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Dell Technologies Delivers First Quarter Fiscal 2025 Financial Results
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11 months agoon
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News summary
First quarter revenue of $22.2 billion, up 6% year over yearInfrastructure Solutions Group (ISG) revenue of $9.2 billion, up 22% year over year, with record servers and networking revenue of $5.5 billion, up 42%Client Solutions Group (CSG) revenue of $12.0 billion, flat year over year, with commercial client revenue at $10.2 billion, up 3%Diluted earnings per share of $1.32, up 67% year over year, and non-GAAP diluted earnings per share of $1.27, down 3%
ROUND ROCK, Texas, May 30, 2024 /PRNewswire/ —
Full story
Dell Technologies (NYSE: DELL) announces financial results for its fiscal 2025 first quarter. Revenue was $22.2 billion, up 6% year over year. Operating income was $920 million and non-GAAP operating income was $1.5 billion, down 14% and 8% year over year, respectively. Cash flow from operations was $1.0 billion. Diluted earnings per share was $1.32, and non-GAAP diluted earnings per share was $1.27, up 67% and down 3% year over year, respectively.
Dell returned $1.1 billion to shareholders through share repurchases and dividends and ended the quarter with $7.3 billion in cash and investments.
“We again demonstrated our ability to execute and deliver strong cash flow, with AI continuing to drive new growth,” said Yvonne McGill, chief financial officer, Dell Technologies. “Revenue was up 6% at $22.2 billion, servers and networking revenue was up 42%, and we generated $7.9 billion of cash flow from operations over the last 12 months.”
First Quarter Fiscal 2025 Financial Results
Three Months Ended
May 3, 2024
May 5, 2023
Change
(in millions, except per share amounts
and percentages; unaudited)
Net revenue
$ 22,244
$ 20,922
6 %
Operating income
$ 920
$ 1,069
(14) %
Net income
$ 955
$ 578
65 %
Change in cash from operating activities
$ 1,043
$ 1,777
(41) %
Earnings per share – diluted
$ 1.32
$ 0.79
67 %
Non-GAAP operating income
$ 1,474
$ 1,598
(8) %
Non-GAAP net income
$ 923
$ 963
(4) %
Adjusted free cash flow
$ 623
$ 687
(9) %
Non-GAAP earnings per share – diluted
$ 1.27
$ 1.31
(3) %
Information about Dell Technologies’ use of non-GAAP financial information is provided under “Non-GAAP Financial Measures” below. All comparisons in this press release are year-over-year unless otherwise noted.
Infrastructure Solutions Group (ISG) delivered first quarter revenue of $9.2 billion, up 22% year over year. Servers and networking revenue was a record $5.5 billion, up 42%, with demand strength across AI and traditional servers. Storage revenue was flat at $3.8 billion. Operating income was $736 million.
Client Solutions Group (CSG) delivered first quarter revenue of $12.0 billion, flat year over year. Commercial client revenue was $10.2 billion, up 3% year over year, and Consumer revenue was $1.8 billion, down 15%. Operating income was $732 million.
“No company is better positioned than Dell to bring AI to the enterprise,” said Jeff Clarke, vice chairman and chief operating officer, Dell Technologies. “Servers and networking hit record revenue in Q1, with our AI-optimized server orders increasing sequentially to $2.6 billion, shipments up more than 100% to $1.7 billion, and backlog growing more than 30% to $3.8 billion.”
Dell Technologies World
On May 20, Dell expanded the industry’s broadest AI solutions portfolio from desktop to data center to cloud with innovations designed to accelerate AI adoption and innovation:
The Dell AI Factory combines Dell infrastructure, solutions and services optimized for AI workloads with an open ecosystem of partners including NVIDIA, Meta, Microsoft and Hugging Face.The Dell AI Factory with NVIDIA includes the new PowerEdge XE9680L server, which offers direct liquid cooling in a 4U form factor and can support 72 NVIDIA Blackwell GPUs in a single rack – 33% more GPU density per node compared to the XE9680.Dell PowerStore software updates give customers up to a 66% performance boost, native sync replication for file and block and improved multicloud data mobility capabilities.New AI PCs are Copilot+ and powered by Qualcomm Snapdragon® X Elite and Snapdragon® X Plus processors, delivering exceptional battery life and AI performance.
Operating Segments Results
Three Months Ended
May 3, 2024
May 5, 2023
Change
(in millions, except percentages;
unaudited)
Infrastructure Solutions Group (ISG):
Net revenue:
Servers and networking
$ 5,466
$ 3,837
42 %
Storage
3,761
3,756
— %
Total ISG net revenue
$ 9,227
$ 7,593
22 %
Operating Income:
ISG operating income
$ 736
$ 740
(1) %
% of ISG net revenue
8.0 %
9.7 %
% of total reportable segment operating income
50 %
45 %
Client Solutions Group (CSG):
Net revenue:
Commercial
$ 10,154
$ 9,862
3 %
Consumer
1,813
2,121
(15) %
Total CSG net revenue
$ 11,967
$ 11,983
— %
Operating Income:
CSG operating income
$ 732
$ 892
(18) %
% of CSG net revenue
6.1 %
7.4 %
% of total reportable segment operating income
50 %
55 %
Conference call information
As previously announced, the company will hold a conference call to discuss its performance and financial guidance on May 30 at 3:30 p.m. CDT. Prior to the start of the conference call, prepared remarks and a presentation containing additional financial and operating information prior to financial guidance may be downloaded from investors.delltechnologies.com. The conference call will be broadcast live over the internet and can be accessed at https://investors.delltechnologies.com/news-events/upcoming-events.
