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Dell Technologies (NYSE: DELL) announces financial results for its fiscal 2023 second quarter. Revenue was a second quarter record of $26.4 billion, up 9%, driven by growth across Client Solutions Group (CSG) and Infrastructure Solutions Group (ISG). 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. Diluted earnings per share was $0.68, and non-GAAP diluted earnings per share was $1.68.
Second Quarter Fiscal 2023 Financial Results
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| Three Months Ended |
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| Six Months Ended |
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| July 29, 2022 |
| July 30, 2021 |
| Change |
| July 29, 2022 |
| July 30, 2021 |
| Change |
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| (in millions, except per share amounts and percentages; unaudited) | ||||||||||
Total net revenue | $ 26,425 |
| $ 24,191 |
| 9 % |
| $ 52,541 |
| $ 46,781 |
| 12 % |
Operating income | $ 1,270 |
| $ 1,017 |
| 25 % |
| $ 2,820 |
| $ 2,004 |
| 41 % |
Net income from continuing operations | $ 506 |
| $ 629 |
| (20) % |
| $ 1,575 |
| $ 1,288 |
| 22 % |
Earnings per share - diluted | $ 0.68 |
| $ 0.80 |
| (15) % |
| $ 2.06 |
| $ 1.65 |
| 25 % |
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| Non-GAAP net revenue | $ 26,425 |
| $ 24,199 |
| 9 % |
| $ 52,541 |
| $ 46,797 |
| 12 % |
| Non-GAAP operating income | $ 1,952 |
| $ 1,868 |
| 4 % |
| $ 4,087 |
| $ 3,638 |
| 12 % |
| Non-GAAP net income | $ 1,266 |
| $ 1,166 |
| 9 % |
| $ 2,700 |
| $ 2,221 |
| 22 % |
| Non-GAAP earnings per share - diluted | $ 1.68 |
| $ 1.48 |
| 14 % |
| $ 3.52 |
| $ 2.83 |
| 24 % |
