Dell: Fiscal 3Q20 Financial Results

(in $ million)	3Q19	3Q20	6 mo. 19	6 mo. 20
Storage revenue	4,166	4,184	12,131	12,355
*Growth*		7%		2%

Dell Technologies, Inc. announced financial results for its 2FQ20 ended August 2, 2019.

Global quarterly revenue was $23.4 billion, up 2%, and non-GAAP revenue was $23.5 billion, up 1% over the same period last year.

Storage business grew 7% Y/Y for the quarter – the same percentage as in entire FY19 – following 3FQ20 increasing demand in data protection and hyperconverged with VxRail orders up 82%.

In comparison, Y/Y storage growth was perfectly flat during the former 3-month period.

Infrastructure solutions group revenue was at $8.4 billion, down 6%. External storage is up 18% and hyperconverged systems 142% Y/Y.

Remember that Dell acquired the WW leader of storage industry EMC and its huge storage portfolio for a global sum of $63 billion in 2015, storage only representing around $16 billion. At the beginning, it was not a success but the situation is now better even it will finally needs 4 years to reach the same amount of storage revenue.

“We have gained 375 basis points of storage share over the last 2 years,” commented Jeffrey Clarke, vice chairman, products and operations.

Company expects to gain storage share in North America in 3CQ19.

Earnings call transcript