However, shares of Dell fell 1%, while those of HP dropped
as much as 6%,
The falls came after both companies warned the ongoing
computer chip shortage could impact their ability to meet demand for laptops
this year.
"The component supply situation remains
constrained," Dell's chief financial officer Thomas Sweet said in post
earnings call.
He added that rising costs to procure these chips would hit
its operating income in the current quarter by the low to mid-single digits and
lead to slightly lower revenue on a sequential basis.
HP, which ranks second among global personal computer
vendors according to IDC data, said the shortages would limit its ability to
supply personal computing devices and printers at least until the end of the
year.
But the companies, which are leaders in the personal
computing industry, still said they were bullish on the overall market.
They said the market expects the surge in demand for laptops
needed by people working and going to school remotely to continue.
Global shipments of PCs, the industry's collective term for
laptops and desktops, grew 55.2% during the first quarter, according to
preliminary data from research firm IDC.
Dell said revenue from its client solutions group, which
includes desktops, notebooks and tablets, rose 20% to $13.31 billion in the
reported quarter.
HP's PC-related sales rose 27% in the quarter ended April
30, while notebook sales surged 47% from the same period a year earlier.
Dell's revenue rose 12% to $24.49 billion in the first
quarter, beating estimates of $23.40 billion, according to Refinitiv IBES data.
HP posted overall revenue of $15.9 billion above the $15
billion estimate.