MNI China Daily Summary: Friday, January 10

MNI BRIEF: China To Adopt Very Proactive Fiscal Policy-Offical

CANADA LIBERAL LEADERHIP VOTE TO REPLACE TRUDEAU SET FOR MAR 9

MNI BRIEF: PBOC Suspends Bonds Trades As Yields Drop

MNI: PBOC Net Drains CNY14.8 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1891 Fri; -2.36% Y/Y

USDA: CORN STOCKS 12,074M BSL ON JAN 1

MNI: USDA: 2024/2025 CORN PRODUCTION EST 14.87B BSL

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

TECHNOLOGY: Dell Reports Q325 Earnings; Not A Spread Mover

TECHNOLOGY
BulletCredit Bullets

NR/BBB/BBB[P]                EUR Spreads Muted In Early Streaming

  • Q3 revenue +10% YoY (-0.9% vs. BBG cons). CSG (their PC unit) -2.3% vs. BBG cons while ISG (servers/servers) +0.3% vs. BBG cons.
  • Op income +12% YoY (+2% vs. cons). Adj-EBITDA +8% YoY (-1.2% vs. cons)
  • CFO of USD 1.6bn from USD 2.2bn in Q324; ad-FCF of USD 0.7bn from USD 0.9bn.
  • Core leverage of 1.4x in line with Q2 and from 1.5x at FY24.
  • Q4 revenue seen at USD 24-25bn (vs. BBG cons of USD 24.9bn). “Expect multiple tailwinds that support growth next year” on strong AI pipeline and expected ISG growth on aging install base.
101 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

NR/BBB/BBB[P]                EUR Spreads Muted In Early Streaming

  • Q3 revenue +10% YoY (-0.9% vs. BBG cons). CSG (their PC unit) -2.3% vs. BBG cons while ISG (servers/servers) +0.3% vs. BBG cons.
  • Op income +12% YoY (+2% vs. cons). Adj-EBITDA +8% YoY (-1.2% vs. cons)
  • CFO of USD 1.6bn from USD 2.2bn in Q324; ad-FCF of USD 0.7bn from USD 0.9bn.
  • Core leverage of 1.4x in line with Q2 and from 1.5x at FY24.
  • Q4 revenue seen at USD 24-25bn (vs. BBG cons of USD 24.9bn). “Expect multiple tailwinds that support growth next year” on strong AI pipeline and expected ISG growth on aging install base.