Why Dell Stock Surged Today
Shares of Dell Technologies (NYSE: DELL) climbed 12.9% on Friday after the computer maker reported strong sales and profit growth.
Dell's revenue jumped 16% year over year to $26.1 billion in its fiscal 2023 first quarter, which ended on April 29. The gains were broad-based. Sales in Dell's Infrastructure Solutions Group -- which provides servers, storage, and networking solutions to corporate clients -- grew by 16% to $9.3 billion. Sales in the company's Client Solutions Group, which sells personal computers (PCs), increased 17% to $15.6 billion.
Commercial PC sales were a particularly strong source of growth. Dell's commercial PC revenue leaped 22% to $12 billion, as businesses increased their orders as more of their employees returned to traditional workplaces.
Source Fool.com
