Dell Technologies Inc.’s second quarter earnings came in higher than expected.
The maker of computers and software reported second quarter non-GAAP earnings of $2.15 a share, surpassing analysts’ expectations of $1.47 a share.
Revenue rose +2% year-over-year to reach $23.4 billion in the quarter, also beating the Street estimate of $23.27 billion.
Vice chairman Jeff Clarke emphasized that IT spending remained healthy.
The quarter saw exceptionally strong performance in Dell’s PC segment. Revenue from its PC unit surged +6% from the year-ago quarter to $11.7 billion. Commercial/enterprise revenue soared +12% year-over-year to $9.1 billion in the second quarter. Consumer revenue fell -12%, but that was cushioned by enterprise market – since the latter makes up the larger part of the company’s total PC business.
However, Dell’s storage revenue was flat, while servers and networking sales declined -12%.