For those unable to listen to the live broadcast, the final remarks and presentation with financial guidance will be available following the broadcast, and an archived version will be available at the same location for one year.
About Dell Technologies
Dell Technologies (NYSE:DELL) helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry’s broadest and most innovative technology and services portfolio for the AI era.
Copyright © 2024 Dell Inc. or its subsidiaries. All Rights Reserved. Dell Technologies, Dell, EMC and Dell EMC are trademarks of Dell Inc. or its subsidiaries. Other trademarks may be trademarks of their respective owners.
Non-GAAP Financial Measures:
This press release presents information about non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP net income attributable to Dell Technologies Inc., non-GAAP earnings per share attributable to Dell Technologies Inc. – diluted, free cash flow, and adjusted free cash flow, all of which are non-GAAP financial measures provided as a supplement to the results provided in accordance with generally accepted accounting principles in the United States of America (“GAAP”). A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is provided in the attached tables for each of the fiscal periods indicated.
Special Note on Forward-Looking Statements:
Statements in this press release that relate to future results and events are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933 and are based on Dell Technologies’ current expectations. In some cases, you can identify these statements by such forward-looking words as “anticipate,” “believe,” “confidence,” “could,” “estimate,” “expect,” “guidance,” “intend,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should,” “will” and “would,” or similar words or expressions that refer to future events or outcomes.
Dell Technologies’ results or events in future periods could differ materially from those expressed or implied by these forward-looking statements because of risks, uncertainties, and other factors that include, but are not limited to, the following: adverse global economic conditions and instability in financial markets; competitive pressures; Dell Technologies’ reliance on third-party suppliers for products and components, including reliance on single-source or limited-source suppliers; Dell Technologies’ ability to achieve favorable pricing from its vendors; Dell Technologies’ execution of its strategy; social and ethical issues relating to the use of new and evolving technologies; Dell Technologies’ ability to manage solutions and products and services transitions in an effective manner; Dell Technologies’ ability to deliver high-quality products, software, and services; cyber attacks or other data security incidents; Dell Technologies’ ability to successfully execute on strategic initiatives including acquisitions, divestitures or cost savings measures; Dell Technologies’ foreign operations and ability to generate substantial non-U.S. net revenue; Dell Technologies’ product, services, customer, and geographic sales mix, and seasonal sales trends; the performance of Dell Technologies’ sales channel partners; access to the capital markets by Dell Technologies or its customers; material impairment of the value of goodwill or intangible assets; adverse economic conditions and the effect of additional regulation on Dell Technologies’ financial services activities; counterparty default risks; the loss by Dell Technologies of any contracts for ISG services and solutions and its ability to perform such contracts at their estimated costs; loss by Dell Technologies of government contracts; Dell Technologies’ ability to develop and protect its proprietary intellectual property or obtain licenses to intellectual property developed by others on commercially reasonable and competitive terms; disruptions in Dell Technologies’ infrastructure; Dell Technologies’ ability to hedge effectively its exposure to fluctuations in foreign currency exchange rates and interest rates; expiration of tax holidays or favorable tax rate structures, or unfavorable outcomes in tax audits and other tax compliance matters; impairment of portfolio investments; unfavorable results of legal proceedings; expectations relating to environmental, social and governance (ESG) considerations; compliance requirements of changing environmental and safety laws, human rights laws, or other laws; the effect of armed hostilities, terrorism, natural disasters, or public health issues; the effect of global climate change and legal, regulatory, or market measures to address climate change; Dell Technologies’ dependence on the services of Michael Dell and key employees; Dell Technologies’ level of indebtedness; and business and financial factors and legal restrictions affecting continuation of Dell Technologies’ quarterly cash dividend policy and dividend rate.
This list of risks, uncertainties, and other factors is not complete. Dell Technologies discusses some of these matters more fully, as well as certain risk factors that could affect Dell Technologies’ business, financial condition, results of operations, and prospects, in its reports filed with the SEC, including Dell Technologies’ annual report on Form 10-K for the fiscal year ended February 2, 2024, quarterly reports on Form 10-Q, and current reports on Form 8-K. These filings are available for review through the SEC’s website at www.sec.gov. Any or all forward-looking statements Dell Technologies makes may turn out to be wrong and can be affected by inaccurate assumptions Dell Technologies might make or by known or unknown risks, uncertainties, and other factors, including those identified in this press release. Accordingly, you should not place undue reliance on the forward-looking statements made in this press release, which speak only as of its date. Dell Technologies does not undertake to update, and expressly disclaims any duty to update, its forward-looking statements, whether as a result of circumstances or events that arise after the date they are made, new information, or otherwise.
