Dell sales rise on strong office PC growth

Bloomberg

Dell Technologies Inc surged the most in two years after reporting quarterly revenue that topped analysts estimates on strong demand for business PCs and networking services, a sign that companies have been
upgrading their systems as workers return to the office.
The shares jumped 13% to $49.58 in New York, the largest single-day rally since March 2020. Dell’s stock has fallen about 12% this year, which is less than many of its tech-sector peers.
Sales climbed 16% to $26.1 billion in the fiscal first quarter, which ended April 29. Analysts, on average, projected $25 billion, according to data compiled by Bloomberg. Revenue was bolstered by a 22% rise to $12 billion from commercial PCs, one of Dell’s highest-grossing products, the Round Rock, Texas-based company said. Profit, excluding some items, was $1.84 a share, also topping analyst estimates.
Co-Chief Operating Officer Jeff Clarke, said, “we are built to outperform, in a balanced and consistent way across the company.”