From CNBC: 2024-05-30 17:44:44

Michael Dell, Chairman and CEO of Dell Technologies, reported first-quarter earnings that beat analysts’ estimates for earnings and sales. Shares fell 12% in extended trading before recovering. Dell posted earnings per share of $1.27, revenue of $22.24 billion, and expected current-quarter earnings of $1.65 per share.

Dell reported $955 million in net income for the quarter, a significant increase from the year-ago period. The Infrastructure Solutions Group, which includes data center sales, saw a 22% rise in sales to $9.2 billion. Server sales increased by 42% to $5.5 billion, driven by strong demand for AI servers.

Dell has become a top vendor for AI servers, recording $2.6 billion in “AI-optimized” server orders in the quarter. The Client Solutions Group, focused on PCs and laptops, showed flat growth with sales of $12.0 billion. Earlier in the year, Nvidia CEO called out Michael Dell as the go-to person for orders of their new chips. Dell’s total sales for the year are guided to be between $93.5 billion and $97.5 billion.



Read more at CNBC:: Dell earnings Q1 2025