Technology
Dell Technologies Delivers Second Quarter Fiscal 2025 Financial Results
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3 weeks agoon
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News summary
Second quarter revenue of $25.0 billion, up 9% year over yearRecord Infrastructure Solutions Group (ISG) revenue of $11.6 billion, up 38% year over year, with record servers and networking revenue of $7.7 billion, up 80%Client Solutions Group (CSG) revenue of $12.4 billion, down 4% year over year, with commercial client revenue flat at $10.6 billionDiluted earnings per share of $1.17, up 86% year over year, and non-GAAP diluted earnings per share of $1.89, up 9%
ROUND ROCK, Texas, Aug. 29, 2024 /PRNewswire/ —
Full story
Dell Technologies (NYSE: DELL) announces financial results for its fiscal 2025 second quarter. Revenue was $25.0 billion, up 9% year over year. Operating income was $1.3 billion and non-GAAP operating income was $2.0 billion, up 15% and 3% year over year, respectively. Diluted earnings per share was $1.17, and non-GAAP diluted earnings per share was $1.89, up 86% and 9% year over year, respectively.
“In Q2 our combined ISG and CSG revenue was $24.1 billion, up 12% year over year, positioning us well for the second half of the year and beyond,” said Yvonne McGill, chief financial officer, Dell Technologies. “Our momentum in ISG is a significant tailwind, with record ISG revenue of $11.6 billion, up 38% year over year.”
Cash flow from operations was $1.3 billion. Dell returned $1 billion to shareholders through share repurchases and dividends and ended the quarter with $6.0 billion in cash and investments.
Second Quarter Fiscal 2025 Financial Results
Three Months Ended
Six Months Ended
August 2,
2024
August 4,
2023
Change
August 2,
2024
August 4,
2023
Change
(in millions, except per share amounts and percentages; unaudited)
Net revenue
$ 25,026
$ 22,934
9 %
$ 47,270
$ 43,856
8 %
Operating income
$ 1,342
$ 1,165
15 %
$ 2,262
$ 2,234
1 %
Net income
$ 841
$ 455
85 %
$ 1,796
$ 1,033
74 %
Change in cash from operating activities
$ 1,340
$ 3,214
(58) %
$ 2,383
$ 4,991
(52) %
Earnings per share – diluted
$ 1.17
$ 0.63
86 %
$ 2.49
$ 1.42
75 %
Non-GAAP operating income
$ 2,034
$ 1,977
3 %
$ 3,508
$ 3,575
(2) %
Non-GAAP net income
$ 1,371
$ 1,283
7 %
$ 2,294
$ 2,246
2 %
Adjusted free cash flow
$ 1,284
$ 3,050
(58) %
$ 1,907
$ 3,737
(49) %
Non-GAAP earnings per share – diluted
$ 1.89
$ 1.74
9 %
$ 3.16
$ 3.05
4 %
Information about Dell Technologies’ use of non-GAAP financial information is provided under “Non-GAAP Financial Measures” below. All comparisons in this press release are year-over-year unless otherwise noted.
Infrastructure Solutions Group (ISG) delivered record second quarter revenue of $11.6 billion, up 38% year over year. Servers and networking revenue was a record $7.7 billion, up 80%, with demand growth across AI and traditional servers. Storage revenue was $4.0 billion, down 5%. Operating income was $1.3 billion.
“Our AI momentum accelerated in Q2, and we’ve seen an increase in the number of enterprise customers buying AI solutions each quarter,” said Jeff Clarke, vice chairman and chief operating officer, Dell Technologies. “AI-optimized server demand was $3.2 billion, up 23% sequentially, and $5.8 billion year to date. Backlog was $3.8 billion, and our pipeline has grown to several multiples of our backlog.”
Client Solutions Group (CSG) delivered second quarter revenue of $12.4 billion, down 4% year over year. Commercial client revenue was flat at $10.6 billion, and Consumer revenue was $1.9 billion, down 22%. Operating income was $767 million.
