Dell Technologies Inc - Stock Price Quote and News - CNBC

Overview

Dell Technologies Inc. (NYSE: DELL) reported stronger-than-expected revenue and earnings for its fiscal first quarter, boosted by strong demand for its server and storage products. The company's revenue rose by 16% year-over-year to $22.24 billion, beating analysts' estimates of $21.64 billion. Net income also surged, increasing by 42% to $2.17 billion or $1.46 per share. Adjusted EPS came in at $1.67 per share, surpassing expectations of $1.56 per share.

The strong quarter was driven by growth across all of Dell's business segments. Client Solutions Group revenue rose by 17% to $11.2 billion, driven by strong demand for laptops and desktops. Infrastructure Solutions Group revenue also grew by 16% to $8.4 billion, led by data center spending. VMware, the company's cloud computing subsidiary, reported revenue growth of 9% to $3.2 billion.

Key Metrics

• Revenue: $22.24 billion (up 16%)
• Earnings per share: $1.46 (up 42%)
• Adjusted EPS: $1.67 (up 12%)

Conclusion

Dell Technologies' strong first quarter results demonstrate the company's continued execution of its growth strategy. The company's focus on innovation and customer satisfaction has enabled it to capitalize on the increasing demand for technology solutions. As the digital transformation continues, Dell is well-positioned to remain a leader in the industry.