Dell Technologies Reports First Quarter Fiscal 2020 Financial Results

ROUND ROCK, Texas, May 30, 2019 — (PRNewswire) —

Dell Technologies

News summary

  • First quarter revenue of $21.9 billion, up 3 percent; non-GAAP first quarter revenue of $22.0 billion, up 2 percent
  • Operating income of $550 million; non-GAAP operating income of $2.2 billion
  • Diluted earnings per share of $0.38; non-GAAP diluted earnings per share of $1.45

Full story

Dell Technologies (NYSE: DELL) today announced financial results for its fiscal 2020 first quarter ended May 3, 2019. First quarter revenue was $21.9 billion, up 3 percent, and non-GAAP revenue was $22.0 billion, up 2 percent over the same period in the prior year. The company generated operating income of $550 million1, compared to an operating loss of $153 million last year, and non-GAAP operating income of $2.2 billion, compared to $2.0 billion last year. Net income was $329 million or 1.5 percent of revenue, non-GAAP net income was $1.2 billion or 5.5 percent of non-GAAP revenue, and adjusted EBITDA was $2.6 billion or 11.7 percent of non-GAAP revenue. Cash flow from operations was approximately $682 million for the quarter with diluted earnings per share of $0.38 and non-GAAP diluted earnings per share of $1.45.

"We're in the middle of a technology led investment cycle that's fueled by the explosion of data," said Jeff Clarke, vice chairman, Dell Technologies. "No one is better positioned to deliver the solutions customers need to grow in the data era. One example is our new Dell Technologies Cloud platform jointly engineered with VMware to expedite customers' moves to hybrid cloud environments."

Unveiled at Dell Technologies World earlier in the quarter, the Dell Technologies Cloud combines the power of VMware and Dell Technologies to make hybrid cloud environments simpler to deploy and manage with consistent infrastructure, operations, and services. Dell Technologies Cloud seamlessly extends from the public cloud into the data center with the option of hyperconverged or converged infrastructure, including VMware Cloud Foundation on VxRail, as well as being able to be consumed as a fully managed Data Center-as-a-Service, VMware Cloud on Dell EMC.

Also at Dell Technologies World 2019, the company extended its leadership in edge computing with the announcement of Unified Workspace, which integrates solutions across Dell devices and services, VMware Workspace ONE, and Secureworks to simplify the entire device lifecycle for IT.

First Quarter Fiscal 2020 Financial Results

 

Three Months Ended

 
 

May 3, 2019

 

May 4, 2018

 

Change

 

(in millions, except percentages; unaudited)

Total net revenue

$

21,908

 

$

21,356

 

3%

Operating income (loss)

$

550

 

$

(153)

 

459%

Net income (loss)

$

329

 

$

(538)

 

161%

           

Non-GAAP net revenue

$

21,990

 

$

21,543

 

2%

Non-GAAP operating income

$

2,196

 

$

2,026

 

8%

Non-GAAP net income

$

1,209

 

$

1,179

 

3%

Adjusted EBITDA

$

2,573

 

$

2,383

 

8%

 

Information about Dell Technologies' use of non-GAAP financial information is provided under "Non-GAAP Financial Measures" below. All comparisons in this press release are year-over-year unless otherwise noted.


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