Dell Technologies 1Q Profit Jumped on Higher Sales, Lower Expenses

By Jeffrey T. Lewis

Dell Technologies Inc. said Thursday its profit rose in the first quarter after sales jumped and some operating expenses declined.

The Round Rock, Texas-based computer equipment maker reported net income of $1.07 billion, compared with $938 million a year earlier. Earnings per share reached $1.37, compared with 84 cents in the first quarter of 2021, and adjusted earnings per share rose to $1.84 from $1.35. Net revenue increased to $26.12 billion from $22.59 billion.de

The revenue figure beat market expectations, while profit underperformed. The median forecast of analysts surveyed by FactSet was for sales of $25 billion and net income of $1.10 billion.

The company's total cost of net revenue rose to $20.33 billion from $17.33 billion, while selling, general and administrative expenses fell to $3.55 billion from $3.66 billion, and total operating expenses declined to $4.23 billion from $4.28 billion.

Write to Jeffrey T. Lewis at [e-mail]

(END) Dow Jones Newswires

05-26-22 1654ET