Dell Stock Plunges Despite Q1 Beat: What To Know

Dell stock is tanking after the PC maker beat Q1 estimates but issued a mixed outlook for its second quarter. Here's what you need to know.

closeup of dell vxrail server
(Image credit: Jakub Porzycki/NurPhoto via Getty Images)

Dell Technologies (DELL) stock is trading down more than 20% Friday after the PC maker's appearance on the earnings calendar. While Dell exceeded top- and bottom-line expectations for its fiscal first quarter, it issued mixed guidance for its second quarter.

In the three months ended May 3, Dell's revenue increased 6% year-over-year to $22.2 billion, driven by a 42.4% jump in servers and networking revenue. The company said earnings per share (EPS) decreased 3% from the year-ago period to $1.27. 

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Joey Solitro
Contributor

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.