Dell's Q1 revenue up 16% YoY to $26.1B, beats estimates
Dell Technologies Inc. reported on Thursday that its revenue for the first quarter of the fiscal year 2023 amounted to $26.12 billion, increasing 16% on an annual basis and beating estimates.
The company's diluted earnings per share saw an annual rise of 63% and stood at $1.37 in the first trimester of the fiscal year. The operating income jumped 57% year on year to reach $1.6 billion.
"In our first quarter, we returned $1.75 billion to our shareholders through a combination of share repurchases and dividends," Dell CFO Tom Sweet commented adding that the company is "delivering long-term value by executing our strategy for growth, taking share, generating strong cash flow from operations and executing our capital allocation framework."
Dell's shares soared 5.39% in after-hours trading following the release of the report.