DELL TECHNOLOGIES INC.
Condensed Consolidated Statements of Income and Related Financial Highlights
(in millions, except percentages; unaudited)
Three Months Ended
May 3, 2024
May 5, 2023
Change
Net revenue:
Products
$ 16,127
$ 15,036
7 %
Services
6,117
5,886
4 %
Total net revenue
22,244
20,922
6 %
Cost of net revenue:
Products
13,766
12,375
11 %
Services
3,672
3,529
4 %
Total cost of net revenue
17,438
15,904
10 %
Gross margin
4,806
5,018
(4) %
Operating expenses:
Selling, general, and administrative
3,123
3,261
(4) %
Research and development
763
688
11 %
Total operating expenses
3,886
3,949
(2) %
Operating income
920
1,069
(14) %
Interest and other, net
(373)
(364)
(2) %
Income before income taxes
547
705
(22) %
Income tax expense (benefit)
(408)
127
(421) %
Net income
955
578
65 %
Net income attributable to Dell Technologies Inc.
$ 960
$ 583
65 %
Percentage of Total Net Revenue:
Gross margin
21.6 %
24.0 %
Selling, general, and administrative
14.1 %
15.6 %
Research and development
3.4 %
3.3 %
Operating expenses
17.5 %
18.9 %
Operating income
4.1 %
5.1 %
Income before income taxes
2.5 %
3.4 %
Net income
4.3 %
2.8 %
Income tax rate
(74.6) %
18.0 %
Amounts are based on underlying data and may not visually foot due to rounding.
DELL TECHNOLOGIES INC.
Condensed Consolidated Statements of Financial Position
(in millions; unaudited)
May 3, 2024
February 2, 2024
ASSETS
Current assets:
Cash and cash equivalents
$ 5,830
$ 7,366
Accounts receivable, net of allowance of $66 and $71
8,563
9,343
Short-term financing receivables, net of allowance of $86 and $79
4,660
4,643
Inventories
4,782
3,622
Other current assets
10,792
10,973
Total current assets
34,627
35,947
Property, plant, and equipment, net
6,237
6,432
Long-term investments
1,293
1,316
Long-term financing receivables, net of allowance of $109 and $91
5,941
5,877
Goodwill
19,640
19,700
Intangible assets, net
5,538
5,701
Other non-current assets
6,914
7,116
Total assets
$ 80,190
$ 82,089
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Short-term debt
$ 6,098
$ 6,982
Accounts payable
20,586
19,389
Accrued and other
6,016
6,805
Short-term deferred revenue
15,034
15,318
Total current liabilities
47,734
48,494
Long-term debt
19,382
19,012
Long-term deferred revenue
13,116
13,827
Other non-current liabilities
2,681
3,065
Total liabilities
82,913
84,398
Stockholders’ equity (deficit):
Total Dell Technologies Inc. stockholders’ equity (deficit)
(2,822)
(2,404)
Non-controlling interests
99
95
Total stockholders’ equity (deficit)
(2,723)
(2,309)
Total liabilities and stockholders’ equity
$ 80,190
$ 82,089
DELL TECHNOLOGIES INC.
Condensed Consolidated Statements of Cash Flows
(in millions; unaudited)
Three Months Ended
May 3, 2024
May 5, 2023
Cash flows from operating activities:
Net income
$ 955
$ 578
Adjustments to reconcile net income to net cash provided by operating activities:
88
1,199
Change in cash from operating activities
1,043
1,777
Cash flows from investing activities:
Purchases of investments
(39)
(15)
Maturities and sales of investments
119
19
Capital expenditures and capitalized software development costs
(596)
(701)
Other
60
13
Change in cash from investing activities
(456)
(684)
Cash flows from financing activities:
Proceeds from the issuance of common stock
—
2
Repurchases of common stock
(700)
(240)
Repurchases of common stock for employee tax withholdings
(521)
(306)
Payments of dividends and dividend equivalents
(336)
(276)
Proceeds from debt
2,992
2,521
Repayments of debt
(3,477)
(3,698)
Debt-related costs and other, net
(35)
(5)
Change in cash from financing activities
(2,077)
(2,002)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash
(55)
(58)
Change in cash, cash equivalents, and restricted cash
(1,545)
(967)
Cash, cash equivalents, and restricted cash at beginning of the period
7,507
8,894
Cash, cash equivalents, and restricted cash at end of the period
$ 5,962
$ 7,927
DELL TECHNOLOGIES INC.
