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5 Reasons Why Dell’s Stock Is Up After Earnings

Dell Technologies stock is up more than 6 percent on Friday after the company reported flat revenue growth during its first fiscal quarter earnings Thursday night. Here’s why Dell’s stock is on the rise.

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Why Dell’s Stock Jumped 6%

The worldwide market leader in storage, servers and hyperconverged infrastructure reported its fiscal first quarter results Thursday night which is driving Dell Technologies’ stock up more than 6 percent on Friday.

The Round Rock, Texas-based $91 billion company is navigating its way through the coronavirus pandemic, which is causing a drop in global IT hardware spending and forcing many IT companies, including Dell, to make cuts to operational expenses.

Dell Technologies reported flat year-over-year revenue growth of $21.9 billion for its first fiscal quarter 2021, which ended May 1. So why is Dell’s stock currently up 6 percent at $48.42 per share as of Friday morning? CRN breaks down the five reasons why Dell’s stock is on the rise.

 
 
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