Dell Technologies (DELL) shares rallied sharply after the computer and server maker topped Wall Street’s expectations and raised its full-year outlook.
Dell reported adjusted earnings of $7.04 per share, well above Wall Street’s $4.92 estimate. Revenue reached $46.97 billion, topping expectations of $44.92 billion and rising about 58% from a year earlier. Shares surged 15% on Sep. 2 and gained another 4.9% on Sep. 3.
The company also issued guidance well above Wall Street expectations. Dell expects fiscal third-quarter adjusted earnings of $6.50 per share on revenue of $49 billion. Analysts surveyed by LSEG had expected earnings of $4.49 per share on $41.42 billion in revenue, CNBC reported.
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