Operating Segments Results
Three Months Ended
Six Months Ended
August 2,
2024
August 4,
2023
Change
August 2,
2024
August 4,
2023
Change
(in millions, except percentages; unaudited)
Infrastructure Solutions Group (ISG):
Net revenue:
Servers and networking
$ 7,672
$ 4,274
80 %
$ 13,138
$ 8,111
62 %
Storage
3,974
4,187
(5) %
7,735
7,943
(3) %
Total ISG net revenue
$ 11,646
$ 8,461
38 %
$ 20,873
$ 16,054
30 %
Operating Income:
ISG operating income
$ 1,284
$ 1,049
22 %
$ 2,020
$ 1,789
13 %
% of ISG net revenue
11.0 %
12.4 %
9.7 %
11.1 %
% of total reportable segment operating income
63 %
52 %
57 %
49 %
Client Solutions Group (CSG):
Net revenue:
Commercial
$ 10,556
$ 10,554
— %
$ 20,710
$ 20,416
1 %
Consumer
1,858
2,388
(22) %
3,671
4,509
(19) %
Total CSG net revenue
$ 12,414
$ 12,942
(4) %
$ 24,381
$ 24,925
(2) %
Operating Income:
CSG operating income
$ 767
$ 969
(21) %
$ 1,499
$ 1,861
(19) %
% of CSG net revenue
6.2 %
7.5 %
6.1 %
7.5 %
% of total reportable segment operating income
37 %
48 %
43 %
51 %
Conference call information
As previously announced, the company will hold a conference call to discuss its performance and financial guidance on August 29 at 3:30 p.m. CDT. Prior to the start of the conference call, prepared remarks and a presentation containing additional financial and operating information prior to financial guidance may be downloaded from investors.delltechnologies.com. The conference call will be broadcast live over the internet and can be accessed at https://investors.delltechnologies.com/news-events/upcoming-events.
For those unable to listen to the live broadcast, the final remarks and presentation with financial guidance will be available following the broadcast, and an archived version will be available at the same location for one year.
About Dell Technologies
Dell Technologies (NYSE:DELL) helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry’s broadest and most innovative technology and services portfolio for the AI era.
Copyright © 2024 Dell Inc. or its subsidiaries. All Rights Reserved. Dell Technologies, Dell, EMC and Dell EMC are trademarks of Dell Inc. or its subsidiaries. Other trademarks may be trademarks of their respective owners.
Non-GAAP Financial Measures:
This press release presents information about non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP net income attributable to Dell Technologies Inc., non-GAAP earnings per share attributable to Dell Technologies Inc. – diluted, free cash flow, and adjusted free cash flow, all of which are non-GAAP financial measures provided as a supplement to the results provided in accordance with generally accepted accounting principles in the United States of America (“GAAP”). A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is provided in the attached tables for each of the fiscal periods indicated.
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 Dell Technologies’ current expectations. In some cases, you can identify these statements by such forward-looking words as “anticipate,” “believe,” “confidence,” “could,” “estimate,” “expect,” “guidance,” “intend,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should,” “will” and “would,” or similar words or expressions that refer to future events or outcomes.
Dell Technologies’ results or events in future periods could differ materially from those expressed or implied by these forward-looking statements because of risks, uncertainties, and other factors that include, but are not limited to, the following: adverse global economic conditions and instability in financial markets; competitive pressures; Dell Technologies’ reliance on third-party suppliers for products and components, including reliance on single-source or limited-source suppliers; Dell Technologies’ ability to achieve favorable pricing from its vendors; Dell Technologies’ execution of its strategy; social and ethical issues relating to the use of new and evolving technologies; Dell Technologies’ ability to manage solutions and products and services transitions in an effective manner; Dell Technologies’ ability to deliver high-quality products, software, and services; cyber attacks or other data security incidents; Dell Technologies’ ability to successfully execute on strategic initiatives including acquisitions, divestitures or cost savings measures; Dell Technologies’ foreign operations and ability to generate substantial non-U.S. net revenue; Dell Technologies’ product, services, customer, and geographic sales mix, and seasonal sales trends; the performance of Dell Technologies’ sales channel partners; access to the capital markets by Dell Technologies or its customers; material impairment of the value of goodwill or intangible assets; adverse economic conditions and the effect of additional regulation on Dell Technologies’ financial services activities; counterparty default risks; the loss by Dell Technologies of any contracts for ISG services and solutions and its ability to perform such contracts at their estimated costs; loss by Dell Technologies of government contracts; Dell Technologies’ ability to develop and protect its proprietary intellectual property or obtain licenses to intellectual property developed by others on commercially reasonable and competitive terms; disruptions in Dell Technologies’ infrastructure; Dell Technologies’ ability to hedge effectively its exposure to fluctuations in foreign currency exchange rates and interest rates; expiration of tax holidays or favorable tax rate structures, or unfavorable outcomes in tax audits and other tax compliance matters; impairment of portfolio investments; unfavorable results of legal proceedings; expectations relating to environmental, social and governance (ESG) considerations; compliance requirements of changing environmental and safety laws, human rights laws, or other laws; the effect of armed hostilities, terrorism, natural disasters, or public health issues; the effect of global climate change and legal, regulatory, or market measures to address climate change; Dell Technologies’ dependence on the services of Michael Dell and key employees; Dell Technologies’ level of indebtedness; and business and financial factors and legal restrictions affecting continuation of Dell Technologies’ quarterly cash dividend policy and dividend rate.
