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Dell Technologies announces strong first quarter financial results

Dell reported total unaudited assets of over US$123 billion. (Source: brandchannel)
Dell reported total unaudited assets of over US$123 billion. (Source: brandchannel)
A press release from Dell Technologies has shown that the Texas-based company has enjoyed strong results for the first financial quarter of fiscal year 2019. Total net revenue stood at US$21.4 billion, which is a considerable increase over the US$18 billion revenue earned for the first quarter of the previous fiscal year.

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Dell Technologies has released a report detailing the first quarter financial results for the 2019 fiscal year. Net revenue was US$21.4 billion and PC shipments increased by 6.4% in terms of year-over-year growth. Although the computer firm reported a net loss of US$538 million for the quarter, this was still an improvement over the result from a year ago, which stood at US$1.2 billion. Dell’s CFO, Tom Sweet, made these comments about the quarterly results:

We had a strong first quarter with balanced growth across all business units, regions, and customer segments.

Our broad set of capabilities, enhanced by our targeted investments over the last year, drove strong top-line momentum and improved profitability, allowing us to generate good operating cash flow and make progress paying down our core debt.

In regard to core debt, Dell Technologies paid off around US$600 million of the company’s debt, which now totals US$39.8 billion according to the report. Sales of servers and PCs were strong and the VMware subsidiary performed well, with segment revenue of US$2 billion. This was an improvement on the previous year’s result of US$1.8 billion.

The company’s Infrastructure Solutions Group (ISG), Dell EMC, nearly doubled its operating income, from US$506 million to US$939 million. Dell EMC mainly focuses on storage solutions and information security products.

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2018 06 > Dell Technologies announces strong first quarter financial results
Daniel R Deakin, 2018-06- 5 (Update: 2018-06- 5)