Dell Technologies' stock rallies after revenue rises more than expected

Shares of Dell Technologies Inc. DVMT, +5.19%rallied 2.9% in premarket trade Monday, after the technology services company reported fiscal first-quarter revenue that rose more than expected. The net loss for the quarter to May 4 narrowed to $636 million, or $1.95 a share, from $1.17 billion, or $2.29 a share, in the same period a year ago.

Earnings per share attributable for Class V shares rose to $2.33 from 59 cents. Total revenue increased 19% to $21.36 billion, while the FactSet average estimate of two analysts was for revenue of $19.37 billion. Client solutions revenue rose 14% to $10.3 billion, while commercial revenue increased 16% to $7.4 billion. PC shipments increased 6.4%, while VMware segment revenue rose 12% to $2.0 billion. The stock had rallied 4.4% year to date through Friday, while the S&P 500 SPX, +1.08%had gained 2.3%.