Dell Technologies(US:DELL)2025-05-29 20:07Financial Performance - Dell Technologies reported first-quarter revenue of $23.4 billion, representing a 5% year-over-year increase[4] - Non-GAAP diluted EPS for the first quarter was $1.55, up 17% year-over-year, while GAAP diluted EPS remained flat at $1.37[4] - Full-year FY26 revenue is expected to be between $101.0 billion and $105.0 billion, reflecting an 8% year-over-year increase at the midpoint[6] - Second-quarter FY26 revenue guidance is between $28.5 billion and $29.5 billion, indicating a 16% year-over-year growth at the midpoint[6] - Total net revenue for the three months ended May 2, 2025, was $23,378 million, representing a 5% increase from $22,244 million in the same period last year[39] - Non-GAAP net income for the three months ended May 2, 2025, was $1,086 million, a 13% increase from $959 million in the prior year[39] - Dell Technologies Inc. reported a diluted earnings per share of $1.37 for the three months ended May 2, 2025, unchanged from the same period last year[45] - Non-GAAP earnings per share increased by 17% to $1.55, compared to $1.32 in the prior year[45] - For the upcoming three months ending August 1, 2025, the company projects diluted earnings per share of $1.85[52] - The fiscal year ending January 30, 2026, is expected to yield a diluted earnings per share of $7.99[52] - The company anticipates total non-GAAP earnings per share of $2.25 for the upcoming quarter and $9.40 for the fiscal year[52] Cash Flow and Shareholder Returns - The company achieved record cash flow from operations of $2.8 billion, a 168% increase compared to the previous year[7] - Cash flows from operating activities totaled $2,796 million, significantly higher than $1,043 million in the same period last year[27] - Free cash flow reached $2,228 million, representing a 388% increase from $457 million in the same quarter last year[49] - Adjusted free cash flow also saw significant growth, rising 258% to $2,232 million from $623 million year-over-year[49] - The company returned a record $2.4 billion to shareholders in the first quarter through share repurchases and dividends[3] - The company repurchased $1,980 million of common stock during the quarter, compared to $700 million in the same period last year[27] Segment Performance - The Infrastructure Solutions Group (ISG) generated $10.3 billion in revenue, up 12% year-over-year, with servers and networking revenue reaching a record $6.3 billion, up 16%[5] - Commercial Client revenue was $11.0 billion, up 9% year-over-year, while Consumer revenue decreased by 19% to $1.5 billion[5] - Infrastructure Solutions Group (ISG) net revenue increased by 12% to $10,317 million, with operating income rising 36% to $998 million, accounting for 60% of total reportable segment operating income[30] - Client Solutions Group (CSG) net revenue grew by 5% to $12,509 million, but operating income decreased by 16% to $653 million, representing 40% of total reportable segment operating income[30] Assets and Liabilities - Total current assets increased to $42,925 million from $36,229 million, driven by higher cash and cash equivalents, which rose to $7,700 million[25] - Total liabilities increased to $89,893 million from $81,133 million, with long-term debt rising to $23,936 million from $19,363 million[25] Strategic Focus - Dell Technologies Inc. continues to focus on strategic investments and potential acquisitions, although specific estimates for future transactions are not provided[53] - Dell received $12.1 billion in AI orders during the quarter, surpassing total shipments for the entire fiscal year 2025[2]