Dell, VMware withdraws financial guidance from 2021 due to a COVID-19 pandemic

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Both Dell Technologies and VMware on Thursday said they must withdraw their fiscal guidance by 2021 as a result of the uncertain impact of the COVID-19 pandemic. Some other companies, like Twitter and Square, have had to reduce or withdraw their financial outlook due to the crisis.

Dell wrote: “While the company is currently showing an increased interest in home-based work and its continued implementation in its global supply chain, it continues to rely on its liquidity position, the company is not able to predict. the extent to which the global COVID-19 pandemic can adversely affect its business operations, financial performance and results of operations for the current fiscal year. ”

VMware similarly said to the SEC that it was withdrawing its prospects “as a result of rising levels of uncertainty” last month.

A month ago, when it reported its fourth quarter 2020 fiscal results, Dell projected fiscal revenue for 2021 between $ 91.8 billion and $ 94.8 billion, with non-GAAP revenue of $ 5.90. dollars per share and $ 6.60 per share.

In a conference call discussing VMware’s fourth quarter results, the company forecasts a tax revenue of 2021, approximately $ 12.05 million. For the first quarter of 2021, VMware expects total revenues of approximately $ 2.73 billion. That guidance, the company said, included an impact of COVID-19 on VMware’s Asia Pacific results in the first quarter.