Dell Technologies Shares Up 5% on Q1 Beat, Posts Record First Quarter ISG & CSG Revenues

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Dell Technologies Shares Up 5% on Q1 Beat, Posts Record First Quarter ISG & CSG Revenues
Credit: © Reuters.

By Davit Kirakosyan

Dell Technologies (NYSE: DELL ) shares rose more than 5% after-hours following the company’s Q1 results, with EPS of $1.84 coming in better than the Street estimate of $1.40.

Revenue rose 16% year-over-year to $26.1 billion, compared to the consensus of $25.12 billion, representing the ninth straight quarter of consensus beats.

The company saw growth across the Infrastructure Solutions Group (ISG) and the Client Solutions Group (CSG) segments, both achieving first quarter record revenues. ISG, which sells data storage software and servers, grew 16% year-over-year to $9.3 billion. CSG, which includes desktop PCs, notebooks and tablets, grew 17% year-over-year to $15.6 billion.

"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."

Shares of Dell were down 22% year-to-date going into the results.

 

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