What They Say

Dell & HP announced their quarterly results.

Dell was up 9% on last year to $26.4 billion in the quarter to the end of July with good sales in client and infrastructure solutions. Operating income was $1.3 billion, up 25%, representing 4.8% of revenue, and non-GAAP operating income was $2 billion, up 4%, representing 7.4% of revenue. Net income from continuing operations was $506 million and non-GAAP net income was $1.3 billion.

HP said that its fiscal 2022 Q3 revenue was down 4.1% (1.9% in constant currency) at $14.7 billion. GAAP net earnings were $1.1 billion (+1%) with operating margin down from 9.0% to 8.7%.

What We Think

Apologies, I was a bit late to get to these numbers. There have, no doubt, been some harsh words at HP and some crowing at Dell about such different results in the same period. (BR)