Dell Technologies Q4 Loss Widens

(RTTNews) - Dell Technologies (DVMT) reported that its net loss attributable to the company for the fourth-quarter widened to $511 million from $236 million in the prior year.

But, net loss from continuing operations narrowed to $553 million and $0.51 per share from $1.414 billion and $2.68 per share in the previous year.

"We drove velocity at or above market rate in multiple areas of the business and generated strong operating cash flow as we brought the full capabilities of Dell Technologies together. In fiscal 2019 we'll continue to execute our long-term strategy, capitalizing on our broad portfolio of solutions for customers at every stage of the digital transformation journey,." said Tom Sweet, chief financial officer, Dell Technologies.

Consolidated revenue for the quarter was $21.9 billion, up 9 percent, and non-GAAP revenue was $22.2 billion, up 8 percent from the prior period.

Client Solutions Group revenue for the fiscal fourth quarter was $10.6 billion, up 8 percent versus the fourth quarter of last year. Commercial revenue grew 9 percent to $7.3 billion and Consumer revenue was up 6 percent to $3.3 billion.

VMware revenue for the fourth quarter was $2.3 billion, up 20 percent, with operating income of $834 million, up 48 percent, and 35.8 percent of revenue.