This list of risks, uncertainties, and other factors is not complete. Dell Technologies discusses some of these matters more fully, as well as certain risk factors that could affect Dell Technologies’ business, financial condition, results of operations, and prospects, in its reports filed with the SEC, including Dell Technologies’ annual report on Form 10-K for the fiscal year ended February 2, 2024, quarterly reports on Form 10-Q, and current reports on Form 8-K. These filings are available for review through the SEC’s website at www.sec.gov. Any or all forward-looking statements Dell Technologies makes may turn out to be wrong and can be affected by inaccurate assumptions Dell Technologies might make or by known or unknown risks, uncertainties, and other factors, including those identified in this press release. Accordingly, you should not place undue reliance on the forward-looking statements made in this press release, which speak only as of its date. Dell Technologies does not undertake to update, and expressly disclaims any duty to update, its forward-looking statements, whether as a result of circumstances or events that arise after the date they are made, new information, or otherwise.
DELL TECHNOLOGIES INC.
Condensed Consolidated Statements of Income and Related Financial Highlights
(in millions, except percentages; unaudited)
Three Months Ended
Six Months Ended
August 2,
2024
August 4,
2023
Change
August 2,
2024
August 4,
2023
Change
Net revenue:
Products
$ 18,954
$ 16,935
12 %
$ 35,081
$ 31,971
10 %
Services
6,072
5,999
1 %
12,189
11,885
3 %
Total net revenue
25,026
22,934
9 %
47,270
43,856
8 %
Cost of net revenue:
Products
16,079
14,002
15 %
29,845
26,377
13 %
Services
3,636
3,545
3 %
7,308
7,074
3 %
Total cost of net revenue
19,715
17,547
12 %
37,153
33,451
11 %
Gross margin
5,311
5,387
(1) %
10,117
10,405
(3) %
Operating expenses:
Selling, general, and administrative
3,189
3,517
(9) %
6,312
6,778
(7) %
Research and development
780
705
11 %
1,543
1,393
11 %
Total operating expenses
3,969
4,222
(6) %
7,855
8,171
(4) %
Operating income
1,342
1,165
15 %
2,262
2,234
1 %
Interest and other, net
(353)
(451)
22 %
(726)
(815)
11 %
Income before income taxes
989
714
39 %
1,536
1,419
8 %
Income tax expense (benefit)
148
259
(43) %
(260)
386
(167) %
Net income
841
455
85 %
1,796
1,033
74 %
Less: Net loss attributable to non-controlling
interests
(5)
(7)
29 %
(10)
(12)
17 %
Net income attributable to Dell Technologies Inc.
$ 846
$ 462
83 %
$ 1,806
$ 1,045
73 %
Percentage of Total Net Revenue:
Gross margin
21.2 %
23.5 %
21.4 %
23.7 %
Selling, general, and administrative
12.7 %
15.3 %
13.3 %
15.4 %
Research and development
3.1 %
3.1 %
3.3 %
3.2 %
Operating expenses
15.8 %
18.4 %
16.6 %
18.6 %
Operating income
5.4 %
5.1 %
4.8 %
5.1 %
Income before income taxes
4.0 %
3.1 %
3.2 %
3.2 %
Net income
3.4 %
2.0 %
3.8 %
2.4 %
Income tax rate
15.0 %
36.3 %
(16.9) %
27.2 %
Amounts are based on underlying data and may not visually foot due to rounding.
DELL TECHNOLOGIES INC.
