Dell: Fiscal 3Q19 Financial Results

Dell Technologies, Inc. announces its fiscal 2019 third quarter results ended November 2, 2018.

For storage only, it was $3.883 billion in revenue, up 6% Q/Q and -7% Y/Y, and this marked the third consecutive quarter of revenue growth for storage growing 10% for the last nine months

For the last known figure of EMC, before the acquisition by Dell for $63 billion, and at this time the WW leader of the storage industry, it was $3,447 million for storage in 1FQ16 ended March 2016, then without Dell storage.

Tom Sweet, Dell CFO, comments: “Quite frankly, we would have liked to have seen higher growth in storage this quarter, but we do believe we have taken the right actions to drive meaningful long-term improvements in the storage business.”

Jeff Clarke, vice chairman, products and operations of the company, added: “We continue to focus on accelerating the velocity in mid-range storage through significant investments in our go to market engine to increase capacity and coverage, focused innovation to increase the competitiveness of the portfolio and working towards a new mid-range product that is expected to be available by the end of next year. We continue to see strong demand for our market leading hyper-converged portfolio and other software defined offers. Our VxRail offerings saw triple digit growth again this quarter and – this quarter on a demand basis and now is well above $1 billion run rate.”

Dell saw double digit growth in demand for high end, file based and all flash storage offerings.

To read the earnings call transcript