Sales were down 6% annually at Dell Technologies for its third quarter, with revenue standing at $24.7 billion.
But Dell was keen to says that operating income was a record $1.8 billion, up 68%, representing 7.1% of revenue.
However, it didn’t quite light up its 93% drop in net income – from $3.7 billion last year to just $241m this time.
Recurring revenue for the third quarter was around $5.4 billion, up 11% year-over-year.
Cash and investments were $6.5 billion, and $847m was returned to shareholders in the quarter through share repurchases and dividends.
Infrastructure Solutions Group business delivered record third quarter revenue of $9.6 billion, up 12% year-over-year, and its seventh consecutive quarter of year-over-year growth. Servers and networking revenue was $5.2 billion, up 14%. Storage revenue was $4.4 billion, up 11%. Operating income was a record $1.4 billion, up 54% and approximately 14.3% of Infrastructure Solutions Group revenue.
The Client Solutions Group delivered third quarter revenue of $13.8 billion, down 17% year-over-year. Commercial revenue was $10.7 billion, down 13%, and Consumer revenue was $3 billion, down 29%. Operating income was $1.1 billion, down 7%, and approximately 7.7% of Client Solutions Group revenue.
As part of continuing APEX as-a-service momentum, Dell PowerFlex block storage is now available in the AWS Marketplace.