Computer hardware giant Dell Technologies (DELL) late Thursday smashed analyst estimates for its fiscal first quarter, thanks to strong commercial PC sales. Dell stock jumped in extended trading.
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The Round Rock, Texas-based company earned an adjusted $1.84 a share on sales of $26.12 billion in the quarter ended April 29. Analysts polled by FactSet expected Dell earnings of $1.39 on sales of $25.03 billion. On a year-over-year basis, Dell earnings rose 36% as sales increased 16%.
Dell’s infrastructure solutions sales rose 16% to $9.3 billion, led by gains in servers and networking.
Dell’s personal computer sales increased 17% to $15.6 billion. Commercial PC sales jumped 22% to $12 billion in the first quarter while consumer PC sales inched up 3% to $3.6 billion.
Dell Stock Rises Late
In after-hours trading on the stock market today, Dell stock popped 5.3% to 46.26. During the regular session Thursday, Dell stock advanced 1.5% to close at 43.93.
“Our first quarter — with record Q1 revenue, operating income and diluted EPS — demonstrates the benefits of having a strong, geographically and sector-diverse business covering the edge to the core data center to the cloud,” Chuck Whitten, co-chief operating officer, said in a news release.
Dell did not give guidance for the current quarter in its earnings news release.
Dell stock ranks fourth out of 13 stocks in IBD’s computer hardware and peripherals industry group, according to IBD Stock Checkup. It has a subpar IBD Composite Rating of 42 out 99.
IBD’s Composite Rating is a blend of key fundamental and technical metrics to help investors gauge the strengths of Dell stock and others. The best growth stocks have a Composite Rating of 90 or better.
Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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