase accounting |
(12) |
(11) |
(32) |
(35) |
|||||||
Transaction-related expenses |
22 |
(19) |
(273) |
(124) |
|||||||
Stock-based compensation expense |
(179) |
(115) |
(675) |
(412) |
|||||||
Other corporate expenses |
(40) |
(21) |
(310) |
(320) |
|||||||
Non-GAAP operating expenses |
$ 3,627 |
$ 3,621 |
—% |
$ 14,899 |
$ 14,284 |
4% |
|||||
Operating income |
$ 1,609 |
$ 1,423 |
13% |
$ 4,659 |
$ 3,685 |
26% |
|||||
Non-GAAP adjustments: |
|||||||||||
Amortization of intangibles |
323 |
527 |
1,641 |
2,133 |
|||||||
Impact of purchase accounting |
20 |
36 |
67 |
144 |
|||||||
Transaction-related (income) expenses |
(22) |
19 |
273 |
124 |
|||||||
Stock-based compensation expense |
216 |
137 |
808 |
487 |
|||||||
Other corporate expenses |
45 |
28 |
337 |
376 |
|||||||
Non-GAAP operating income |
$ 2,191 |
$ 2,170 |
1% |
$ 7,785 |
$ 6,949 |
12% |
|||||
|
|||||||||||
Three Months Ended |
Fiscal Year Ended |
||||||||||
|
|
Change |
|
|
Change |
||||||
Net income (loss) from continuing operations |
$ (29) |
$ 695 |
(104)% |
$ 4,942 |
$ 2,245 |
120% |
|||||
Non-GAAP adjustments: |
|||||||||||
Amortization of intangibles |
323 |
527 |
1,641 |
2,133 |
|||||||
Impact of purchase accounting |
20 |
36 |
67 |
144 |
|||||||
Transaction-related (income) expenses |
1,492 |
19 |
(2,143) |
(332) |
|||||||
Stock-based compensation expense |
216 |
137 |
808 |
487 |
|||||||
Other corporate expenses |
45 |
28 |
337 |
268 |
|||||||
Fair value adjustments on equity investments |
(192) |
(16) |
(572) |
(427) |
|||||||
Aggregate adjustment for income taxes |
(485) |
(64) |
(156) |
(772) |
|||||||
Non-GAAP net income |
$ 1,390 |
$ 1,362 |
2% |
$ 4,924 |
$ 3,746 |
31% |
|||||
Net income (loss) from continuing operations attributable to |
$ (28) |
$ 697 |
(104)% |
$ 4,948 |
$ 2,249 |
120% |
|||||
Non-GAAP adjustments: |
|||||||||||
Amortization of intangibles |
323 |
527 |
1,641 |
2,133 |
|||||||
Impact of purchase accounting |
20 |
36 |
67 |
144 |
|||||||
Transaction-related (income) expenses |
1,492 |
19 |
(2,143) |
(332) |
|||||||
Stock-based compensation expense |
216 |
137 |
808 |
487 |
|||||||
Other corporate expenses |
45 |
28 |
337 |
268 |
|||||||
Fair value adjustments on equity investments |
(192) |
(16) |
(572) |
(427) |
|||||||
Aggregate adjustment for income taxes |
(485) |
(64) |
(156) |
(772) |
|||||||
Total non-GAAP adjustments attributable to non-controlling interests |
(1) |
(2) |
(7) |
(6) |
|||||||
Non-GAAP net income attributable to |
$ 1,390 |
$ 1,362 |
2% |
$ 4,923 |
$ 3,744 |
31% |
|||||
Net income (loss) from continuing operations |
$ (29) |
$ 695 |
(104)% |
$ 4,942 |
$ 2,245 |
120% |
|||||
Adjustments: |
|||||||||||
Interest and other, net |
1,657 |
475 |
(1,264) |
1,339 |
|||||||
Income tax expense (benefit) |
(19) |
253 |
981 |
101 |
|||||||
Depreciation and amortization |
830 |
987 |
3,547 |
3,867 |
|||||||
EBITDA |
$ 2,439 |
$ 2,410 |
1% |
$ 8,206 |
$ 7,552 |
9% |
|||||
EBITDA |
$ 2,439 |
$ 2,410 |
1% |
$ 8,206 |
$ 7,552 |
9% |
|||||
Adjustments: |
|||||||||||
Stock-based compensation expense |
216 |
137 |
808 |
487 |
|||||||
Impact of purchase accounting |
8 |
26 |
36 |
106 |
|||||||
Transaction-related (income) expenses |
(22) |
19 |
273 |
124 |
|||||||
Other corporate expenses |
45 |
28 |
337 |
376 |
|||||||
Adjusted EBITDA |
$ 2,686 |
$ 2,620 |
3% |
$ 9,660 |
$ 8,645 |
12% |
|||||
|
|||||||||||
Three Months Ended |
Fiscal Year Ended |
||||||||||
|
|
Change |
|
|
Change |
||||||
Earnings per share from continuing operations attributable to Dell Technologies Inc. |
|||||||||||
Net income (loss) from continuing operations attributable to |
$ (28) |
$ 697 |
$ 4,948 |
$ 2,249 |
|||||||
Weighted-average shares outstanding — basic |
763 |
750 |
762 |
744 |
|||||||
Earnings (loss) per share attributable to |
$ (0.04) |
$ 0.93 |
(104)% |
$ 6.49 |
$ 3.02 |
115% |
|||||
Net income (loss) from continuing operations attributable to |
$ (28) |
$ 697 |
$ 4,948 |
$ 2,249 |
|||||||
Weighted-average shares outstanding — diluted |
763 |
776 |
791 |
767 |
|||||||
Earnings (loss) per share attributable to |
$ (0.04) |
$ 0.90 |
(104)% |
$ 6.26 |
$ 2.93 |
114% |
|||||
Earnings per share from discontinued operations attributable to |
|||||||||||
Net income from discontinued operations attributable to |
$ 30 |
$ 530 |
$ 615 |
$ 1,001 |
|||||||
Weighted-average shares outstanding — basic |
763 |
750 |
762 |
744 |
|||||||
Earnings per share attributable to |
$ 0.04 |
$ 0.71 |
(94)% |
$ 0.81 |
$ 1.35 |
(40)% |
|||||
Incremental dilution from |
— |
(5) |
(7) |
(13) |
|||||||
Net income from discontinued operations attributable to |
$ 30 |
$ 525 |
$ 608 |
$ 988 |
|||||||
Weighted-average shares outstanding — diluted |
763 |
776 |
791 |
767 |
|||||||
Earnings per share attributable to |
$ 0.04 |
$ 0.67 |
(94)% |
$ 0.76 |
$ 1.29 |
(41)% |
|||||
Non-GAAP earnings per share attributable to |
|||||||||||
Non-GAAP net income attributable to |
$ 1,390 |
$ 1,362 |
$ 4,923 |
$ 3,744 |
|||||||
Weighted-average shares outstanding — basic |
763 |
750 |
762 |
744 |
|||||||
Earnings per share attributable to |
$ 1.82 |
$ 1.82 |
—% |
$ 6.46 |
$ 5.03 |
28% |
|||||
Non-GAAP net income attributable to |
$ 1,390 |
$ 1,362 |
$ 4,923 |
$ 3,744 |
|||||||
Weighted-average shares outstanding — diluted |
810 |
776 |
791 |
767 |
|||||||
Earnings per share attributable to |
$ 1.72 |
$ 1.76 |
(2)% |
$ 6.22 |
$ 4.88 |
27% |
|||||
Amounts may not visually recalculate due to rounding. |
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SOURCE
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