Dell's Q1 profit drops less than expected, but stock rises on strong sales performance.
Dell Technologies Inc beat estimates for Q1 profit due to better cost controls, despite a 20% drop in revenue to $20.92bn. The company's client solutions unit saw a 23% fall in sales, while the infrastructure solutions unit saw an 18% decline. Dell expects Q2 revenue to be between $20.2bn and $21.2bn, below expectations of $21.2bn at midpoint, and warns that IT spending will remain cautious.