Dell Falls Most Since 2018 After AI Server Sales Disappoint
- Company reports first quarterly revenue gain in two years
- The stock more than tripled in past 12 months on AI excitement
The Dell Technologies campus in Round Rock, Texas.
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Dell Technologies Inc. fell the most since it returned to the public market in 2018 after its first revenue increase since 2022 wasn’t enough to impress investors with high expectations for the company’s AI server business.
Sales increased 6.3% to $22.2 billion in the period ended May 3, the Round Rock, Texas-based company said Thursday in a statement. Analysts, on average, estimated $21.6 billion. Profit, excluding some items, was $1.27 a share, compared with the average projection of $1.23.