Dell Technologies reported on Thursday a nearly 9 percent rise in quarterly revenue in its first earnings report since a return to public markets.
For the fourth quarter, Dell's revenue was $23.8 billion, up 9 percent, and non-GAAP revenue was $24.0 billion, up 8 percent over the same period in the prior year. During the quarter, the company generated operating income of $331 million, versus an operating loss of $69 million in the fourth quarter of the prior year. Fourth quarter non-GAAP operating income was $2.7 billion. Cash flow from operations was approximately $2.4 billion.
For the full year, revenue was $90.6 billion, up 15 percent, and non-GAAP revenue was $91.3 billion, up 14 percent over the prior year. The company reduced its operating loss by 92 percent to $191 million, and generated a non-GAAP operating income of $8.9 billion, up 14 percent over the prior year. Cash flow from operations was $7.0 billion. During the year, net loss decreased 25 percent to $2.1 billion and adjusted EBITDA increased 13 percent to $10.3 billion.
The company returned to public markets on Dec. 28 after it bought back interest tied to the performance of software maker VMware.
"I am pleased with our strong fourth quarter and fiscal 2019 velocity and financial performance, including double-digit revenue growth for the year across all three business units and profitable share gains across our portfolio," said Tom Sweet, chief financial officer, Dell Technologies. "In fiscal 2020 we'll continue to run the business in a disciplined way. We will remain focused on generating long-term relative growth, share gain and cash flow while driving long-term value for shareholders and serving our customers' full range of needs."
Revenue in its Infrastructure Solutions Group, which houses its servers and network device business, rose 10 percent to $9.9 billion.
Client Solutions Group segment revenue rose 4 percent to $10.9 billion. The unit holds its desktop PCs, notebooks and tablets, as well as branded peripherals business.
Total revenue rose to $23.84 billion from $21.96 billion.
VMware revenue was $2.6 billion for the quarter, up 17 percent, and $9.1 billion for the full year, up 14 percent. Operating income for the quarter was $872 million, or 33 percent of VMware revenue, and $3.0 billion for the full year, or 33 percent of VMware revenue.