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Dell and HP boosted by work-at-home office demand

Laptop sales beat expectations for both consumer hardware brands.

HP Inc - Dell and HP boosted by work-at-home office demand
Image source: Twitter / @Dell

Dell Inc (NTYSE:DELL) and HP Inc (NYSE:HPQ) stock is rising early on Friday as demand for laptops and at-home office equipment saw strong quarterly results.

Both consumer-facing hardware brands beat market expectations for the second quarter.

Reporting a quarterly profit of US$1.92 per share Dell exceed consensus expectations by are 52 cents, meanwhile, HP’s per share performance was about 6 cents ahead of forecasts at 49 cents.

“We provide the technology solutions customers need to be productive and collaborative no matter where they work or learn,” said Jeff Clarke, Dell chief operating officer.

“In Q2, we saw strength in the government sector and in education, with orders up 16 and 24 percent, respectively, as parents, teachers and school districts prepare for a new frontier in virtual learning.”

In HP’s results statement, chief executive Enrique Lores added: “Our strong Q3 results and solid beat for the quarter, in the face of unprecedented uncertainty, reflects the agility of our teams and the strength of our portfolio.”

“We’re leveraging our leadership across consumer and commercial markets to capitalize on opportunities - from the essential role of the PC in an era of remote work and school to the rise of subscription-based business models to enable greater flexibility.”

In Friday’s premarket, Dell stock was up US$2.22 or 3.56% at US$62.43 and HP stock gained 58 cents or 3.1% to US$18.70.

Quick facts: HP Inc

Price: 27.795 USD

Market: NYSE
Market Cap: $34.61 billion

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