Dell Technologies has reported its fourth-quarter earnings for 2023, surpassing expectations with a revenue of $22.32 billion against the projected $22.16 billion. This positive outcome led to a more than 15% increase in the stock price of Dell shares.

Despite exceeding their projected earnings, Dell experienced an 11% decrease in year-over-year revenue for the quarter. According to a press release by Dell, the company's annual revenue stood at $88.4 billion, marking a 14% decline from their earnings in 2023. However, the company is set to increase its annual cash dividends by 20%, amounting to $1.78 per common share.

Dell anticipates significant business growth during FY 2025 due to the increasing demand for AI and computer technologies nationwide. Sam Burd, president of Client Solutions Group at Dell Technologies, stated: "Every company that wants to remain competitive will have to implement AI in some way, and AI PCs will be central to that." He further explained that from running complex AI workloads on workstations to using day-to-day AI-powered applications on laptops, investing in AI PCs would yield productivity dividends and pave the way for a smarter, more efficient future. "Dell’s advantage starts with offering more AI PCs across the commercial portfolio from day one, giving customers the ability to start future proofing for AI today," added Burd. As per a company press release, Dell is poised to have the broadest portfolio of commercial AI laptops and mobile workstations.

The company's Client Solutions Group delivered a fourth-quarter revenue of $11.7 billion; Commercial clients contributed $9.6 billion while Consumer revenue accounted for the remaining $2.2 billion. In its bid to help customers meet performance goals, Dell has been expanding its portfolio and recently entered into a partnership with Nokia as its infrastructure partner for Nokia AirFrame customers. Furthermore, Dell is offering Nokia's Digital Automation Cloud solution with Dell NativeEdge.