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DELL TECHNOLOGIES INC. |
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Condensed Consolidated Statements of Income (Loss) and Related Financial Highlights |
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(in millions, except percentages; unaudited) |
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Three Months Ended |
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May 3, 2019 |
May 4, 2018 |
Change |
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Net revenue: |
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Products |
$ |
16,754 |
$ |
16,671 |
—% |
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Services |
5,154 |
4,685 |
10% |
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Total net revenue |
21,908 |
21,356 |
3% |
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Cost of net revenue: |
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Products |
13,079 |
13,606 |
(4)% |
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Services |
2,032 |
1,872 |
9% |
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Total cost of net revenue |
15,111 |
15,478 |
(2)% |
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Gross margin |
6,797 |
5,878 |
16% |
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Operating expenses: |
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Selling, general, and administrative |
5,071 |
4,944 |
3% |
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Research and development |
1,176 |
1,087 |
8% |
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Total operating expenses |
6,247 |
6,031 |
4% |
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Operating income (loss) |
550 |
(153) |
459% |
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Interest and other, net |
(693) |
(470) |
(47)% |
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Loss before income taxes |
(143) |
(623) |
77% |
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Income tax benefit |
(472) |
(85) |
(455)% |
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Net income (loss) |
329 |
(538) |
161% |
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Less: Net income attributable to non-controlling interests |
36 |
98 |
63% |
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Net income (loss) attributable to Dell Technologies Inc. |
$ |
293 |
$ |
(636) |
146% |
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Percentage of Total Net Revenue: |
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Gross margin |
31 |
% |
28 |
% |
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Selling, general, and administrative |
23 |
% |
23 |
% |
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Research and development |
5 |
% |
5 |
% |
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Operating expenses |
29 |
% |
28 |
% |
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Operating income (loss) |
3 |
% |
(1) |
% |
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Loss before income taxes |
(1) |
% |
(3) |
% |
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Net income (loss) |
2 |
% |
(3) |
% |
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Income tax rate |
330.1 |
% |
13.6 |
% |
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Dell Technologies Reports First Quarter Fiscal 2020 Financial Results
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