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Wednesday, June 29, 2022

Understanding the Financial Health of Dell Technologies Inc. (DELL)

Last week, computer hardware maker Dell Technologies Inc. (NYSE: DELL) announced first-quarter fiscal 2023 results. The company’s key achievements were to increase market share and overcome supply chain issues.

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Dell Technologies’ revenue grew 16% year-on-year to $26.1 billion last quarter. Sales of infrastructure solutions (servers for enterprise customers, storage systems, and network solutions) increased 16% to $9.3 billion.

Sales of the Client Solutions group, dedicated to implementing personal computers, posted a double-digit increase of 17% to $15.6 billion.

Business PC sales were a particularly strong driver of growth. Dell Technologies Inc. (DELL) business PC revenue increased 22% to $12 billion as companies increased orders as employees returned to the office. This trend is expected to continue for several quarters as companies refresh their technical fleet after a long interruption due to the coronavirus.

Strong personal computer sales from Dell Technologies suggest the company is increasing its share of the global PC market, as global PC shipments fell 6.8% in the first quarter, according to market research firm Gartner.

Dell Technologies was also able to mitigate the impact of supply chain disruption. The company’s efforts in this direction, together with its cost control strategy, enabled adjusted operating income to increase by 21% to $2.1 billion.

Adjusted net income rose 36% to $1.4 billion, or $1.84 per share. Note that Dell Technologies’ quarterly results are much better than predicted by Wall Street analysts.

Dell Technologies Inc. (DELL) closed Tuesday’s session at $49.94, up 0.73%. DELL’s stock has risen 21.15 percent in the last week after falling -4.15% in the previous 12 months. The stock has risen 0.12 percent in the last three months but has lost -13.25% in the last six months. Furthermore, the company’s current market capitalization is $33.10 billion, with 762.00 million shares outstanding.

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