Condensed Consolidated Statements of Financial Position
(in millions; unaudited)
August 2, 2024
February 2, 2024
ASSETS
Current assets:
Cash and cash equivalents
$ 4,550
$ 7,366
Accounts receivable, net of allowance of $78 and $71
11,391
9,343
Short-term financing receivables, net of allowance of $79 and $79
4,968
4,643
Inventories
5,953
3,622
Other current assets
10,681
10,973
Total current assets
37,543
35,947
Property, plant, and equipment, net
6,300
6,432
Long-term investments
1,302
1,316
Long-term financing receivables, net of allowance of $87 and $91
6,124
5,877
Goodwill
19,654
19,700
Intangible assets, net
5,374
5,701
Other non-current assets
6,390
7,116
Total assets
$ 82,687
$ 82,089
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Short-term debt
$ 6,711
$ 6,982
Accounts payable
24,095
19,389
Accrued and other
6,374
6,805
Short-term deferred revenue
14,853
15,318
Total current liabilities
52,033
48,494
Long-term debt
17,811
19,012
Long-term deferred revenue
12,859
13,827
Other non-current liabilities
2,781
3,065
Total liabilities
85,484
84,398
Stockholders’ equity (deficit):
Total Dell Technologies Inc. stockholders’ equity (deficit)
(2,894)
(2,404)
Non-controlling interests
97
95
Total stockholders’ equity (deficit)
(2,797)
(2,309)
Total liabilities and stockholders’ equity
$ 82,687
$ 82,089
DELL TECHNOLOGIES INC.
Condensed Consolidated Statements of Cash Flows
(in millions; unaudited)
Three Months Ended
Six Months Ended
August 2,
2024
August 4,
2023
August 2,
2024
August 4,
2023
Cash flows from operating activities:
Net income
$ 841
$ 455
$ 1,796
$ 1,033
Adjustments to reconcile net income to net cash provided
by operating activities:
499
2,759
587
3,958
Change in cash from operating activities
1,340
3,214
2,383
4,991
Cash flows from investing activities:
Purchases of investments
(25)
(98)
(64)
(113)
Maturities and sales of investments
97
108
216
127
Capital expenditures and capitalized software
development costs
(682)
(624)
(1,278)
(1,325)
Other
53
9
113
22
Change in cash from investing activities
(557)
(605)
(1,013)
(1,289)
Cash flows from financing activities:
Proceeds from the issuance of common stock
1
2
1
4
Repurchases of common stock
(725)
(260)
(1,425)
(500)
Repurchases of common stock for employee tax
withholdings
(14)
(6)
(535)
(312)
Payments of dividends and dividend equivalents
(316)
(269)
(652)
(545)
Proceeds from debt
1,941
2,134
4,933
4,655
Repayments of debt
(2,917)
(3,384)
(6,394)
(7,082)
Debt-related costs and other, net
(2)
(44)
(37)
(49)
Change in cash from financing activities
(2,032)
(1,827)
(4,109)
(3,829)
Effect of exchange rate changes on cash, cash equivalents,
and restricted cash
(42)
(59)
(97)
(117)
Change in cash, cash equivalents, and restricted cash
(1,291)
723
(2,836)
(244)
Cash, cash equivalents, and restricted cash at beginning of
the period
5,962
7,927
7,507
8,894
Cash, cash equivalents, and restricted cash at end of the
period
$ 4,671
$ 8,650
$ 4,671
$ 8,650
DELL TECHNOLOGIES INC.
Segment Information
(in millions, except percentages; unaudited; continued on next page)
Three Months Ended
Six Months Ended
August 2,
2024
August 4,
2023
Change
August 2,
2024
August 4,
2023
Change
Infrastructure Solutions Group (ISG):
Net revenue:
Servers and networking
$ 7,672
$ 4,274
80 %
$ 13,138
$ 8,111
62 %
Storage
3,974
4,187
(5) %
7,735
7,943
(3) %
Total ISG net revenue
$ 11,646
$ 8,461
38 %
$ 20,873
$ 16,054
30 %
Operating Income:
ISG operating income
$ 1,284
$ 1,049
22 %
$ 2,020
$ 1,789
13 %
% of ISG net revenue
11.0 %
12.4 %
9.7 %
11.1 %
% of total reportable segment operating income
63 %
52 %
57 %
49 %
Client Solutions Group (CSG):
Net revenue:
Commercial
$ 10,556
$ 10,554
— %
$ 20,710
$ 20,416
1 %
Consumer
1,858
2,388
(22) %
3,671
4,509
(19) %
Total CSG net revenue
$ 12,414
$ 12,942
(4) %
$ 24,381
$ 24,925
(2) %
Operating Income:
CSG operating income
$ 767
$ 969
(21) %
$ 1,499
$ 1,861
(19) %
% of CSG net revenue
6.2 %
7.5 %
6.1 %
7.5 %
% of total reportable segment operating income
37 %
48 %
43 %
51 %
Amounts are based on underlying data and may not visually foot due to rounding.
