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Emoji sadDell: Fiscal 4Q24 Financial Results

Storage down 10% in 4FQ24 and FY24

For storage only

(in $ million) 4Q23 4Q24 12 mo. 23 12 mo. 24
Revenue 4,965 4,475 17,958 16,261
Growth   -10%   -10%

4FQ24 global revenue was $22.3 billion (-11% Y/Y) and FY24 revenue was $88.4 billion.

Up 16% sequentially with sequential demand growth above normal seasonality across company’s portfolio and with better profitability as the firm increased its mix of proprietary storage software, storage revenue at $4,475 million in 4FQ24 decreased yearly each quarter of FY24: 11% in 1FQ24, 3% in 3FQ24, 13% in 3FQ24 and 10% in 4FQ24.

In ISG, traditional server demand grew Y/Y and a 3rd consecutive quarter of sequential growth, and storage demand grew above normal seasonality, though down Y/Y as expected.

The figure is $16,261 million in FY24 for storage is down 10% from FY23 but storage business will benefit from the exponential growth expected in unstructured data.

Storage revenue of Dell
(in $ million)

Period Revenue Y/Y growth
FY11*
2,295
5%
FY12*
1,943
-15%
FY13*
1,699
-13%
FY14*
1,518
-11%
FY15*
1,437
-5%
FY16*
2,217
54%
FY17**
8,942
303%
FY18 15,254
71%
FY19 16,767 10%
FY20 16,767 -0%
FY21
16,091 -4%
FY22
16,465
0%
1FQ23 4,237 9%
2FQ23 4,327 6%
3FQ23 4,429 11%
4FQ23 4,965 10%
FY23 17,958 9%
1FQ24 3,756 -11%
2FQ24 4,187 -3%
3FQ24 3,843 -13%
4FQ24 4,475 -10%
FY24 16,261 -10%

* Without EMC
**without EMC for 1FQ17 and 2FQ17 following acquisition for $63 billion

Earnings call transcript

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