5/28, 10:28 PM (Source: TeleTrader)
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Dell posts Q1 revenue at $21.9B to beat estimates

Dell Technologies Inc. announced on Thursday that its revenue stood at $21.9 billion in the first fiscal quarter of 2020, remaining virtually unchanged compared to the same period last year to beat estimates. The company's operating income was at $702 million, climbing 28% on an annual basis, while net income sank 45% in three months ending May 1 to land at $182 million, translating to diluted earnings per share of $0.19.

"In Q1, we saw orders with banking and financial services, government, healthcare and life sciences customers up 15 to 20 percent – all to meet immediate needs of their customers, communities and patients," Jeff Clarke, vice chairman and chief operating officer at Dell Technologies, said in a statement.

Dell's shares jumped more than 6% in after-hours trading following the announcement.

Breaking the News / GA