Dell Technologies Inc. is experiencing its best trading day since it returned to the stock market in 2018, as its shares jumped over 30% during Friday's trading session.
The company's stock upward trend was seemingly driven by better-than-expected financial results. The computer maker said its net income in the fourth quarter of fiscal 2024 soared 91% compared to the same period the year before, landing at $1.2 billion, while its diluted earnings per share surged 89% to stand at $1.59. The company also announced that it decided to raise its annual dividend by 20% to $1.78 per share.
Dell's stock skyrocketed 30.26% at 1:27 pm ET, to sell for $123.30 apiece.
