Dell Had Flat Revenue in the Last Quarter
Dell's frist fiscal quarter of the financial year 2021, that ended on May 1, brought solid results considering the global business climate. Despite of COVID-19 pandemic, the company posted flat revenue on a yearly basis.
First quarter revenue was $21.897 billion, only a fragment lower than $21.908 billion made in the same period last year. non-GAAP revenue was at $21.945 billion compared with $21.990 posted in 2019. The company generated operating income of $702 million, a 28 percent increase over the same period in the prior year, and non-GAAP operating income of $2.2 billion, on par with the 2019 result.
Net income was $182 million, non-GAAP net income was $1.1 billion and adjusted EBITDA was $2.6 billion. Net cash used in operating activities was $0.8 billion. Diluted earnings per share was $0.19 and non-GAAP diluted earnings per share was $1.34. Adjusted EBITDA was $2.607 billion, one percent higher than in 2019.
“Customers need essential technology now more than ever to put business continuity, remote working and learning plans into practice,” said Jeff Clarke, vice chairman and chief operating officer at Dell. “In Q1, we saw orders with banking and financial services, government, healthcare and life sciences customers up 15 to 20 percent, all to meet immediate needs of their customers, communities and patients.”