Monday, February 6, 2023

Dell’s Profit Shrinks in the First Quarter

NetworkWorld: Dell reported disappointing results for its first fiscal quarter. Net income was $535 million, down 33 percent compared to the previous year. Earnings per share came in at $0.43, falling short of the $0.46 predicted by Wall Street. Revenue totaled $14.4 billion, down 4 percent year-over-year.

The lone bright spot in Dell’s financial report was its Small and Medium Business division, which posted 4 percent revenue growth.

The company has been struggling as it attempts to shift its focus from consumer products to enterprise products, but it remains the world’s third largest PC maker.

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