Dell Reports 88% Revenue Increase, AI Server Sales Rise 757%
Dell Technologies posted first-quarter revenue growth of nearly 88% year over year. AI server revenue reached $16.1 billion, up 757% from the prior year.
citizen.co.zaDell Technologies reported first-quarter revenue that rose nearly 88% from a year earlier, the fastest pace of growth since the company returned to public markets in 2018. 1 billion, an increase of 757% from the same quarter last year. The company attributed the gain to demand for servers containing graphics processing units.
94. The results were released after market close on Thursday.
Dell rose 32% on Friday and were on pace for the largest single-day gain in the company's history as a public company. Morgan Stanley analysts stated they had expected a smaller beat and wrote that their price target and model are now under review.
Key Facts
Story Timeline
3 events- Thursday after market close
Dell released first-quarter earnings showing 88% revenue growth.
1 sourceCNBC - Friday
Dell shares rose 32% during trading.
1 sourceCNBC - Friday
Morgan Stanley analysts said their model and price target are under review.
1 sourceCNBC
Potential Impact
- 01
Dell shares traded at a 32% gain on the first trading day after the earnings release.
- 02
Morgan Stanley placed its Dell price target and financial model under review.
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