Dell: Fiscal 1Q22 Financial Results

(in $ million)	1FQ21	1FQ22
Revenue for storage only	4,487	4,409
*Growth*		-1%

Dell Technologies, Inc. announces record financial results for its fiscal 2022 first quarter.

First quarter global revenue of $24.5 billion is up 12%, driven by growth across Infrastructure Solutions, Client Solutions and VMware business units

Infrastructure Solutions Group revenue for 1FQ22 was $7.9 billion, up 5%, as customers accelerate their IT investments with focus on hybrid cloud solutions. Servers and networking revenue was $4.1 billion, up 9%, and storage revenue was $3.8 billion. Operating income was $788 million for the first quarter, up 8%, or 10% of Infrastructure Solutions Group revenue.

Consequently, storage sales are down for sixth consecutive quarters, flat (-1%) compared to last year, but down 14% Q/Q.

Nevertheless, the company notes strong orders growth in HCI and mid-range, up 23% each, driven by VxRail and Powerstore continued growth.

Storage buyers were up 12% Y/Y, driven by PowerStore.

The company said in was ranked ≠1 by IDC in the following categories:

external entreprise storage with 26.3% share
storage software with 12.0% share
AFA with 30.1% share
HCI with 32.6% share
purpose-built backup appliance with 42.3% share

Storage revenue of Dell
(in $ million)

Period	Revenue	Y/Y growth
FY11*	2,295	5%
FY12*	1,943	-15%
FY13*	1,699	-13%
FY14*	1,518	-11%
FY15*	1,437	-5%
FY16*	2,217	54%
FY17**	8,942	303%
FY18	15,254	+71%
FY19	16,767	+10%
1FQ20	4,022	-1%
2FQ20	4,184	0%
3FQ20	4,184	+8%
4FQ20	4,487	-3%
FY20	16,767	-0%
1FQ21	3,758	-7%
2FQ21	4,011	-4%
3FQ21	4,149	-7%
4FQ21	4,409	-2%
FY21	16,091	-4%
1FQ22	3,802	-1%

* Without EMC
**without EMC for 1FQ17 and 2FQ17 following acquisition for $63 billion

Earnings call transcript