Shares of Dell Technologies (NYSE: DELL) have jumped today, up by 7% as of 12:30 p.m. EDT, after the PC maker announced first-quarter earnings. Demand for PCs remains healthy, as COVID-19 has driven many companies to invest in remote working setups.
Revenue in the first quarter was $21.9 billion, crushing the consensus estimate of $20.8 billion in sales. That led to adjusted net income of $1.1 billion, or $1.34 per share, also well ahead of the $1.01 per share in adjusted profits that analysts were expecting. The Client Solutions Group saw sales increase, but the Infrastructure Solutions Group declined as the enterprise shifted spending toward remote work.
Dell XPS 13. Image source: Dell.
Source Fool.com