Segment Information
(in millions, except percentages; unaudited; continued on next page)
Three Months Ended
May 3, 2024
May 5, 2023
Change
Infrastructure Solutions Group (ISG):
Net revenue:
Servers and networking
$ 5,466
$ 3,837
42 %
Storage
3,761
3,756
— %
Total ISG net revenue
$ 9,227
$ 7,593
22 %
Operating Income:
ISG operating income
$ 736
$ 740
(1) %
% of ISG net revenue
8.0 %
9.7 %
% of total reportable segment operating income
50 %
45 %
Client Solutions Group (CSG):
Net revenue:
Commercial
$ 10,154
$ 9,862
3 %
Consumer
1,813
2,121
(15) %
Total CSG net revenue
$ 11,967
$ 11,983
— %
Operating Income:
CSG operating income
$ 732
$ 892
(18) %
% of CSG net revenue
6.1 %
7.4 %
% of total reportable segment operating income
50 %
55 %
Amounts are based on underlying data and may not visually foot due to rounding.
DELL TECHNOLOGIES INC.
Segment Information
(in millions, except percentages; unaudited; continued)
Three Months Ended
May 3, 2024
May 5, 2023
Reconciliation to consolidated net revenue:
Reportable segment net revenue
$ 21,194
$ 19,576
Other businesses (a)
1,049
1,343
Unallocated transactions (b)
1
3
Total consolidated net revenue
$ 22,244
$ 20,922
Reconciliation to consolidated operating income:
Reportable segment operating income
$ 1,468
$ 1,632
Other businesses (a)
6
(36)
Unallocated transactions (b)
—
2
Amortization of intangibles (c)
(168)
(203)
Stock-based compensation expense (d)
(210)
(225)
Other corporate expenses (e)
(176)
(101)
Total consolidated operating income
$ 920
$ 1,069
_________________
(a)
Other businesses consists of: 1) Dell’s resale of standalone VMware, Inc. products and services, “VMware Resale,” 2) Secureworks, and 3) Virtustream, and do not meet the requirements for a reportable segment, either individually or collectively.
(b)
Unallocated transactions includes other corporate items that are not allocated to Dell Technologies’ reportable segments.
(c)
Amortization of intangibles includes non-cash purchase accounting adjustments that are primarily related to the EMC merger transaction.
(d)
Stock-based compensation expense consists of equity awards granted based on the estimated fair value of those awards at grant date.
(e)
Other corporate expenses consist primarily of severance expenses, payroll taxes associated with stock-based compensation, facility action costs, transaction-related expenses, impairment charges, and incentive charges related to equity investments.
SUPPLEMENTAL SELECTED NON-GAAP FINANCIAL MEASURES
These tables present information about the Company’s non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP net income attributable to Dell Technologies Inc., non-GAAP earnings per share attributable to Dell Technologies Inc. – diluted, free cash flow and adjusted free cash flow, all of which are non-GAAP financial measures provided as a supplement to the results provided in accordance with generally accepted accounting principles in the United States of America (“GAAP”). A detailed discussion of Dell Technologies’ reasons for including these non-GAAP financial measures, the limitations associated with these measures, the items excluded from these measures, and our reason for excluding those items are presented in “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Non-GAAP Financial Measures” in our periodic reports filed with the SEC. Dell Technologies encourages investors to review the non-GAAP discussion in these reports in conjunction with the presentation of non-GAAP financial measures.
DELL TECHNOLOGIES INC.
Selected Financial Measures
(in millions, except per share amounts and percentages; unaudited)
Three Months Ended
May 3, 2024
May 5, 2023
% Change
Net revenue
$ 22,244
$ 20,922
6 %
Non-GAAP gross margin
$ 4,947
$ 5,164
(4) %
% of net revenue
22.2 %
24.7 %
Non-GAAP operating expenses
$ 3,473
$ 3,566
(3) %
% of net revenue
15.6 %
17.1 %
Non-GAAP operating income
$ 1,474
$ 1,598
(8) %
% of net revenue
6.6 %
7.6 %
Non-GAAP net income
$ 923
$ 963
(4) %
% of net revenue
4.1 %
4.6 %
Non-GAAP earnings per share – diluted
$ 1.27
$ 1.31
(3) %
Amounts are based on underlying data and may not visually foot due to rounding.
DELL TECHNOLOGIES INC.
Reconciliation of Selected Non-GAAP Financial Measures
(in millions, except percentages; unaudited; continued on next page)
Three Months Ended
May 3, 2024
May 5, 2023
% Change
Gross margin
$ 4,806
$ 5,018
(4) %
Non-GAAP adjustments:
Amortization of intangibles
60
79
Stock-based compensation expense
38
38
Other corporate expenses
43
29
Non-GAAP gross margin
$ 4,947
$ 5,164
(4) %
Operating expenses
$ 3,886
$ 3,949
(2) %
Non-GAAP adjustments:
Amortization of intangibles
(108)
(124)
Stock-based compensation expense
(172)
(187)
Other corporate expenses
(133)
(72)
Non-GAAP operating expenses
$ 3,473
$ 3,566
(3) %
Operating income
$ 920
$ 1,069
(14) %
Non-GAAP adjustments:
Amortization of intangibles
168
203
Stock-based compensation expense
210
225
Other corporate expenses
176
101
Non-GAAP operating income
$ 1,474
$ 1,598
(8) %
Net income
$ 955
$ 578
65 %
Non-GAAP adjustments:
Amortization of intangibles
168
203
Stock-based compensation expense
210
225
Other corporate expenses
170
98
Fair value adjustments on equity investments
30
15
Aggregate adjustment for income taxes (a)
(610)
(156)
Non-GAAP net income
$ 923
$ 963
(4) %
____________________
(a)
Beginning in Fiscal 2025, our non-GAAP income tax is calculated using a fixed estimated annual tax rate.
