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☆ Dell's first-quarter results fall less than feared on cost cuts
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

The stock was halted after the company announced results during regular trading hours, earlier than its schedule for an after-market release. "We maintained pricing discipline, reduced operating expenses, and our supply chain continued to perform well after normalizing ahead of competitors," said Chuck Whitten, co-chief operating officer of Dell. Total operating expenses reduced 6% to $3.57 billion during the quarter. First-quarter revenue fell 20% to $20.92 billion, compared with analysts' expectations of $20.27 billion, according to Refinitiv data. Dell's client solutions unit - home to its consumer and enterprise PC business - posted a 23% fall in sales, while the infrastructure solutions unit, which includes servers, storage devices and networking hardware, saw an 18% decline.

Persons: Chuck Whitten, Dell, Tiyashi Datta, Mariam Sunny, Pratyush Thakur, Devika Organizations: Dell Technologies Inc, HP Inc, Lenovo Group, HK, Dell, Thomson Locations: Bengaluru

"We maintained pricing discipline, reduced operating expenses, and our supply chain continued to perform well after normalizing ahead of competitors," said Chuck Whitten, co-chief operating officer of Dell. Total operating expenses fell 6% to $3.57 billion during the first quarter. The company's revenue dropped 20% to $20.92 billion, but came in above analysts' expectations of $20.27 billion, according to Refinitiv data. Dell's client solutions unit - home to its consumer and enterprise PC business - posted a 23% fall in sales, while the infrastructure solutions unit, which includes servers, storage devices and networking hardware, saw an 18% decline. The Texas-based company expects second-quarter revenue to be between $20.2 billion and $21.2 billion, below expectations of $21.2 billion at midpoint.

Persons: Chuck Whitten, Dell, Tiyashi Datta, Mariam Sunny, Pratyush Thakur, Devika Organizations: Dell Technologies Inc, HP Inc, Lenovo Group, HK, Dell, Thomson Locations: Texas, Bengaluru

☆ Dell's tepid outlook casts pall over strong quarter
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Dell laptop is seen for sale in a store in Manhattan, New York City, U.S., November 24, 2021. Meanwhile, revenue from the commercial and consumer units, which indicate PC demand, was down 17% and 40%, respectively. Dell forecast first-quarter revenue to decline between 17% and 21%. Dell's full-year profit and revenue forecast also disappointed Wall Street even as the lifting of lockdowns in China was expected to ease supply chain pressures and reduce component and freight costs. Separately, Dell said Chief Financial Officer Tom Sweet would retire by the end of its fiscal second quarter, and named company veteran Yvonne McGill as his successor.

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