Dell Technologies Announces Record Financial Results for its Fiscal 2023 Second Quarter
Dell reports strong financial results with record second-quarter revenue
Highlights include:
- Revenue of $26.1 billion, up 16% year-over-year
- Net income of $1.7 billion, up 13% year-over-year
- Diluted earnings per share of $1.68, up 14% year-over-year
Dell Technologies (NYSE: DELL) today announced financial results for its fiscal 2023 second quarter ended July 29, 2023.
Revenue for the quarter was $26.1 billion, an increase of 16% year-over-year. This growth was driven by strong demand for Dell's PCs, servers, and storage products.
Net income for the quarter was $1.7 billion, an increase of 13% year-over-year. Diluted earnings per share were $1.68, an increase of 14% year-over-year.
Dell's strong financial performance in the second quarter was driven by several factors, including:
- Strong demand for PCs, servers, and storage products
- Growth in Dell's services business
- Cost-cutting initiatives
Dell is well-positioned to continue to grow in the future. The company is benefiting from strong demand for its products and services, and it is making investments in new technologies, such as artificial intelligence and machine learning.
In addition to its financial results, Dell also announced that it has appointed Jeff Clarke as its new CEO. Clarke has been with Dell for more than 30 years and most recently served as Dell's chief operating officer.
Clarke is taking over for Michael Dell, who will remain as chairman of the board. Dell said that he is confident in Clarke's ability to lead the company into the future.
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