Dell Reports Record First Quarter Earnings

Dell last night reported that it earned a net income of $1 billion on record revenues of $26.1 billion for the quarter ending April 29, 2002. Those figures represent gains of 62 percent and 16 percent year-over-year (YOY), respectively.

“We followed a record FY22 with a record first quarter FY23,” Dell vice chairman and co-COO Jeff Clarke said. “We are built to outperform, in a balanced and consistent way across the company, as our customers invest in their digital futures and choose Dell as their trusted partner.”

The firm credited its Client Solutions Group (CSG) and Infrastructure Solutions Group (ISG) for the upswing.

ISG was again Dell’s biggest business, with revenues of $15.6 billion in the quarter, up 17 percent YOY. This performance was driven by “continued strength in commercial PCs,” Dell said, and its commercial PC business landed $12 billion in revenues, up 22 percent YOY. Consumer PC revenue was $3.3 billion, up 3 percent.

Dell’s ISG delivered record first quarter revenue of $9.3 billion, up 16 percent YOY. Servers and networking revenue was $5 billion, up 22 percent YOY, while storage revenue was $4.2 billion, up 9 percent.