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Dell Technologies hikes dividend after Q4 results top estimates; CFO to retire

By Yasin Ebrahim

Investing.com -- Dell Technologies reported Thursday fourth-quarter results that topped Wall Street estimates and the hardware maker hiked its dividend.

The company also announced that Tom Sweet would retire as chief financial officer at the end of Q2. Yvonne McGill, currently corporate controller, will take up the reins as CFO at the start of Q3 fiscal 2024.

Dell Technologies (NYSE:DELL) jumped 5% in afterhours trading following the report.

 
The company reported third-quarter adjusted EPS of $1.80 on revenue of $25.04 billion, compared with estimates for $1.65 per share and $23.51B, respectively.

The client solutions group reported a 23% decline in revenue to $13.36B year-on-year in Q4, offsetting 7% growth in its infrastructure solutions group business.

The company also hiked its dividend by 12% to $1.48 a share.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.