DELL TECHNOLOGIES INC.
Reconciliation of Selected Non-GAAP Financial Measures
(unaudited; continued)
Three Months Ended
May 3, 2024
May 5, 2023
% Change
Earnings per share attributable to Dell Technologies, Inc. — diluted
$ 1.32
$ 0.79
67 %
Non-GAAP adjustments:
Amortization of intangibles
0.23
0.28
Stock-based compensation expense
0.29
0.30
Other corporate expenses
0.24
0.13
Fair value adjustments on equity investments
0.04
0.02
Aggregate adjustment for income taxes (a)
(0.84)
(0.21)
Total non-GAAP adjustments attributable to non-controlling interests
(0.01)
—
Non-GAAP earnings per share attributable to Dell Technologies, Inc. — diluted
$ 1.27
$ 1.31
(3) %
____________________
(a)
Beginning in Fiscal 2025, our non-GAAP income tax is calculated using a fixed estimated annual tax rate.
DELL TECHNOLOGIES INC.
Reconciliation of Selected Non-GAAP Financial Measures
(in millions, except percentages; unaudited; continued)
Three Months Ended
May 3, 2024
May 5, 2023
% Change
Cash flow from operations
$ 1,043
$ 1,777
(41) %
Non-GAAP adjustments:
Capital expenditures and capitalized software development costs, net (a)
(586)
(698)
Free cash flow
$ 457
$ 1,079
(58) %
Free cash flow
$ 457
$ 1,079
(58) %
Non-GAAP adjustments:
Financing receivables (b)
165
(367)
Equipment under operating leases (c)
1
(25)
Adjusted free cash flow
$ 623
$ 687
(9) %
____________________
(a)
Capital expenditures and capitalized software development costs is net of proceeds from sales of facilities, land, and other assets.
(b)
Financing receivables represent the operating cash flow impact from the change in DFS financing receivables.
(c)
Equipment under operating leases represents the net change of capital expenditures and depreciation expense for DFS leases and contractually embedded leases identified within flexible consumption arrangements.
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Online Gambling Market to Hit $153.57 Billion by 2030 at CAGR 11.9% – Grand View Research, Inc.
Published
22 minutes agoon
May 8, 2025By
SAN FRANCISCO, May 8, 2025 /PRNewswire/ — The global online gambling market size is estimated to reach USD 153.57 billion by 2030, registering a CAGR of 11.9% from 2025 to 2030, according to a new report by Grand View Research, Inc. The emergence of freemium modes of online gaming following the trend of betting applications and websites is expected to drive market growth. The freemium model generates revenue via users and integrated advertisements.
Increased smartphone and internet penetration and easy access to casino gaming platforms positively influence the market. For instance, according to GSMA, the Asia Pacific region will witness 333 million new mobile internet subscribers by 2025. Moreover, the availability of cost-effective betting applications is expected to favor market growth over the forecast period. According to the data published by the New York state government, over 650,000 unique accounts were created on mobile betting apps in 2021.
Request a free sample copy or view report summary: Online Gambling Market
Online gambling developers have partnered with online casino software suppliers to cater to the demand for immersive casino games. For instance, in February 2023, the Sisal subsidiary of Flutter Entertainment Plc. got its license for online gambling in Morocco from La Marocaine des Jeux et des Sports (MDJS). For instance, in January 2023, FanDuel subsidiary of Flutter Entertainment Plc. launched a mobile sports betting platform in Ohio and announced its Sportsbook launch at Belterra Park Cincinnati.
The outbreak of COVID-19 played a crucial role in expediting the online gambling demand as people spent most of their time indoors and opted for online games for leisure. For instance, in May 2021, a study by the University of Bristol showed regular online gamblers were more than six times more likely to gamble online than pre-pandemic. Besides, adopting various options for digital payments with safe payment gateways is also stimulating the adoption of online gambling applications. The increased adoption of digital currency and websites provided by betting and gambling companies will further accelerate market growth.
Online Gambling Market Report Highlights:
The sports betting type segment dominated the market with a revenue share of over 50% in 2024, attributed to the expanding legalization of internet sports wagering and in-game betting popularity.The mobile device segment is expected to record the significant CAGR over the forecast period, due to the emergence of betting immersive applications and the convenience of gambling via mobile devices.The increased advertisement of online gambling websites through online agencies, third-party ad servers, and networks and exchanges is expected to drive market expansion over the subsequent years.Europe dominated the online gambling market in 2024 by accounting for a revenue share of around 41.0%, owing to the legalization of online gambling due to stringent regulations and safe practices in the region.Asia Pacific is anticipated to register a significant CAGR over the forecast period, with the increased smartphone usage, a larger population of youngsters, and the legalization of online gambling in the region.
