Dell Jumps 25% In Pre-market On Upbeat Quarterly Results, Increased Dividend

(RTTNews) - Shares of Dell Technologies Inc. (DELL) are up more than 25 percent in pre-market on Friday, at $118.90, after reporting fourth-quarter results that surpassed analysts' view. The technology giant also increased its annual dividend by 20% to $1.78 per share.

Net income for the fourth quarter increased 91 percent to $1.158 billion or $1.59 per share from $606 million or $0.84 per share in the same quarter a year ago.

Excluding special items, earnings were $1.610 billion or $2.20 per share, that beat the average estimate of 14 analysts polled by Thomson-Reuters of $1.73 per share.

Fourth-quarter revenue declined 11% year over year at $22.3 billion, but beat the consensus estimate of $22.16 billion.

Dell has increased its annual dividend by 20% to $1.78 per share, with $0.445 per share for the first quarterly distribution payable on May 3 to shareholders of record on April 23.

Dell shares had closed at $94.66, up 1.51 percent on Thursday. The stock has been trading in the range of $35.96 - $94.99 in the last 52 weeks.