Dell Technologies (NYSE:DELL) shares fell more than 2% after-hours following the company’s reported Q3 results, with revenue of $22.3 billion (down 10% year-over-year) coming in worse than the consensus estimate of $23.01B. Q3 EPS came in at $1.88, compared to the consensus estimate of $1.46.
Infrastructure Solutions Group revenue was $8.5B in Q3, down 12% year-over-year, and Client Solutions Group revenue was $12.3B, representing an 11% year-over-year decline.
The company ended the quarter with remaining performance obligations of $39B, recurring revenue of $5.6B, up 4% year-over-year, and deferred revenue of $29.1B, up 7% year-over-year, primarily due to increases in software and hardware maintenance agreements.
"We have proven our ability to generate strong cash flow through profitability and working capital efficiency, including $9.9 billion of cash flow from operations over the last twelve months," said CFO Yvonne McGill.