Submitted by Antony Savvas on August 26, 2022
Dell Technologies reports its second quarter saw a 9% annual revenue increase to $26.4 billion. For the three months ending 29 July, operating income increased by a quarter (25%) to $1.3 billion, representing 4.8% of revenue.
Net income from continuing operations was $506m, up 9%.
The Client Solutions Group delivered second quarter record revenue of $15.5 billion, up 9% year-over-year. Commercial revenue was $12.1 billion, a 15% increase year-over-year, but consumer revenue dropped to $3.3 billion, down 9% annually. Operating income for the whole segment was $1 billion, or approximately 6.3% of Client Solutions Group revenue.
The Infrastructure Solutions Group also delivered record second quarter revenue, this time of $9.5 billion, up 12% and its sixth consecutive quarter of year-over-year growth. Storage revenue was $4.3 billion, up 6%. Servers and networking revenue was $5.2 billion, up 16%. Total operating income in the segment was $1 billion, or around 11% of Infrastructure Solutions Group revenue.
Total group recurring revenue for the second quarter was $5.2 billion, up 8% annually.
"We delivered strong CSG and ISG growth and profitability, although we observed more cautious customer behaviour as the quarter progressed," said Chuck Whitten, co-chief operating officer of Dell Technologies. "Customers continue to prioritise advanced technology solutions to compete and succeed in the years ahead, and we are confident in our long-term opportunities."