Dell: Fiscal 1Q25 Financial Results

For storage only

(in $ million)	1FQ24	1FQ25
Revenue	3,756	3,761
*Growth*		0%

Dell Technologies, Inc. announces financial results for its fiscal 2025 first quarter.

Global revenue was $22.2 billion, up 6% Y/Y.

Storage revenue was flat Y/Y at $3.8 billion and down 16% Q/Q.

In this business, the company announced software updates to PowerStore which now includes the availability of QLC. PowerStore software updates give new and existing customers up to a 66% performance boost and native sync replication for file and block.

During the quarter, the firm saw demand strength in HCI, PowerMax, PowerStore, and PowerScale. ISG operating income was 8% of revenue and $736 million, down 1%. 1FQ25 is seasonally company’s lowest profitability quarter in ISG given storage seasonality, and Dell expect ISG operating margin to improve as the year progresses.

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%
FY20	16,767	-0%
FY21	16,091	-4%
FY22	16,465	0%
1FQ23	4,237	9%
2FQ23	4,327	6%
3FQ23	4,429	11%
4FQ23	4,965	10%
FY23	17,958	9%
1FQ24	3,756	-11%
2FQ24	4,187	-3%
3FQ24	3,843	-13%
4FQ24	4,475	-10%
FY24	16,261	-10%
1FQ25	3,761	0%

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

Earnings call transcript