Source: Zhitong Finance
At the opening of the US stock market on Friday, $Dell Technology (DELL.US) $ rose more than 17%, Q1 revenue of $26.1 billion hit a new high, and net profit increased by 62% year-on-year to $1.1 billion.
Bank of America analyst Wamsi Mohan raised Dell’s price target to $67 from $65 and maintained a “buy” rating on the stock. Analysts pointed out that the company’s total revenue and adjusted earnings per share in the first quarter, as well as performance guidance, all exceeded analysts’ consensus expectations. The analyst said he was optimistic about Dell’s revenue growth despite a more cautious enterprise demand environment and expected the company to gain market share in PCs, servers and storage.
According to the financial report, Dell’s total revenue in the first quarter increased by 16% year-on-year to $26.1 billion, exceeding analysts’ consensus forecast of $25.2 billion; adjusted earnings per share were $1.84, compared with analysts’ consensus forecast of $1.39. In addition, the company said it expects revenue of $26.1 billion to $27.1 billion for the period ending in July, or the second quarter, better than the average analyst estimate of $25.5 billion; The $1.70 range also exceeded analysts’ consensus forecast of $1.45.
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