Dell Technologies Inc. Reports Net Income of $583 Million in Q1 2023

Dell Technologies Inc., ( DELL) a leading technology company, has announced its financial results for the first quarter of 2023. The company reported a net income of $583 million and generated revenue of $20.9 billion during the quarter. These results reflect the company's performance in a dynamic market as it continues to innovate and provide cutting-edge solutions to its customers.

Financial Position Highlights

Dell Technologies Inc. recorded total assets of $84.1 billion as of May 5, 2023, compared to $89.6 billion as of February 3, 2023. The company's current assets decreased from $42.4 billion to $37.4 billion, mainly driven by a decline in cash and cash equivalents and accounts receivable. Additionally, Dell's total liabilities stood at $87 billion, while stockholders' equity amounted to a deficit of $2.9 billion.

Consolidated Statements of Income