Dell Technologies raises guidance

Dell Technologies Inc. released its second-quarter financial results before the market opened Thursday. Here’s what you need to know.

PROFIT: The company reported a net loss of $499 million, or $1.45 a share, compared with a loss of $732 million, or $1.66 a share for the comparable quarter a year ago. The company reported a profit per Class V share of $1.58, up from $1 a year earlier.

REVENUE: Total net revenue rose 18% to $22.94 billion.

GUIDANCE: Dell Technologies expects adjusted revenue for fiscal 2019 to be between $90.5 billion and $92 billion, up from its prior expectations of between $86.5 billion and $88.5 billion. The company expects adjusted profit to be between $4.9 billion and $5.3 billion, up from previous guidance of between $4.5 billion and $4.8 billion. It also said it expects adjusted operating income to be between $8.4 billion and $8.8 billion, up from its old estimate of between $8.1 billion and $8.4 billion. Dell Technologies said it raised its guidance "given the momentum it has seen year-to-date."

STOCK: Class V shares, up 18% year to date, were unchanged premarket.

Write to Allison Prang at [email protected]

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