#Shift technologies earnings call software
In storage, we saw continued demand growth in PowerStore, our marquee midrange offering, and in PowerFlex, our leading software defined storage solution. The CSG business performed sequentially better than our expectations at the time of our Q4 earnings call, and we did see some early signs of demand stabilization in commercial PCs in our small and medium business segments and across our transactional business. That said, we did see pockets of stronger demand performance worth noting: We continued to see demand softness across our major lines of business, all regions, all customer sizes, and most verticals. At the summary level, we delivered revenue of $20.9 billion, operating income of $1.6 billion, diluted EPS of $1.31 and cash flow from operations of $1.8 billion.Ĭonsistent with our commentary in recent quarters, the demand environment remains challenged and customers are staying cautious and deliberate in their IT spending. Our Q1 results demonstrate our strong execution and the power of our model in what remains an uncertain macroeconomic environment.
#Shift technologies earnings call update
We assume no obligation to update our forward-looking statements. Actual results and events could differ materially from those projected due to a number of risks and uncertainties, which are discussed in our webdeck and SEC filings.
Statements made during this call that relate to future results and events are forward-looking statements, based on our current expectations. Growth percentages refer to year-over-year change, unless otherwise specified. A reconciliation of these measures to their most directly comparable GAAP measures can be found in our webdeck and our press release. Guidance will be covered on today's call.ĭuring this call, unless otherwise indicated, all references to financial measures refer to non-GAAP financial measures, including non-GAAP gross margin, operating expenses, operating income, net income, and diluted earnings per share. Our earnings materials are available on our IR website and I encourage you to review our materials and presentation, which includes additional content to complement our discussion this afternoon. With me today are Jeff Clarke, Chuck Whitten, Tom Sweet, Yvonne McGill and Tyler Johnson. I'd like to turn the call over to Rob Williams, Head of Investor Relations. Following prepared remarks, we will conduct a question-and-answer session. Any rebroadcast of this information in whole or part without the prior written permission of Dell Technologies is prohibited. This broadcast is the copyrighted property of Dell Technologies Inc. I'd like to inform all participants this call is being recorded at the request of Dell Technologies. Good afternoon, and welcome to the Fiscal Year 2024 First Quarter Financial Results Conference Call for Dell Technologies Inc. Tyler Johnson - Senior Vice President & Treasurer Jeff Clarke - Vice Chairman and Co-Chief Operating Officer
Rob Williams - Head of Investor RelationsĬhuck Whitten - Co-Chief Operating Officer ( NYSE: DELL) Q1 2024 Earnings Conference Call J4:30 PM ET
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