DELL Reports Strong Financial Performance in Fiscal 2024 Q1

Robust Growth Across all Business Segments

Quarterly Highlights

ROUND ROCK, Texas, May 30, 2024 - DELL Technologies Inc. (NYSE: DELL) today announced financial results for its fiscal 2025 first quarter ended April 29, 2024.

Dell reported strong quarterly revenue of $26.4 billion, representing a 5% increase year-over-year. This growth was driven by solid performance across all business segments, including Client Solutions, Infrastructure Solutions, and VMware.

Client Solutions revenue increased by 3% to $15.2 billion, driven by strong demand for laptops and desktops. Infrastructure Solutions revenue grew by 6% to $9.2 billion, with notable growth in server and storage solutions.

VMware, a leading provider of cloud computing and virtualization software, reported revenue of $3.3 billion, a 4% increase year-over-year. VMware continues to expand its cloud services offerings and gain market share in the enterprise segment.

Full Year Highlights

In addition to the quarterly results, Dell also announced its financial performance for the full fiscal year 2024.

For the year, Dell reported revenue of $101.2 billion, a 4% increase from fiscal 2023. Client Solutions revenue increased by 2%, Infrastructure Solutions revenue grew by 5%, and VMware revenue increased by 3%.

Dell's net income for fiscal 2024 was $10.9 billion, a 6% increase from the previous year. The company's diluted earnings per share (EPS) were $4.36, a 7% increase.

"Our strong performance in the first quarter of fiscal 2025 reflects the continued execution of our strategy to deliver innovative solutions to our customers," said Michael Dell, Chairman and CEO of Dell Technologies. "We are well-positioned to continue driving growth and value for our stakeholders in the coming quarters."