: Dell stock jumps after early earnings release shows largest sales decline on record, but still beats expectations

June 1, 2023

Dell Technologies Inc.’s revenue plunged in the fiscal first quarter by the largest percentage on record for the company, but the results still easily beat diminished expectations and sent shares higher in Thursday trading.

Dell DELL reported first-quarter earnings of $578 million, or 79 cents a share, on sales of $20.9 billion, down nearly 20% from $26.12 billion a year ago. Dell had not reported a sales decline higher than 13.9% since returning to the public markets in 2016, according to FactSet records.

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