Dell Technologies' Q4 profit, sales rise

Published: Feb. 25, 2021 at 5:18 p.m. ET

By

Claudia Assis

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Shares of Dell Technologies Inc. DELL, -2.46% rose more than 3% in the extended session Thursday after the tech company reported fourth-quarter profit and sales that were better than Wall Street expected. Dell said it earned $1.3 billion, or $1.57 a share, in the quarter, compared with $416 million, or 54 cents a share, in the year-ago quarter. Adjusted for one-time items, Dell earned $2.70 a share, compared with $2 a share a year ago. Revenue rose 9% to $26.1 billion, Dell said. Analysts polled by FactSet had expected Dell to report adjusted earnings of $2.14 a share on sales of $24.5 million. "This year's strong results are a testament to the flexibility of Dell Technologies' business model and the resilience of our team," Chief Financial Officer Tom Sweet said in a statement. Dell's full-year revenue rose 2% to $94.2 billion. The stock ended the regular trading day down 2.5%.

Target to double the size of Apple shops in its stores

Target Corp. undefined said Thursday that it will double the size of Apple Inc. undefined shops in select stores. The retailer is also unveiling a new shopping experience for both store locations and its e-commerce site. The new experience will start rolling out this month with stores in 17 locations scheduled, including Gainesville, Fla., Miami, and San Jose, Calif. Additional locations are coming in the fall. Apple and Target have a 15-year relationship. Target stock has gained 70% over the past year while the S&P 500 index undefined is up 25% for the period.