Dell First Quarter Adjusted Earnings Surpass Analysts’ Estimates

6:21 AM, May 31, 2019 — Dell Technologies (DELL) posted a modest uptick in revenue during its fiscal first quarter while adjusted earnings per share beat analysts’ estimates, bolstered by coverage expansion in the company’s client solutions group segment.

The Round Rock, TX.-headquartered manufacturer of laptops and electrical devices reported revenue of $21.91 billion in the three months ended May 3, up 3% from the corresponding quarter of the prior year, but below the consensus estimate of analysts polled by Capital IQ for $22.2 billion.

The results were bolstered by a 6% increase in revenue at Dell’s client solutions group unit to $10.91 billion. This helped to offset a 5% decline in revenue at the infrastructure solutions group segment. Revenue from VMWare gained 13% to $2.28 billion.

Adjusted diluted earnings per share came in at $1.45, ahead of the $1.20 per share average estimate of analysts. Adjusted earnings per share from the prior year quarter were not immediately available.

“I am pleased that we grew revenue and profitability while taking share in a dynamic environment,” said Tom Sweet, chief financial officer. “We remain focused on long-term relative growth and innovating across our family of businesses to help our customers transform for their digital future.”

Companies: Dell Technologies Inc.
Price: 66.41 Price Change: +0.21 Percent Change: +0.32

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