Dell Technologies Reports Fiscal Year 2018 Q1 Financial Results

June 8, 2017

ROUND ROCK, Texas, June 8, 2017 — Dell Technologies (NYSE: DVMT) announces its fiscal 2018 first quarter results, which reflect the growth and impact of the EMC transaction.

For the first quarter, consolidated revenue was $17.8 billion and non-GAAP revenue was $18.2 billion. During the quarter, the company generated an operating loss of $1.5 billion, with a non-GAAP operating income of $1.2 billion.

“We’re pleased with overall results in the first quarter of our new go-to-market structure and the demand velocity we saw in a challenging component cost environment,” said Tom Sweet, chief financial officer, Dell Technologies Inc. “I’m encouraged by these achievements and excited about the opportunities ahead as we continue to provide a broad portfolio of solutions for our customers’ digital transformations.”

The company ended the quarter with a cash and investments balance of $14.9 billion. Since closing the EMC transaction, Dell Technologies has paid down approximately $7.1 billion in gross debt, resulting in a $200 million reduction in annualized interest expense on a run-rate basis. The company also has repurchased $1.1 billion of Class V Common Stock under both the previously announced Class V Group and DHI Group repurchase programs.

Fiscal first quarter 2018 results

Three Months Ended

May 5, 2017

April 29, 2016

Change

(in millions, except percentages; unaudited)

Net revenue

$                         17,816

$                         12,241

46 %

Operating loss

$                         (1,500)

$                            (139)

(979)%

Net loss from continuing operations

$                         (1,383)

$                            (424)

(226)%

Non-GAAP net revenue

$                         18,171

$                         12,319

48 %

Non-GAAP operating income

$                           1,197

$                              539

122 %

Non-GAAP net income from continuing operations

$                              581

$                              264

120 %

Adjusted EBITDA

$                           1,567

$                              643

144 %

Information about Dell Technologies’ use of non-GAAP financial information is provided under “Non-GAAP Financial Measures” below. All comparisons in this press release are year-over-year unless otherwise noted.

Operating segments summary

Client Solutions Group continued to outgrow the market worldwide in unit shipments for both commercial and consumer product categories on a calendar year basis. Revenue for the first quarter was $9.1 billion, up 6 percent year over year. Operating income was $374 million for the quarter, or 4.1 percent of revenue.

Key highlights:

  • Increased PC shipments by 6.2 percent year-over-year, with 17 consecutive quarters of year-over-year PC unit share growth
  • Maintained No. 1 share position worldwide for displays, gaining unit share year-over-year for the 17th consecutive quarter
  • Only vendor to gain share year-over-year in both Fixed and Mobile workstation categories

Infrastructure Solutions Group generated $6.9 billion of revenue in the first quarter, which includes $3.2 billion in servers and networking and $3.7 billion in storage, with an operating income of $323 million.

Key highlights:

  • Remained the worldwide market share leader in x86 servers, with PowerEdge units and revenue growth up by double digits in the fiscal quarter
  • Demand for hyperconverged portfolio grew at a triple-digit rate, while demand for all-flash solutions grew at a very high double-digit rate
  • Increased demand for Virtustream Public Cloud for mission-critical applications by approximately 100 percent

VMware segment revenue for the first quarter was $1.7 billion, with operating income of $486 million, or 28 percent of revenue.

Early in the first quarter, the company successfully integrated the combined sales organization and is now operating with one common go-to-market sales motion for customers. Immediately following the quarter close, Dell Technologies hosted its second annual Dell EMC World conference last month in Las Vegas for 13,000 customers and partners. During the event the company launched approximately 40 innovative products and solutions, including the new 14th generation of Dell EMC PowerEdge servers, four flexible consumption models, seven all-flash and hybrid storage systems and the world’s first artificial intelligence platform for women entrepreneurs. In addition, the company announced Dell Technologies Capital, its venture practice for the entire Dell Technologies family of businesses aimed at investments in early-stage startups.

Conference call information

As previously announced, the company will hold a conference call to discuss its first quarter performance today at 7 a.m. CDT. The conference call will be broadcast live over the internet and can be accessed at investors.delltechnologies.com. For those unable to listen to the live broadcast, an archived version will be available at the same location for 30 days.

A slide presentation containing additional financial and operating information may be downloaded from Dell Technologies’ website at investors.delltechnologies.com.

