Dell said net revenue for the Q3 quarter and the first 9 months of Fiscal 2025 rose 10% and 8%, respectively. The company said ISG net revenue growth was partially offset by declines in other businesses net revenue and CSG net revenue.

10-QQuarterly reportFiled Dec 10, 2024Period of report Nov 1, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Dell said net revenue for the Q3 quarter and the first 9 months of Fiscal 2025 rose 10% and 8%, respectively. The company said ISG net revenue growth was partially offset by declines in other businesses net revenue and CSG net revenue.
The company said operating income and non-GAAP operating income for the Q3 quarter of Fiscal 2025 rose 12% to $1.7 billion and $2.2 billion, respectively. For the first 9 months, they rose 6% and 3% to $3.9 billion and $5.7 billion, respectively.
Dell said gross margin percentage for the Q3 quarter of Fiscal 2025 fell 130 basis points to 21.8%, and non-GAAP gross margin percentage fell 140 basis points to 22.3%. The company cited the shift in mix toward AI-optimized server offerings and the competitive CSG pricing environment as factors behind the declines.
The company said cash provided by operating activities for the first 9 months of Fiscal 2025 was $3.9 billion, compared with $7.1 billion for the same period of Fiscal 2024. It said cash and cash equivalents decreased by $2.1 billion over the same period.

Key figures

Quarter ended November 1, 2024

Revenue: $24.4B
Operating income: $1.7B
Net income: $1.1B
EPS: $1.58
Gross profit: $5.3B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Net Revenue Growth in Q3 and First 9 Months, With Segment Commentary

Dell said net revenue for the Q3 quarter and the first 9 months of Fiscal 2025 rose 10% and 8%, respectively. The company said ISG net revenue growth was partially offset by declines in other businesses net revenue and CSG net revenue.

Source · Based on the MD&A text of the filing

Operating Income for Q3 and First 9 Months

The company said operating income and non-GAAP operating income for the Q3 quarter of Fiscal 2025 rose 12% to $1.7 billion and $2.2 billion, respectively. For the first 9 months, they rose 6% and 3% to $3.9 billion and $5.7 billion, respectively.

Source · Based on the MD&A text of the filing

Gross Margin Change in Q3 and Company Explanation

Dell said gross margin percentage for the Q3 quarter of Fiscal 2025 fell 130 basis points to 21.8%, and non-GAAP gross margin percentage fell 140 basis points to 22.3%. The company cited the shift in mix toward AI-optimized server offerings and the competitive CSG pricing environment as factors behind the declines.

Source · Based on the MD&A text of the filing

Operating Cash Flow and Cash Decline in First 9 Months

The company said cash provided by operating activities for the first 9 months of Fiscal 2025 was $3.9 billion, compared with $7.1 billion for the same period of Fiscal 2024. It said cash and cash equivalents decreased by $2.1 billion over the same period.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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