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Dell: IT upgrades fuel first quarter

On the heels of a strong report from HP, Dell turns in a stronger-than-expected quarter. The company expects the second quarter to resume normal seasonal patterns.

Riding a cycle of corporate PC and server upgrades, Dell reported stronger-than-expected first-quarter results.

The company reported net income of $441 million, or 22 cents a share, on revenue of $14.87 billion, up 21 percent from a year ago (statement). Given HP's strong results, Dell's earnings weren't that much of a surprise. Dell's non-GAAP earnings were 30 cents a share. Wall Street was expecting Dell to report earnings of 26 cents a share on revenue of $14.27 billion.

As for the outlook, Dell said that the second quarter is likely to resume normal seasonal patterns. That means sequential growth in the low single digits in the second quarter. The company also said that supplies remain tight.

Read more of "Dell: Corporate IT upgrade cycle fuels first quarter" at ZDNet's Between the Lines.