Dell Technologies Announces Record Revenue for Fiscal 2023

Financial Highlights

Dell Technologies announced its financial results for fiscal 2023, reporting record revenue of $102.3 billion, a 6% increase year-over-year.

The company also reported a net income of $10.2 billion, down 12% from the previous year.

Fiscal 2024 Q1 Revenue Down 20%

Dell Technologies reported revenue of $20.9 billion for its fiscal 2024 first quarter, a 20% decrease compared to the same period last year.

The company attributed the decline to a slowdown in PC demand and macroeconomic headwinds.

Key Business Updates

Infrastructure Solutions Group Revenue Up

Dell Technologies' Infrastructure Solutions Group, which includes servers, storage, and networking products, saw a revenue increase of 10% to $36.1 billion for fiscal 2023.

The growth was driven by strong demand for hybrid cloud and edge computing solutions.

PC and Client Solutions Group Revenue Down

The company's PC and Client Solutions Group, which includes laptops, desktops, and workstations, experienced a 16% revenue decline to $50.2 billion for fiscal 2023.

The decline was attributed to a decrease in PC shipments amid a post-pandemic slowdown in demand.

Outlook for Fiscal 2024

Dell Technologies expects revenue for fiscal 2024 to be in the range of $94 billion to $98 billion, reflecting the impact of macroeconomic uncertainty.

The company is focused on driving growth through its Infrastructure Solutions Group and investing in key areas such as cloud, multi-cloud, and edge computing.