Shares of Dell Technologies Inc. (NYSE:DELL) tumbled in pre-market trading despite the company reporting first-quarter revenues that exceeded Wall Street expectations.
What Happened: At the time of writing, Dell was trading at $142.25 after it experienced a significant 16.3% drop in pre-market trading on Friday as per Benzinga Pro. This followed its first quarter financial results announcement after Thursday’s market close.
Although Dell surpassed revenue expectations with a 6% increase year-over-year, reaching $22.24 billion, the company’s stock still faced a sharp decline in the after-market and pre-market. This revenue figure exceeded the consensus estimate of $21.67 billion.
The company’s Infrastructure Solutions Group was a strong performer, with revenue up 22% year-over-year to $9.2 billion. However, the Client Solutions Group’s revenue remained steady at ...