DELL TECHNOLOGIES INC.
Segment Information
(in millions, except percentages; unaudited; continued)
Three Months Ended
Six Months Ended
August 2, 2024
August 4, 2023
August 2, 2024
August 4, 2023
Reconciliation to consolidated net revenue:
Reportable segment net revenue
$ 24,060
$ 21,403
$ 45,254
$ 40,979
Other businesses (a)
966
1,528
2,015
2,871
Unallocated transactions (b)
—
3
1
6
Total consolidated net revenue
$ 25,026
$ 22,934
$ 47,270
$ 43,856
Reconciliation to consolidated operating income:
Reportable segment operating income
$ 2,051
$ 2,018
$ 3,519
$ 3,650
Other businesses (a)
(17)
(44)
(11)
(80)
Unallocated transactions (b)
—
3
—
5
Amortization of intangibles (c)
(168)
(213)
(336)
(416)
Stock-based compensation expense (d)
(191)
(223)
(401)
(448)
Other corporate expenses (e)
(333)
(376)
(509)
(477)
Total consolidated operating income
$ 1,342
$ 1,165
$ 2,262
$ 2,234
_________________
(a)
Other businesses consists of: 1) Dell’s resale of standalone VMware, Inc. products and services, “VMware Resale,” 2) Secureworks, and 3) Virtustream, and do not meet the requirements for a reportable segment, either individually or collectively.
(b)
Unallocated transactions includes other corporate items that are not allocated to Dell Technologies’ reportable segments.
(c)
Amortization of intangibles includes non-cash purchase accounting adjustments that are primarily related to the EMC merger transaction.
(d)
Stock-based compensation expense consists of equity awards granted based on the estimated fair value of those awards at grant date.
(e)
Other corporate expenses consist primarily of severance expenses, payroll taxes associated with stock-based compensation, facility action costs, transaction-related expenses, impairment charges, and incentive charges related to equity investments. Other corporate expenses included $328 million and $364 million of severance expense during the three months ended August 2, 2024 and August 4, 2023, respectively.
SUPPLEMENTAL SELECTED NON-GAAP FINANCIAL MEASURES
These tables present information about the Company’s non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP net income attributable to Dell Technologies Inc., non-GAAP earnings per share attributable to Dell Technologies Inc. – diluted, free cash flow and adjusted free cash flow, all of which are non-GAAP financial measures provided as a supplement to the results provided in accordance with generally accepted accounting principles in the United States of America (“GAAP”). A detailed discussion of Dell Technologies’ reasons for including these non-GAAP financial measures, the limitations associated with these measures, the items excluded from these measures, and our reason for excluding those items are presented in “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Non-GAAP Financial Measures” in our periodic reports filed with the SEC. Dell Technologies encourages investors to review the non-GAAP discussion in these reports in conjunction with the presentation of non-GAAP financial measures.
DELL TECHNOLOGIES INC.
Selected Financial Measures
(in millions, except per share amounts and percentages; unaudited)
Three Months Ended
Six Months Ended
August 2, 2024
August 4, 2023
Change
August 2, 2024
August 4, 2023
Change
Net revenue
$ 25,026
$ 22,934
9 %
$ 47,270
$ 43,856
8 %
Non-GAAP gross margin
$ 5,464
$ 5,536
(1) %
$ 10,411
$ 10,700
(3) %
% of net revenue
21.8 %
24.1 %
22.0 %
24.4 %
Non-GAAP operating expenses
$ 3,430
$ 3,559
(4) %
$ 6,903
$ 7,125
(3) %
% of net revenue
13.7 %
15.5 %
14.6 %
16.2 %
Non-GAAP operating income
$ 2,034
$ 1,977
3 %
$ 3,508
$ 3,575
(2) %
% of net revenue
8.1 %
8.6 %
7.4 %
8.2 %
Non-GAAP net income
$ 1,371
$ 1,283
7 %
$ 2,294
$ 2,246
2 %
% of net revenue
5.5 %
5.6 %
4.9 %
5.1 %
Non-GAAP earnings per share – diluted
$ 1.89
$ 1.74
9 %
$ 3.16
$ 3.05
4 %
Amounts are based on underlying data and may not visually foot due to rounding.
