Dell reports Q1 net income at $938M, up 415% YoY

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Dell Technologies Inc. said on Thursday that its revenue in the first fiscal quarter rose 12% per annum to land at $25.40 billion. Operating income jumped 96% during the same period to $1.38 billion. Net income was up a whooping 415% year-over-year at $938 million, or $1.13 per share. Per segment, Client Solutions Group recorded the highest ever revenue at $13.3 billion, up 20% on a yearly basis, while Infrastructure Solutions Group posted a 5% increase at $7.9 billion. VMware revenue was $3.0 billion for the first quarter, up 9%. “We had record first quarter revenue and operating income, and record trailing 12 month cash flow from operations of $14.4 billion – all driven by strength and execution across all three of our business units. Our focus continues to be on strengthening our capital structure, modernizing our core infrastructure and PC businesses, and continuing to grow in hybrid and private cloud, edge, telecom and as-a-Service,” CEO Tom Sweet stated.