Investing.com -- Dell Technologies reported Thursday fourth-quarter results that topped Wall Street as rising demand for its artificial-intelligence-optimized servers offset weakness in personal computing.
Dell Technologies Inc (NYSE:DELL) rose 18% in afterhours trading.
For the three months ended Feb. 2, the company reported adjusted EPS of $2.20 on revenue of $22.32 billion, compared with estimates for $1.73 per share and $22.16B, respectively.
The infrastructure solutions group business, which includes AI-optimized servers, saw revenue rise 10% sequentially to $9.33B, though fell 6% year over year. The company, however, talked up strong demand.
"Our strong AI-optimized server momentum continues, with orders increasing nearly 40% sequentially and backlog nearly doubling, exiting our fiscal year at $2.9 billion," the company said.
The client solutions group, which includes its PC business, reported a 12% decline in revenue to $11.72B year-on-year in Q4.
The company also hiked its annual dividend by 20% to $1.78 a share.