Read full market research report on Online Gambling Market with TOC – Online Gambling Market Size, Share & Trends Analysis Report By Type (Sports Betting, Casinos, Poker, Bingo), By Device (Desktop, Mobile), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), And Segment Forecasts, 2025 – 2030
Online Gambling Market Segmentation
Grand View Research has segmented the global online gambling market based on type, device, and region:
Online Gambling Market – Type Outlook (Revenue, USD Million, 2018 – 2030)
Sports BettingCasinosiSlotsiTableiDealerOther iCasino GamesPokerBingoOthers
Online Gambling Market – Device Outlook (Revenue, USD Million, 2018 – 2030)
DesktopMobileOthers
Online Gambling Market – Regional Outlook (Revenue, USD Million, 2018 – 2030)
North AmericaU.S.CanadaMexicoEuropeGermanyU.K.FranceAsia PacificChinaIndiaJapanAustraliaLatin AmericaBrazilMiddle East & AfricaTurkeySouth Africa
List of Key Players in the Online Gambling Market
888 Holdings Plc.Bally’s CorporationBet 365 Group Ltd.Betsson ABEntain Plc.FireKeepersFlutter Entertainment Plc.Churchill Downs Inc.Kindred GroupLadbrokes Coral Group PlcSky Betting & GamblingSportech PlcThe Stars Group Plc.
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Sports Betting Market – The global sports betting market size is estimated to reach USD 187.39 billion by 2030, registering a CAGR of 11% from 2025 to 2030, according to a new report by Grand View Research, Inc. This growth of the market is driven by the proliferation of internet infrastructure and evolving regulatory landscape of the entire gambling industry across the world.North America Online Gambling Market – The North America online gambling market size is anticipated to reach USD 32.95 billion in 2030 and is expected to grow at a CAGR of 12.2% from 2025 to 2030, according to a new report by Grand View Research, Inc. Shifting consumer preferences towards online and digital experiences have played a crucial role in driving the market growth.Online Casino Market – The global online casino market size is anticipated to reach USD 38.00 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 12.2% from 2025 to 2030. The market growth is primarily driven by the increasing penetration of smartphones and high-speed internet, which has expanded access to digital gambling platforms.Online Lottery Market – The global online lottery market size is estimated to reach USD 167.8 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 5.7% from 2025 to 2030. The proliferation of smartphones and improved internet connectivity has made it easier for consumers to access lottery games online, allowing participation from virtually anywhere at any time.
Browse Horizon Databook on Online Gambling Market – Global Online Gambling Market Size & Outlook
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Explore Horizon Databook – The world’s most expansive market intelligence platform developed by Grand View Research. Gain insights from 30K+ Global & Regional Reports, 120K+ Country Reports, 1.2M+ Market Statistics, 200K+ Company Profiles, and 5 business solutions encompassing ESG and Sustainability Consulting, Procurement Intelligence, Pricing Index and Analysis, and Consumer Analytics.
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View original content:https://www.prnewswire.co.uk/news-releases/online-gambling-market-to-hit-153-57-billion-by-2030-at-cagr-11-9—grand-view-research-inc-302450177.html
Technology
EZCast Debuts Next-Generation Wireless Display for Broader Applications at Computex 2025
Published
22 minutes agoon
May 8, 2025By
TAIPEI, May 8, 2025 /PRNewswire/ — EZCast, the world-leading innovator and manufacturer of wireless display technologies, returns to COMPUTEX 2025 with its newest lineup of products, showcasing advancements that set new standards for wireless connectivity, collaboration, and content creation.
Date: May 20th to 23th, 2025Location: Taipei Nangang Exhibition Center, Hall 2, 1st floorBooth: Q1323Register a visit: https://www.ezcast.com/exhibition
Break Barriers with the New 1 to 4 Display Solution
The new EZCast Omni Tetra is designed for high-performance wireless display across up to four screens, supporting an extended transmission range of up to 300 meters. It features a dual-antenna 2T2R configuration, allowing the transmitter to deliver optimized signals to dedicated 2T2R-equipped receivers through two independent channels. This setup ensures stable and smooth transmission, even through physical barriers. Powered by EZCast’s exclusive smart channel hopping technology, it dynamically avoids interference to maintain reliable connectivity, making it an ideal solution for multi-display environments, live demonstrations, and professional presentations where stability is essential.
Wireless Camera Monitoring for Creative Production
EZCast CamCast is designed to expand the wireless display capabilities of cameras, offering a flexible solution for content creators and small production teams. It supports real-time monitoring on up to four screens simultaneously, allowing users to view footage remotely without the constraints of cables. This wireless freedom makes on-set collaboration more efficient and mobile, streamlining workflows for video shoots as well as self-media content monitoring.
