Dell Reports Record First Quarter Earnings
- Paul Thurrott
- May 27, 2022
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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.”
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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.