Dell Technologies, the leader in the server market and one of the top three PC manufacturers, has released a report for its first quarter of fiscal 2022. Yes, like many other manufacturers, Dell has a different financial calendar. More precisely, the first quarter of the fiscal year 2022 ended on April 30, 2021.
The released report said that the revenue was $ 24.487 billion. This is 12% more on an annualized basis, which is compared to the first quarter of the 2021 fiscal year, which ended at Dell on May 1, 2020.
Operating income for the year rose from $ 702 million to $ 1.375 billion, or 96%. The growth in net profit was even more impressive. It was 415% as net income rose from $ 182 million to $ 938 million.
In a non-GAAP calculation, revenue growth remains 12% (from $ 21.945 billion to $ 24.499 billion), but operating profit growth is 26% (from $ 2.161 billion to $ 2.714 billion), and net income is 59% (from $ 1.143 billion to $ 1.819 billion). The difference from the GAAP results is mainly attributable to the accounting for payments made on the EMC transaction.