Dell: Fiscal 3Q20 Financial Results
Storage business back to consistent growth of 7% Y/Y after flat 2Q20
By Jean Jacques Maleval | November 28, 2019 at 2:30 pm(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.