Dell Technologies Surpasses Expectations, Boosts Full-Year Revenue Guidance as AI-Optimized Server Orders Drive Growth from cloud jpg Watch Video
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⏲ Duration: 0:38 👁 View: 1.2M times ✓ Published: 01-Jun-2024
Description: Dell Technologies exceeded analysts' expectations for fiscal first-quarter revenue and earnings and raised its full-year revenue guidance. Dell's AI-optimized server orders increased significantly but the company's gross margins declined due to competitive pricing and a higher mix of AI servers. Dell's AI server backlog is primarily made up of orders for Nvidia-based servers as the company works through supply chain issues. The backlog also includes large cloud customers. Extended trading saw Dell's stock price drop over 18% following the earnings call.