Dell Doubles Growth Estimates For Sales, Profit On Soaring AI Demand
Synopsis
Dell’s new “long-term financial framework” indicates the company’s revenue is projected to grow at a target rate of 7% to 9%, up from the previous projections of 3% to 4%.
Dell Technologies Inc. (DELL) doubled its growth estimates for sales and profit over the next two years on Tuesday, driven by soaring demand for artificial intelligence. Shares of the company rallied over 5% pre-market following the announcement.
Dell’s new “long-term financial framework” indicates that the company’s revenue is projected to grow at a target rate of 7% to 9%, up from its previous projections of 3% to 4%. It expects earnings per share (EPS) to grow at a rate of 15% or higher, up from previous projections of 8% or higher.
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