Dell Exceeds Forecast For Quarterly Results After Huge Enterprise Demand – – Daily Cryptocurrency and FX News

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Dell Technologies Inc (DELL.N) on May 26 outdid Wall Street estimates for quarterly profit and revenue, as enterprises invested excessively in the company’s laptops and desktops to support hybrid work.

Dell’s shares climbed about 7% in after-hours trading as the PC maker predicted current-quarter profit and revenue above analysts’ expectations. The company has seen increased demand for its products and services over the past few quarters as businesses invest in remote-working equipment and consumers improve their devices.

Dell’s client solutions group (CSG)—home to its hardware units— had its revenue grow 17% in the quarter ended April 29.

Angelo Zino, a senior equity analyst at CFRA Research, stated:

“We attribute this to Dell’s outsized exposure to commercial PCs, which have higher selling prices, while it has minimal exposure to Chromebooks, where most of the pressure has been felt.”

Dell’s commercial PC revenue rose 22% to $12 billion in the quarter. The company, however, added that some impact from supply chain disruptions and the global chip shortage, intensified by the China lockdowns, was witnessed in the quarter.

Jeff Clarke, co-chief operating officer at Dell, in a post-earnings call, commented:

“We expect the backlog to remain elevated through at least Q2 due to current demand and industry-wide supply chain challenges. We expect component costs to turn inflationary and logistics costs remain at elevated levels in Q2.”

The company forecasts revenue to range between $26.1 billion to $27.1 billion in the current quarter and estimated adjusted profit per share of between $1.55 and $1.70. Analysts expect second-quarter revenue of $25.6 billion and a profit of $1.47 per share, Refinitiv IBES data showed.

During the first quarter, the company posted revenue of $26.12 billion and an adjusted profit of $1.84 per share, in comparison to forecasts for revenue of $25.04 billion and a profit of $1.39 per share.

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