What you need to know
- Dell's strong PC sales helped the company set a second quarter performance record.
- The company reported a revenue increase of 15% compared to the same quarter last year.
- Dell's Client Solutions Group, which includes PC, reported revenue of $14.3 billion and an operating profit of $995 million.
Dell reported a record second quarter on the back of strong PC sales in Q2 2022 (which occurs in calendar year 2021). The PC maker reported revenue of $26.1 billion. That figure is 15% higher than the same quarter in the previous year and surpassed Wall Street's estimates of $25.53 billion (via SiliconANGLE).
Dell's strong second quarter is due largely to the company's growing PC sales. Dell's Client Solutions Group, which PC sales are under, reported an operating income of $995 million on $4.3 billion in revenue during Q2 2022. Consumer PC sales rose 17.3% in the quarter to $3.7 billion, while commercial sales soared 35% to $10.6 billion.
Dell's Latitude and Precision lines did especially well, according to Dell. This increase is likely in part due to the global pandemic forcing more people to work from home. Global events have raised the demand for PCs, and Dell's Latitude and Precision laptops are popular options.
The Infrastructure Solutions Group of Dell also saw a revenue increase in the quarter, though it was a smaller 3% rise. The uptick pushed the group's revenue to $8.4 billion. The operating profit of the Infrastructure Solutions Group was $970 million in the quarter.
According to Dell, server and networking revenue was up by 6%, while storage sales fell 1%.
Dell's second quarter benefitted from a strong performance by VMware, which reported Q2 2022 sales of $3.1 billion, which is an increase of 8% year-over-year.