Dell Technologies Shares Rise 12% Premarket After 1Q Sales Jump

By Dean Seal

Shares of Dell Technologies Inc. rose 12% to $49.37 in premarket trading Friday after the company reported higher first-quarter sales and lower operating expenses.

The computer equipment maker said revenue increased to $26.12 billion in the quarter ended April 29, up from $22.59 billion in the same period a year earlier and ahead of analyst expectations of $25 billion, according to FactSet.

Net income for the quarter climbed to $1.07 billion, or $1.37 a share, from $938 million, or 84 cents a share, last year.

Stripping out one-time items, adjusted earnings were $1.84 a share. Analysts surveyed by FactSet had expected adjusted earnings of $1.39 a share.

The Round Rock, Texas-based company said that its selling, general and administrative expenses fell to $3.55 billion from $3.66 billion, while total operating expenses declined to $4.23 billion from $4.28 billion.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

May 27, 2022 06:51 ET (10:51 GMT)

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