About Dell Technologies

Dell Technologies is a unique family of businesses that provides the essential infrastructure for organizations to build their digital future, transform IT and protect their most important asset, information. The company services customers of all sizes across 180 countries – ranging from 98 percent of the Fortune 500 to individual consumers – with the industry’s most comprehensive and innovative portfolio from the edge to the core to the cloud.


Source: Dell Technologies

Subscribe to HPCwire's Weekly Update!

Be the most informed person in the room! Stay ahead of the tech trends with industy updates delivered to you every week!

Dell EMC to Supply U Michigan’s Great Lakes Cluster Project

October 16, 2018

The University of Michigan (U-M) today announced Dell EMC is the lead vendor for U-M’s $4.8 million Great Lakes HPC cluster scheduled for deployment in first half of 2019. The new machine is intended to replace the eig Read more…

By John Russell

What’s New in HPC Research: October (Part 2)

October 15, 2018

In this bimonthly feature, HPCwire will highlight newly published research in the high-performance computing community and related domains. From exascale to quantum computing, the details are here. Check back on the firs Read more…

By Oliver Peckham

Building a Diverse Workforce for Next-Generation Analytics and AI

October 15, 2018

High-performance computing (HPC) has a well-known diversity problem, and groups such as Women in HPC are working to address it. But while the diversity challenge crosses the science and technology spectrum, it is especia Read more…

By Jan Rowell

HPE Extreme Performance Solutions

One Small Step Toward Mars: One Giant Leap for Supercomputing

Since the days of the Space Race between the U.S. and the former Soviet Union, we have continually sought ways to perform experiments in space. Read more…

IBM Accelerated Insights

Houston to Field Massive, ‘Geophysically Configured’ Cloud Supercomputer

October 11, 2018

Based on some news stories out today, one might get the impression that the next system to crack number one on the Top500 would be an industrial oil and gas monster, which would be a first, but at a spec'd 250 single-pre Read more…

By Tiffany Trader

Dell EMC to Supply U Michigan’s Great Lakes Cluster Project

October 16, 2018

The University of Michigan (U-M) today announced Dell EMC is the lead vendor for U-M’s $4.8 million Great Lakes HPC cluster scheduled for deployment in first Read more…

By John Russell

Houston to Field Massive, ‘Geophysically Configured’ Cloud Supercomputer

October 11, 2018

Based on some news stories out today, one might get the impression that the next system to crack number one on the Top500 would be an industrial oil and gas mon Read more…

By Tiffany Trader

Nvidia Platform Pushes GPUs into Machine Learning, High Performance Data Analytics

October 10, 2018

GPU leader Nvidia, generally associated with deep learning, autonomous vehicles and other higher-end enterprise and scientific workloads (and gaming, of course) Read more…

By Doug Black

Federal Investment in Exascale – What It Really Means

October 10, 2018

Earlier this month, the EuroHPC JU (Joint Undertaking) reached critical mass, and it seems all EU and affiliated member states, bar the UK (unsurprisingly), have or will sign on. The EuroHPC JU was born from a recognition that individual EU member states, and the EU as a whole, were significantly underinvesting in HPC compared to the US, China and Japan, who all have their own exascale investment and delivery strategies (NSCI, 13th 5 Year Plan, Post-K, etc). Read more…

By Dairsie Latimer

NERSC-9 Clues Found in NERSC 2017 Annual Report

October 8, 2018

If you’re eager to find out who’ll supply NERSC’s next-gen supercomputer, codenamed NERSC-9, here’s a project update to tide you over until the winning bid and system details are revealed. The upcoming system is referenced several times in the recently published 2017 NERSC annual report. Read more…

By Tiffany Trader

DDN, Nvidia Blueprint Unified AI Appliance with Up to 9 DGX-1s

October 4, 2018

Continuing the roll-out of the A3I (Accelerated, Any-Scale AI) storage strategy kicked off in June, DDN today announced a new set of solutions that combine the Read more…

By Tiffany Trader

D-Wave Is Latest to Offer Quantum Cloud Platform

October 4, 2018

D-Wave Systems today launched its cloud platform for quantum computing – Leap – which combines a development environment, community features, and "real-time Read more…

By John Russell

Rise of the Machines – Clarion Call on AI by U.S. House Subcommittee

October 2, 2018

Last week, the top U.S. House of Representatives subcommittee on IT weighed in on AI with a new report - Rise of the Machines: Artificial Intelligence and its Growing Impact on U.S. Policy. Read more…

