Dell Announces 17% Revenue Growth for Fiscal 2022, Despite Fourth Quarter Losses

Dell Technologies reported total revenue for the fourth quarter of its fiscal year 2022 at $27.9 billion, a 16% increase from the $24.15 billion posted a year ago.

Despite this, the company suffered a net loss of $29 million, which translates to a loss per share of $0.04. That’s a far cry from the $695 million, or $0.90 per share, of earnings the company made in the year-ago quarter. The driving factor behind the decline was an increase in interest and other operating expenses, which reached $1.65 billion, after being just $475 million in the previous fourth quarter.

For the year, Dell’s revenue reached $101.2 billion, a 17% increase and a new record for the company, driven by growth across all business units and record PC shipments at the peak of the pandemic.

Earnings here were $4.94 billion, or $6.26 per share, a 31% increase from the $3.74 billion, or $4.88 per share posted for fiscal 2021.

Jeff Clarke, vice president and co-chief operating officer of Dell Technologies, called fiscal year 2022 “the best year in the history of Dell Technologies”. Along with the aforementioned record revenues, he also touted the manufacturer’s “strategic advancements in multi-cloud, edge, as-a-service and telecommunications.”

Also: Dell Technologies wants to be recognized as the “champion of the cloud ecosystem”

Meanwhile, Tom Sweet, CFO of Dell Technologies, provided an update on the company’s return of its VMware spin-off, which reportedly generated $10.3 billion in cash flow and the obtaining an investment grade.

Based on these results, Dell’s Board of Directors created a new dividend policy under which Dell “intends to pay quarterly cash dividends on its common stock, with an initial dividend rate of $1.32 per share per year for fiscal 2023, or approximately $1 billion overall.”

The first of these new installments will be payable on April 29 to shareholders of record on April 20.

Additional segment details are available in Dell Technologies Results for the 2022 financial year.