Work Smarter with Real-Time Wireless Touch-back Control
In response to the growing needs of digital collaboration, the new Office Link is designed to make co-working smarter and more efficient. In addition to wireless screen sharing, Office Link now supports touch-back control functionality, allowing users to interact with the source device directly from the receiving screen using a touchscreen, keyboard, or mouse. This feature enables users to control and operate the presenter’s device remotely, making meetings more interactive and seamless, while eliminating the need to walk back and forth during discussions or presentations.
Visit EZCast at COMPUTEX 2025
See the future of wireless display in action at Booth Q1323, COMPUTEX 2025. Join us for live demos and claim your exclusive free sample — available in limited quantity, only during the show.
To book a visit with EZCast at Computex 2025, please register at: https://www.ezcast.com/exhibition
About EZCast
EZCast is a global innovator in wireless display technology, offering a wide range of display accessories, Wi-Fi dongles, and presentation systems. All products are quality-tested for reliable performance and user convenience. EZCast also provides OEM and ODM services for tailored business solutions,helping partners bring custom wireless display products to market efficiently and with high quality.
For more information, please visit: https://www.ezcast.com/
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SOURCE EZCast
Technology
HOME EQUITY DIPS SLIGHTLY DURING FIRST QUARTER BUT REMAINS NEAR HISTORIC HIGHS
Published
22 minutes agoon
May 8, 2025By
Proportion of homes considered equity-rich drops to 46.2 percent quarter-over-quarter; Rate of seriously underwater homes ticks up slightly
IRVINE, Calif., May 8, 2025 /PRNewswire/ — ATTOM, a leading curator of land, property data, and real estate analytics, today released its first quarter 2025 U.S. Home Equity & Underwater Report, which shows that 46.2 percent of mortgaged residential properties in the country were considered equity-rich in the first quarter, meaning the combined estimated amount of loan balances secured by those properties was no more than half of their estimated market value.
The proportion of equity rich homes was down from 47.7 percent in the fourth quarter of 2024 and has dropped each quarter since a peak of 49.2 percent in the second quarter of last year. The rate is still historically high, however, and nearly double what it was in the first quarter of 2020.
The percent of seriously underwater homes nationwide—those where the combined estimated balance of loans secured by the property is at least 25 percent more than the property’s estimated market value—ticked up from 2.5 percent in the fourth quarter of 2024 to 2.8 percent in the first quarter of 2025.
“Home equity rates are near their highest points in recent years and the dip we’ve seen early this year in the proportion of equity-rich homes shouldn’t cause too much concern,” said Rob Barber, CEO for ATTOM. “In each of the two previous years, the first quarter marked the lowest point of the year before the proportion of equity-rich homes shot back up in the second quarter.”
Equity-rich rates fell in 47 states quarterly but majority of states still up annually
The drop in the proportion of equity-rich homes was spread across most of the country. The rate fell in 47 states and the District of Columbia between the fourth quarter of 2024 and the first quarter of 2025. However, It was still up in 33 states and D.C. compared to the same time last year, a reminder that this dip comes amid a historically strong housing market.
The states with the largest annual increase in the proportion of equity rich homes were Connecticut (up from 42.2 percent in the first quarter of 2024 to 48 percent in the first quarter of 2025), New York (up from 49.1 to 54.1 percent). New Jersey (up from 47.1 to 52.1 percent), Rhode Island (up from 55 percent to 59.8 percent), and Kentucky (up from 28.7 percent to 33.3 percent).
The biggest annual decreases in equity-rich homes were in Florida (down from 54.4 percent in the first quarter of 2024 to 49.3 percent in the first quarter of 2025), Utah (down from 54 percent to 50.7), Arizona (down from 52.9 percent to 49.8 percent), Washington (down from 54.2 to 51.3 percent), and Colorado (down from 48.4 to 45.8 percent).
Proportion of seriously underwater homes remains steady and low
The nationwide proportion of mortgaged homes considered seriously underwater has remained steady between 2 and 3 percent since early 2023. At 2.8 percent of homes in the first quarter of 2025, the rate is less than half of what it was during the first quarter of 2020 (6.6 percent).
The proportion of seriously underwater homes increased quarterly in 48 states and D.C but only 25 states and D.C. saw their underwater rates go up compared to the same time last year.
The biggest year-over-year increases in seriously underwater rates were in Kansas (up from 2.9 percent in the first quarter of 2024 to 4.7 percent in the first quarter of 2025), Utah (up from 2.1 percent to 2.6 percent), South Carolina (up from 3.3 percent to 3.8 percent), Nebraska (up from 3.7 percent to 4.1 percent), and South Dakota (up from 3 percent to 3.4 percent).
The states with the largest year-over-year drops in seriously underwater rates were Wyoming (down from 8.8 percent in the first quarter of 2024 to 2.5 percent in the first quarter of 2025), West Virginia (down from 5.4 percent to 4.2 percent), Kentucky (down from 8.3 percent to 7.3 percent), Louisiana (down from 11.3 percent to 10.5 percent), and Oklahoma (down from 6.1 percent to 5.5 percent).
