Dell: Fiscal 2Q23 Financial Results

Dell Technologies, Inc. announces financial results for its fiscal 2023 second quarter.

It delivered record second quarter global revenue of $26.4 billion, up 9%, driven by continued growth across client and infrastructure business units.

Revenue for storage only

(in $ million)	3Q22	1Q23	Q/Q growth	2Q23	Q/Q growth
Revenue	4,070	4,237	4%	4,327	2%

Servers and networking grew Y/Y 16% and storage grew 6%, firm’s 7th consecutive quarter of servers and networking growth and its 5th consecutive quarter of demand growth in storage.

The company is pleased with its storage performance. It’s the 5th consecutive quarter of demand growth in storage and that streak is now extended to the P&L. It’s 6% growth in 2FQ23 after 9% growth in 1FQ23, so that’s 8% growth for 1FH23.

In 2FQ23, Dell saw modest storage demand growth with strength in the high end and in its marquee mid-range product PowerStore, which grew double digits, and has grown every single quarter since launch.

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	0%
2FQ22	3,970	-1%
3FQ22	3.895	1%
4FQ22	4,499	-0%
FY22	16,465	0%
1FQ23	4,237	9%
2FQ23	4,327	6%

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

Earnings call transcript