Dell records record profits

Dell saw growth in its Infrastructure and Client Solutions Groups as it announced a first quarter record in its latest trading update.

The computer behemoth has revealed its financial results for the first three months of its fiscal 2023 year, with revenue up 16 percent from the previous year to $26.1 billion.

The company also generated a record first quarter operating income of $1.6bn, a 57 per cent increase on the year before, and a non-GAAP operating income of $2.1 billion, up 21 percent.

“We followed a record FY22 with a record first quarter FY23”, said Jeff Clarke, vice chairman and co-chief operating officer of 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.”

Dell says its Infrastructure Solutions Group delivered record first-quarter revenue of $9.3 billion, thanks to demand increasing across the company’s storage portfolio.

Servers and networking revenue was $5 billion, up 22 per cent year-over-year, whilst operating income was $1.1 billion.

Meanwhile, Dell’s Client Solutions Group delivered a record first-quarter revenue of $15.6 billion, up 17 percent year-over-year.

Performance “was driven by continued strength in commercial PCs”, Dell said, with consumer revenue also increased from the previous year.