Dell Technologies Announces First Quarter Fiscal 2023 Financial Results

May 27, 2022 By MarketDepth

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Dell Technologies (NYSE: DELL) Reports Financial Results for fiscal 2023 first quarter.  Revenue was a first quarter record of $26.1 billion, up 16%, with growth across Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG). The company generated record first quarter operating income of $1.6 billion, a 57% increase, and record non-GAAP operating income of $2.1 billion, up 21%. Net income from continuing operations was $1.1 billion, up 62%, and non-GAAP net income was $1.4 billion, up 36%.  “We followed a record FY22 with a record first quarter FY23. Revenue was $26.1 billion, up 16%, with growth across our business units,” said Jeff Clarke, vice chairman and co-chief operating officer, Dell Technologies. “We are built to outperform, in a balanced and consistent way across the company, as our customers invest in their digital futures and choose Dell as their trusted partner.”

“Our first quarter – with record Q1 revenue, operating income and diluted EPS – demonstrates the benefits of having a strong, geographically and sector-diverse business covering the edge to the core data center to the cloud. Plus we are positioned to pursue growth wherever it materializes in the IT market, given the predictability, durability and flexibility in our business.”

Chuck Whitten, co-chief operating officer

“In our first quarter, we returned $1.75 billion to our shareholders through a combination of share repurchases and dividends,” said Tom Sweet, chief financial officer, Dell Technologies. “We are delivering long-term value by executing our strategy for growth, taking share, generating strong cash flow from operations and executing our capital allocation framework.”