Dell Technologies Inc. (NYSE: DELL) reported its most recent quarterly results after the markets closed on Thursday. For the second quarter, the firm said that it had $1.92 in earnings per share (EPS) and $22.8 billion in revenue. Analysts were calling for $1.39 in EPS and revenue of $22.52 billion, and the same period of last year reportedly had EPS of $2.15 on $23.45 billion in revenue.
During the second quarter, the company saw total deferred revenue increase 14% year over year to $28.8 billion. Recurring revenue, which includes deferred revenue amortization, utility and as-a-service delivered as part of Dell Technologies on Demand, was roughly $6 billion for the quarter, an increase of 15%.
At the same time, the Infrastructure Solutions Group revenue decreased 5% year over year to $8.2 billion. Storage revenue was down 4% at $4.0 billion, while servers and networking decreased 5% to $4.2 billion. Operating income for the segment was $973 million.
The Client Solutions Group revenue decreased by 5% to $11.2 billion. Commercial revenue shrank 11% to $8.0 billion, and Consumer revenue increased 18% to $3.2 billion. Operating income was $715 million.
VMware revenue grew 10% to $2.9 billion, driven by broad-based strength across a diverse product portfolio. Operating income for the second quarter was $894 million.
The company offered no guidance in the filing. However, the consensus forecast is $1.29 in EPS and $22.05 billion in revenue for the fiscal third quarter.
Management noted that during the second quarter, the company saw strength in the government sector and in education, with orders up 16% and 24%, respectively, as parents, teachers and school districts prepare for a new frontier in virtual learning.
Dell stock hit a new 52-week high of $67.33 a share early Friday. The consensus price target was $62.89 on last look.