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Dell reports record first quarter sales and profits

Dell reports record first quarter sales and profits

Dell Technologies has posted record first quarter revenues of $26.1 billion, up 16% annually.

There was also record first quarter operating income of $1.6 billion, up 57%. Net income from continuing operations was $1.1 billion, up 62%.

Recurring revenue for the first quarter was approximately $5.3 billion, up 15%.

There was good growth across both the Infrastructure Solutions Group (ISG) and the Client Solutions Group (CSG) for the period ending 29 April, 2022.

ISG recorded sales of $9.3 billion, up 16%. Storage revenue was $4.2 billion, up 9%. Servers and networking revenue was $5 billion, up 22% year-over-year. Operating income was $1.1 billion or approximately 11.7% of Infrastructure Solutions Group revenue.

CSG saw revenue of $15.6 billion, up 17% year-over-year. Performance was driven by continued strength in commercial PCs, said Dell, with commercial PC revenue of $12 billion, a 22% increase year-over-year.

Consumer revenue was $3.6 billion, a 3% increase year-over-year. Operating income was $1.1 billion, or 7.2% of Client Solutions Group revenue.

“Our first quarter demonstrates the benefits of having a strong, geographically and sector-diverse business covering the edge to the core data centre to the cloud,” said Chuck Whitten, co-chief operating officer.

The company spun off the VMware unit last November, and that business was this week acquired by Broadcom in a deal worth $69 billion, including debt. VMware’s biggest shareholder is Michael Dell.