Dell Technologies Non-GAAP EPS of $1.27 misses by $0.02, revenue of $22.2B beats by $550M

• Dell Technologies (NYSE:DELL): Q1 Non-GAAP EPS of $1.27 misses by $0.02.
• Revenue of $22.2B (+6.2% Y/Y) beats by $550M.
• Infrastructure Solutions Group (ISG) revenue of $9.2 billion, up 22% year over year, with record servers and networking revenue of $5.5 billion, up 42%
• Client Solutions Group (CSG) revenue of $12.0 billion, flat year over year, with commercial client revenue at $10.2 billion, up 3%
• Diluted earnings per share of $1.32, up 67% year over year

Dell Technologies tumbled 13% in extended-hours trading even as the IT giant reported fiscal first-quarter results that were largely in-line with expectations.

For the period ending May 3, Dell earned an adjusted $1.27 per share on $22.24B in revenue.

Of the company's two units, Client Solutions Group generated $12B billion in revenue, flat year-over-year. Operating income for the unit was $732M. Dell's Infrastructure Solutions Group delivered $9.2B in revenue for the fourth quarter, up 22% year-over-year. Operating income was $736M.

A consensus of analysts expected the company to earn $1.29 per share on $21.65B in sales.

“We again demonstrated our ability to execute and deliver strong cash flow, with AI continuing to drive new growth,” said Dell Chief Financial Officer Yvonne McGill in a statement. “Revenue was up 6% at $22.2 billion, servers and networking revenue was up 42%, and we generated $7.9 billion of cash flow from operations over the last 12 months.”