By John Russell

TACC Wins Next NSF-funded Major Supercomputer

July 30, 2018

The Texas Advanced Computing Center (TACC) has won the next NSF-funded big supercomputer beating out rivals including the National Center for Supercomputing Ap Read more…

By John Russell

IBM at Hot Chips: What’s Next for Power

August 23, 2018

With processor, memory and networking technologies all racing to fill in for an ailing Moore’s law, the era of the heterogeneous datacenter is well underway, Read more…

By Tiffany Trader

Requiem for a Phi: Knights Landing Discontinued

July 25, 2018

On Monday, Intel made public its end of life strategy for the Knights Landing "KNL" Phi product set. The announcement makes official what has already been wide Read more…

By Tiffany Trader

CERN Project Sees Orders-of-Magnitude Speedup with AI Approach

August 14, 2018

An award-winning effort at CERN has demonstrated potential to significantly change how the physics based modeling and simulation communities view machine learni Read more…

By Rob Farber

House Passes $1.275B National Quantum Initiative

September 17, 2018

Last Thursday the U.S. House of Representatives passed the National Quantum Initiative Act (NQIA) intended to accelerate quantum computing research and developm Read more…

By John Russell

Summit Supercomputer is Already Making its Mark on Science

September 20, 2018

Summit, now the fastest supercomputer in the world, is quickly making its mark in science – five of the six finalists just announced for the prestigious 2018 Read more…

By John Russell

New Deep Learning Algorithm Solves Rubik’s Cube

July 25, 2018

Solving (and attempting to solve) Rubik’s Cube has delighted millions of puzzle lovers since 1974 when the cube was invented by Hungarian sculptor and archite Read more…

By John Russell

AMD’s EPYC Road to Redemption in Six Slides

June 21, 2018

A year ago AMD returned to the server market with its EPYC processor line. The earth didn’t tremble but folks took notice. People remember the Opteron fondly Read more…

By John Russell

Leading Solution Providers

HPC on Wall Street 2018 Booth Video Tours Playlist

Arista

Dell EMC

IBM

Intel

RStor

VMWare

D-Wave Breaks New Ground in Quantum Simulation

July 16, 2018

Last Friday D-Wave scientists and colleagues published work in Science which they say represents the first fulfillment of Richard Feynman’s 1982 notion that Read more…

By John Russell

TACC’s ‘Frontera’ Supercomputer Expands Horizon for Extreme-Scale Science

August 29, 2018

The National Science Foundation and the Texas Advanced Computing Center announced today that a new system, called Frontera, will overtake Stampede 2 as the fast Read more…

By Tiffany Trader

Intel Announces Cooper Lake, Advances AI Strategy

August 9, 2018

Intel's chief datacenter exec Navin Shenoy kicked off the company's Data-Centric Innovation Summit Wednesday, the day-long program devoted to Intel's datacenter Read more…

By Tiffany Trader

HPE No. 1, IBM Surges, in ‘Bucking Bronco’ High Performance Server Market

September 27, 2018

Riding healthy U.S. and global economies, strong demand for AI-capable hardware and other tailwind trends, the high performance computing server market jumped 28 percent in the second quarter 2018 to $3.7 billion, up from $2.9 billion for the same period last year, according to industry analyst firm Hyperion Research. Read more…

By Doug Black

GPUs Power Five of World’s Top Seven Supercomputers

June 25, 2018

The top 10 echelon of the newly minted Top500 list boasts three powerful new systems with one common engine: the Nvidia Volta V100 general-purpose graphics proc Read more…

By Tiffany Trader

MLPerf – Will New Machine Learning Benchmark Help Propel AI Forward?

May 2, 2018

Let the AI benchmarking wars begin. Today, a diverse group from academia and industry – Google, Baidu, Intel, AMD, Harvard, and Stanford among them – releas Read more…

By John Russell

Germany Celebrates Launch of Two Fastest Supercomputers

September 26, 2018

The new high-performance computer SuperMUC-NG at the Leibniz Supercomputing Center (LRZ) in Garching is the fastest computer in Germany and one of the fastest i Read more…

By Tiffany Trader

Aerodynamic Simulation Reveals Best Position in a Peloton of Cyclists

July 5, 2018

Eindhoven University of Technology (TU/e) and KU Leuven research group conducts the largest numerical simulation ever done in the sport industry and cycling discipline. The goal was to understand the aerodynamic interactions in the peloton, i.e., the main pack of cyclists in a race. Read more…

  • arrow
  • Click Here for More Headlines
  • arrow
Do NOT follow this link or you will be banned from the site!
Share This