Future-of-Work Solutions Power Dell Technologies' Second Quarter Fiscal 2021 Financial Results

ROUND ROCK, Texas, Aug. 27, 2020 — (PRNewswire) —

News summary

  • Second quarter revenue of $22.7 billion, non-GAAP revenue of $22.8 billion
  • Operating income up 119% to $1.1 billion, non-GAAP operating income of $2.6 billion
  • Dell Technologies continues to effectively navigate COVID-19 environment, providing the essential work- and learn-from-home, cloud and storage solutions customers need

Full story
Dell Technologies (NYSE: DELL) announces financial results for its fiscal 2021 second quarter. Second quarter revenue was $22.7 billion, and non-GAAP revenue was $22.8 billion. During the quarter, the company generated operating income of $1.1 billion, a 119 percent increase over the same period in the prior year, and non-GAAP operating income of $2.6 billion. Net income was $1.1 billion, non-GAAP net income was $1.6 billion and adjusted EBITDA was $3.1 billion. Net cash from operating activities was $3.3 billion. Diluted earnings per share was $1.37 and non-GAAP diluted earnings per share was $1.92.

"We provide the technology solutions customers need to be productive and collaborative no matter where they work or learn, while delivering the data-driven insights and automation they need to innovate and transform," said Jeff Clarke, vice chairman and chief operating officer, Dell Technologies. "In Q2, we saw strength in the government sector and in education, with orders up 16 and 24 percent, respectively, as parents, teachers and school districts prepare for a new frontier in virtual learning."

Second Quarter Fiscal 2021 Financial Results



Three Months Ended




Six Months Ended




July 31, 2020


August 2, 2019


Change


July 31, 2020


August 2, 2019


Change


(in millions, except per share amounts and percentages; unaudited)

Total net revenue

$

22,733



$

23,370



(3)%


$

44,630



$

45,278



(1)%

Operating income

$

1,136



$

519



119%


$

1,838



$

1,069



72%

Net income

$

1,099



$

4,232



(74)%


$

1,281



$

4,561



(72)%

Earnings per share - diluted

$

1.37



$

4.47



(69)%


$

1.56



$

4.84



(68)%













Non-GAAP net revenue

$

22,775



$

23,454



(3)%


$

44,720



$

45,444



(2)%

Non-GAAP operating income

$

2,618



$

2,743



(5)%


$

4,779



$

4,939



(3)%

Non-GAAP net income

$

1,621



$

1,751



(7)%


$

2,764



$

2,960



(7)%

Adjusted EBITDA

$

3,100



$

3,156



(2)%


$

5,707



$

5,729



—%

Non-GAAP earnings per share - diluted

$

1.92



$

2.15



(11)%


$

3.26



$

3.60



(9)%


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