DELL TECHNOLOGIES INC.
Reconciliation of Selected Non-GAAP Financial Measures
(in millions, except percentages; unaudited; continued on next page)
Three Months Ended
Six Months Ended
August 2, 2024
August 4, 2023
Change
August 2, 2024
August 4, 2023
Change
Gross margin
$ 5,311
$ 5,387
(1) %
$ 10,117
$ 10,405
(3) %
Non-GAAP adjustments:
Amortization of intangibles
59
84
119
163
Stock-based compensation expense
38
37
76
75
Other corporate expenses
56
28
99
57
Non-GAAP gross margin
$ 5,464
$ 5,536
(1) %
$ 10,411
$ 10,700
(3) %
Operating expenses
$ 3,969
$ 4,222
(6) %
$ 7,855
$ 8,171
(4) %
Non-GAAP adjustments:
Amortization of intangibles
(109)
(129)
(217)
(253)
Stock-based compensation expense
(153)
(186)
(325)
(373)
Other corporate expenses
(277)
(348)
(410)
(420)
Non-GAAP operating expenses
$ 3,430
$ 3,559
(4) %
$ 6,903
$ 7,125
(3) %
Operating income
$ 1,342
$ 1,165
15 %
$ 2,262
$ 2,234
1 %
Non-GAAP adjustments:
Amortization of intangibles
168
213
336
416
Stock-based compensation expense
191
223
401
448
Other corporate expenses
333
376
509
477
Non-GAAP operating income
$ 2,034
$ 1,977
3 %
$ 3,508
$ 3,575
(2) %
Net income
$ 841
$ 455
85 %
$ 1,796
$ 1,033
74 %
Non-GAAP adjustments:
Amortization of intangibles
168
213
336
416
Stock-based compensation expense
191
223
401
448
Other corporate expenses
329
432
499
530
Fair value adjustments on equity
investments
(5)
29
25
44
Aggregate adjustment for income
taxes (a)
(153)
(69)
(763)
(225)
Non-GAAP net income
$ 1,371
$ 1,283
7 %
$ 2,294
$ 2,246
2 %
____________________
(a) Beginning in Fiscal 2025, our non-GAAP income tax is calculated using a fixed estimated annual tax rate.
DELL TECHNOLOGIES INC.
Reconciliation of Selected Non-GAAP Financial Measures
(unaudited; continued)
Three Months Ended
Six Months Ended
August 2,
2024
August 4,
2023
Change
August 2,
2024
August 4,
2023
Change
Earnings per share attributable to Dell Technologies Inc. —
diluted
$ 1.17
$ 0.63
86 %
$ 2.49
$ 1.42
75 %
Non-GAAP adjustments:
Amortization of intangibles
0.23
0.29
0.46
0.56
Stock-based compensation expense
0.26
0.30
0.55
0.61
Other corporate expenses
0.46
0.58
0.69
0.72
Fair value adjustments on equity investments
(0.01)
0.04
0.04
0.06
Aggregate adjustment for income taxes (a)
(0.21)
(0.09)
(1.05)
(0.31)
Total non-GAAP adjustments attributable to non-
controlling interests
(0.01)
(0.01)
(0.02)
(0.01)
Non-GAAP earnings per share attributable to Dell
Technologies Inc. — diluted
$ 1.89
$ 1.74
9 %
$ 3.16
$ 3.05
4 %
____________________
(a) Beginning in Fiscal 2025, our non-GAAP income tax is calculated using a fixed estimated annual tax rate.
DELL TECHNOLOGIES INC.
