Net income declined by 45%
Dell Technologies, which recently completed the first quarter of the fiscal year 2021, has published a report.
Dell Technologies Reaches $ 21.9 Billion Last Quarter
Income for the reporting period amounted to 21.908 billion dollars, almost unchanged in annual terms – a year ago, revenue was equal to 21.897 billion dollars. Operating profit for the year increased by 28% – from 550 to 702 million dollars. However, net income declined. If a year ago it was equal to 329 million dollars, then in the past quarter it amounted to only 182 million dollars.
For non-GAAP calculations, revenue is $ 22.945 billion, operating profit is $ 2.161 billion (2% less in annual terms), net profit is $ 1.143 million (5% less). The large deviation from the values calculated according to GAAP is due to the consideration of payments for the transaction with EMC. Recall that in 2016, Dell bought EMC for $ 67 billion, in connection with which its debt increased significantly.