Dell: Fiscal 1Q20 Financial Results

Storage revenue for Dell

(in $ million)	1Q19	1Q20	Growth
Revenue	4,082	4,022	*-1%*

Dell Technologies, Inc. announced financial results for its fiscal 2020 first quarter ended May 3, 2019.

Global first quarter revenue was $21.9 billion, up yearly 3%.

Infrastructure solutions group sales for the quarter was $8.2 billion, a 5% decrease Y/Y. This was driven by a 1% decrease in storage revenue to $4.0 billion, representing 18% of total sales, as the firm built backlog given the timing of when storage orders were received, and a 9% decrease in server and networking revenue to $4.2 billion.

Former quarter was much better with $4,636 million in storage. It represents a decrease as high as 15% from 4F19 to 1FQ20.

Storage revenue grew in all four former quarters in FY19 but not here.

Newer software-defined data center solutions and HCI are growing rapidly, including VxRail, which grew triple digits again during the first quarter

The company was especially pleased with its storage growth in China.

To read the earnings call transcript