Reconciliation of Selected Non-GAAP Financial Measures
(in millions, except percentages; unaudited; continued)
Three Months Ended
Six Months Ended
August 2,
2024
August 4,
2023
Change
August 2,
2024
August 4,
2023
Change
Cash flow from operations
$ 1,340
$ 3,214
(58) %
$ 2,383
$ 4,991
(52) %
Non-GAAP adjustments:
Capital expenditures and capitalized software
development costs, net (a)
(636)
(624)
(1,222)
(1,322)
Free cash flow
$ 704
$ 2,590
(73) %
$ 1,161
$ 3,669
(68) %
Free cash flow
$ 704
$ 2,590
(73) %
$ 1,161
$ 3,669
(68) %
Non-GAAP adjustments:
Financing receivables (b)
487
497
652
130
Equipment under operating leases (c)
93
(37)
94
(62)
Adjusted free cash flow
$ 1,284
$ 3,050
(58) %
$ 1,907
$ 3,737
(49) %
____________________
(a)
Capital expenditures and capitalized software development costs is net of proceeds from sales of facilities, land, and other assets.
(b)
Financing receivables represent the operating cash flow impact from the change in DFS financing receivables.
(c)
Equipment under operating leases represents the net change of capital expenditures and depreciation expense for DFS leases and contractually embedded leases identified within flexible consumption arrangements.
View original content to download multimedia:https://www.prnewswire.com/news-releases/dell-technologies-delivers-second-quarter-fiscal-2025-financial-results-302234416.html
SOURCE Dell Technologies
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Eoptolink Releases OSFP 1.6T DR8 and 2FR4 Series Transceivers for AI/ML Clusters and Cloud Datacenter Networks
Published
24 mins agoon
September 20, 2024By
CHENGDU, China, Sept. 20, 2024 /PRNewswire/ — Eoptolink Technology Inc., Ltd. (SZSE: 300502), a leading innovator and provider of advanced optical transceiver solutions, announces the release of its OSFP 1.6T DR8/DR8-2 and 2xFR4 transceivers enabling the next generation high bandwidth networks for AI/ML clusters and cloud datacenters.
Eoptolink 1.6T OSFP transceivers have 8 electrical host interfacing lanes and 8 optical lanes operating at 212.5Gb/s (106GB with PAM4). Equipped with the industry’s latest DSP, these modules support transmission distances of up to 2km without the need to regenerate the FEC. The 1.6T DR8 and DR8-2 modules comes with either one MPO-16 adapter for point-to-point (P2P) connections or two MPO-12 adapters for 2x800G breakout applications. The 1.6T 2xFR4 modules are designed with a dual duplex LC connector running with 2 pairs of fibers only, which could help users to save fiber resources compared to DR8 and DR8-2 versions.
The 1.6T DR8/DR8-2 and 2FR4 Portfolio consists of: –
EOLO-13T-5H-XMX OSFP 1.6T DR8, 1×1.6TbE, 500m, MPO-16
EOLO-13T-5H-XDX OSFP 1.6T DR8, 2x800GbE, 500m, Dual MPO-12
EOLO-13T-02-XMX OSFP 1.6T DR8-2, 1×1.6TbE, 2km, MPO-16
EOLO-13T-02-XDX OSFP 1.6T DR8-2, 2x800GbE, 2km, Dual MPO-12
EOLO-16T-02-XXX OSFP 1.6T 2FR4, 2x800GbE, 2km, Dual Duplex LC
Eoptolink OSFP 1.6T transceivers feature both EML and SiPh-based solutions, and testing has demonstrated excellent performance. “We are very proud of our optical and RF design teams, says Sean Davies, VP Sales, Eoptolink Technology Inc., Ltd. “Our 1.6T OSFP modules do not need an additional FEC on the optical side and this results in lower latency and power consumption of the modules simplifying the complete system and helping our AI and cloud customers in their work.”
About Eoptolink
Eoptolink Technology Inc., Ltd. (SZSE: 300502), a publicly traded company in China, is a leading innovator and provider of advanced optical transceiver solution for data center, enterprise and telecom networks. Eoptolink is dedicated to research, develop, manufacture and markets a diverse portfolio of high-performance optical transceivers for AI, Cloud Data Center, 4G/5G wireless, Transport & Datacom and FTTX applications all over the world.
Contact Us
China(HQ):
No.510 Wulian Avenue, Chengdu 610200
USA:
3191 Laurelview Court, Fremont, CA 94538
Thailand:
390/21 Moo 2, Khao Khan Song, Sriracha, Chonburi 20110
E-mail:
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SOURCE Eoptolink Technology Inc., Ltd.
