Dell: Fiscal 4Q24 Financial Results

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