The key talking points from Dell and HP's quarterly results

Dell beats revenue estimates but HP falls short as both tackle supply issues

HP missed revenue estimates for its most recent quarter but rival Dell surpassed forecasts as both continue to work to meet the high demand for PCs.

Revenue at Dell shot up 15 per cent year-on-year to reach $26.1bn, surpassing expectations of $25.5bn, while its non-GAAP diluted earnings per share stood at $2.24, above the estimated $2.03.

But despite the above expected performance, its stock fell more than two per cent in after-hours trading on Thursday.

Dell's results, which also saw non-GAAP net income rise 18 per cent year-on-year to reach $1.91bn, were driven by continued demand for PCs with COO Jeff Clarke claiming the company had "shipped a record number of PCs and displays" in the quarter as Client Solutions Group revenue, which includes PCs, grew 27 per cent to a record $14.3 billion

But supply constraints continue to pose significant challenges for the business, with demand ahead of revenue growth which Clarke said should "not come as a surprise to anyone".

"We've made it through the first half of the year, and in this incredibly unpredictable environment, we delivered our best second quarter ever," Clarke said.

"We are utilising our industry-leading scale and differentiated supply chain to successfully navigate through the operational challenges caused by the unprecedented demand that is way ahead of supply right now."

HP, meanwhile, posted a seven per cent year-on-year revenue increase to $15.3bn, missing analyst expectations of $15.9bn, but non-GAAP diluted net EPS of $1.00 beat forecasts of $0.84.

But while non-GAAP net earnings stood at $1.2bn, a year-on-year increase of 71 per cent, HP was not able to tackle the supply challenges as well the competition, with net revenue for personal systems flat year-on-year at $10.4bn as shares fell more than two per cent after trading hours.

"We delivered another quarter of top and bottom-line growth with EPS growing substantially faster than revenue," CEO Enrique Lores said.

"The hybrid world is accelerating trends in our segments and our leadership across commercial and consumer categories as well, even as demand continues to outpace supply.

"We are managing through component shortages, COVID-related factory lockdowns in southeast Asia, and congested ports, and transportation disruptions. Even under these conditions, we delivered solid financial results."