Dell Technologies reported mixed first-quarter results on Thursday evening, with revenue beating expectations but earnings falling short.
The company’s adjusted earnings per share (non-GAAP) rose 17% to $1.55 for the quarter ending in early May. Adjusted operating profit increased 10% to nearly $1.67 billion.
Dell’s revenue grew 5% to almost $23.4 billion. This growth was driven largely by strong demand for its AI-optimized servers, said Chief Operating Officer Jeff Clarke.
“We received $12.1 billion in AI-related orders this quarter alone,” Clarke said. “This surpasses the total AI server deliveries from the entire previous fiscal year. Our current order book stands at $14.4 billion.”
Looking ahead, Dell expects adjusted earnings per share to grow 15% to $9.40 for the full fiscal year. The company projects revenue between $101 billion and $105 billion, which would represent about 8% growth at the midpoint.
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