In the first quarter of its broken fiscal year, computer maker Dell took advantage of the demand for computers for people who work from home. As a result, the company sold more PCs and laptops in the period from February to April. Demand for servers declined now that many companies have postponed investments.
In recent years, Dell has moved part of its supply chain from China to other countries to avoid the import duties imposed by President Donald Trump on China. That now seems to be an advantage as Dell performed better than industry competitor HP in terms of results.
As a result, sales of $ 21.9 billion were very similar to sales in the same period last year. Net profit came in at $ 182 million, which was nearly half that of a year earlier.
To cut costs during the corona crisis, Dell has announced a hiring freeze and will no longer be giving pay increases and promotions. The company, which is burdened by a large debt burden, was able to repay $ 5.4 billion during the lockdown period. Dell still has 48.4 billion outstanding.
Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.