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Flat Ads Makes Its Mark at DMEXCO 2024: Showcasing Strength in Programmatic Advertising
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24 mins agoon
September 20, 2024By
COLOGNE, Germany, Sept. 20, 2024 /PRNewswire/ — In September, Flat Ads makes its mark at DMEXCO 2024, the prestigious European event of digital marketing and technology. The highly successful exhibition boasts 650 exhibitors, 850 speakers, and thousands of participants. At the event, Flat Ads showcased the strength of programmatic advertising platform in ad delivery, traffic optimization, and brand safety.
Flat Ads programmatic advertising platform has an exclusive developer traffic of 700 million and an extensive network spanning over 200 countries and regions worldwide. It cooperates with over 200 leading DSP/SSP partners, including FreeWheel, PubMatic and Criteo, leveraging an efficient and complete bidding system, as well as automatic delivery algorithms, to achieve precise marketing and advertising effectiveness maximization.
With its exclusive platform strategy algorithm, Flat Ads programmatic advertising platform can continuously conduct automatic exploration and matching based on the characteristics of DSP and traffic, optimize and adjust the algorithm model in real-time. This not only ensures the sustainability of DSP budgets, but also maximizes traffic utilization and enhances monetization revenue of advertisements.
Moreover, brand protection is among the top priorities of Flat Ads. In addition to accessing to authority agency Pixalate to test the effectiveness of ads, it has also accessed HUMAN, the global cybersecurity authority to safeguard its clients by preventing bot attacks, digital fraud and abuse, ensuring a stable, reliable, and secure programmatic advertising transaction platform.
By participating in DMEXCO 2024, Flat Ads showcased its outstanding strength and fruitful achievements in the programmatic advertising field, attracting the attention of numerous advertisers and developers for cooperation. Flat Ads boasts not only robust technical capabilities and innovative prowess, but also an active and open attitude towards emerging technologies, embracing and exploring them. It remains committed to providing more professional and efficient global marketing services to advertisers and developers worldwide, helping clients stand out in the fiercely competitive market and achieve business growth.
As a globally leading mobile advertising marketing platform, Flat Ads currently operates offices in Singapore, Indonesia, Hong Kong, and Guangzhou, serving over 1000 clients with global marketing solutions. If you’re interested in Flat Ads’ programmatic advertising services, please visit www.flat-ads.com.
View original content:https://www.prnewswire.co.uk/news-releases/flat-ads-makes-its-mark-at-dmexco-2024-showcasing-strength-in-programmatic-advertising-302253872.html
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Tulufan, Xinjiang: For the first time, a new energy plant and station has achieved “all-green electricity” operation
Published
1 hour agoon
September 20, 2024By
TULUFAN, China, Sept. 20, 2024 /PRNewswire/ — On September 19, employees of State Grid Tulufan Electric Power Supply Company came to State Power Investment Zhongli Tenghui Qiquanhu Photovoltaic Power Station to provide comprehensive technical support and guidance for new energy enterprises.
Seven wind power and photovoltaic power generation enterprises, including Xinjiang Jize Power Generation Company in Tulufan, have obtained 6.035 million KWH of grid electricity by purchasing 6,035 “green certificates” to achieve “green electricity – green electricity” and achieve green energy use in the whole link of new energy power generation.
The green power certificate, referred to as “green certificate”, is the only certificate that identifies the production and consumption of renewable energy power. Promoting the all-green operation of new energy power generation is an important measure to promote the green consumption of renewable energy.
“Before, we were just ‘producers’ of green electricity. Now the buyers of green certificates have become green electricity consumers, and the production process is fully green.” Qiquan Lake photovoltaic power station inspection officer Forzati Dilishati said.
Since the launch of the green electricity and green certificate market, State Grid Tulufan Electric Power Supply Company has actively promoted green electricity trading, promoted the supply of green electricity and green certificates in multiple scenarios, promoted the rapid promotion and popularization of related services in Tulufan, and helped build a new power system.
In the first eight months of this year, the cumulative volume of green electricity transactions in Xinjiang reached 1.174 billion KWH, 93.83 times that of the whole year of 2022.
View original content:https://www.prnewswire.com/apac/news-releases/tulufan-xinjiang-for-the-first-time-a-new-energy-plant-and-station-has-achieved-all-green-electricity-operation-302253902.html
SOURCE State Grid Tulufan Electric Power Supply Company
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