Dell: Fiscal 3Q23 Financial Results

Revenue for storage only

(in $ million)	3Q22	3Q23	9 mo. 22	9 mo. 23
Revenue	4,003	4,429	11,966	12,993
Y/Y growth		11%		6%

Dell Technologies Inc. announces financial results for its fiscal 2023 third quarter.

Global revenue was $24.7 billion, down 6%.

Infrastructure solutions group delivered record third quarter revenue of $9.6 billion, up 12% Y/Y and its 7th consecutive quarter of Y/Y growth. Servers and networking revenue was $5.2 billion, up 14%. Storage revenue was $4.4 billion, up 11% Y/Y and 2% Q/Q, the 3rd consecutive quarter of growth. Operating income was a record $1.4 billion, up 54% and 14.3% of infrastructure solutions group revenue.

TAM growing
Dell Financial F1
1) Dell analysis leveraging external data sources: IDC 2Q22 Forecasts (server, storage); TAM note: Storage includes core storage, data protection, and HCI; Server is total server less HCI HW. 2) Dell’Oro CY23-26 forecasts (networking).

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%
1FQ20	4,022	-1%
2FQ20	4,184	0%
3FQ20	4,184	8%
4FQ20	4,487	-3%
FY20	16,767	-0%
1FQ21	3,758	-7%
2FQ21	4,011	-4%
3FQ21	4,149	-7%
4FQ21	4,409	-2%
FY21	16,091	-4%
1FQ22	3,802	0%
2FQ22	3,970	-1%
3FQ22	3.895	1%
4FQ22	4,499	-0%
FY22	16,465	0%
1FQ23	4,237	9%
2FQ23	4,327	6%
3FQ23	4,429	11%

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

Earnings call transcript