Northeast and West have highest equity-rich rates
Six of the 10 states with the highest proportion of mortgaged homes considered equity-rich in the first quarter of 2025 were in the Northeast while the remaining four were in the West.
The states with the highest equity-rich rates were Vermont (85.8 percent), New Hampshire (60.5 percent), Rhode Island (59.8 percent), Montana (59.4 percent), and Maine (58.9 percent).
The states with the lowest equity-rich rates were Louisiana (20.3 percent), Maryland (31.4 percent), Illinois (31.5 percent), Alaska (31.7 percent), and North Dakota (31.9 percent).
Among the 110 metropolitan statistical areas with populations over 500,000 in our analysis, the markets with the highest equity-rich rates were San Jose, CA (68.2 percent); Los Angeles, CA (64 percent); San Diego, CA (63 percent); Portland, ME (61.5 percent); and Miami, FL (59.5 percent).
Quarter-over-quarter, the proportion of equity-rich homes decreased in 99 out of the 110 large markets (90 percent). Compared to the same time last year, it fell in 56 of those 110 markets (51 percent).
Midwest counties lead the way in share of equity-rich homes
Among the 1,751 counties with at least 2,500 homes with a mortgage in the first quarter of 2025, 13 of the 15 counties with the highest equity-rich rates were in Michigan, Wisconsin, or Vermont.
The counties with the highest equity rich rates were Chittenden County, VT (91.3 percent); Marquette County, MI (89.8 percent); Benzie County, MI (88.7 percent); Portage County, WI (88.6 percent); and Manistee County, MI (88 percent).
The lowest equity-rich rates were concentrated in the South, with nine of the 15 counties with the smallest proportion of equity-rich homes falling in Louisiana. The counties with the lowest rates were Vernon, LA (6.3 percent); Iberville County, LA (8.3 percent); Long County, GA (9.8 percent); Ascension County, LA (9.9 percent); and Acadia County, LA (10.9 percent)
In 37 percent of zip codes the majority of homes were equity-rich
More than half of all mortgaged homes were considered equity rich in 3,418 (37 percent) of the 9,144 zip codes that had at least 2,000 homes with mortgages in the first quarter of 2025.
Nearly half of the 50 zip codes with the highest proportions of equity rich homes were in California. The zip codes with the highest equity-rich rates were 49855 in Marquette, MI (91.66 percent); 92657 in Newport Coast, CA (85.75 percent); 57702 in Rapid City, SD (85.64 percent); 94024 in Los Altos, CA (84.80 percent); and 92620 in Irvine, CA (84.51 percent)
South and Midwest have highest proportion of seriously underwater homes
Eighteen of the 20 states with the highest percentage of seriously underwater homes were in the South and Midwest. The states with the highest rates of seriously underwater homes were Louisiana (10.5 percent), Kentucky (7.3 percent), Mississippi (6.6 percent), Arkansas (5.8 percent), and Iowa (5.7 percent).
The states with the smallest proportion of seriously underwater homes were Vermont (0.7 percent), Rhode Island (1 percent), New Hampshire (1.1 percent), Massachusetts (1.2 percent), and Hawaii (1.3 percent).
Among the 110 large metro areas with populations over 500,000 in our analysis, those with the largest shares of seriously underwater homes were Baton Rouge, LA (11.9 percent); New Orleans, LA (7.3 percent); Toledo, OH (7 percent); Jackson, MS (6.3 percent); and Memphis, TN (6.2 percent).
More than 10 percent of residential mortgages seriously underwater in just a small percentage of zip codes
More than a tenth of homes were seriously underwater in 218 (2.4 percent) of the 9,144 zip codes with at least 2,000 homes under mortgage in the first quarter of 2025.
The zip codes with the largest shares of seriously underwater homes were 41501 in Pikeville, KY (31.1 percent); 70805 in Baton Rouge, LA (31 percent); 19132 in Philadelphia, PA (30 percent); 71446 in Leesville, LA (27.64 percent); and 60649 in Chicago, IL (26.24 percent).
Report methodology
The ATTOM U.S. Home Equity & Underwater report provides counts of properties based on several categories of equity — or loan to value (LTV) — at the state, metro, county and zip code level, along with the percentage of total properties with a mortgage that each equity category represents. The equity/LTV is calculated based on record-level loan model estimating position and amount of loans secured by a property and a record-level automated valuation model (AVM) derived from publicly recorded mortgage and deed of trust data collected and licensed by ATTOM nationwide for more than 155 million U.S. properties. The ATTOM Home Equity and Underwater report has been updated and modified to better reflect a housing market focused on the traditional home buying process. ATTOM found that markets where investors were more prominent, they would offset the loan to value ratio due to sales involving multiple properties with a single jumbo loan encompassing all of the properties. Therefore, going forward such activity is now excluded from the reports in order to provide traditional consumer home purchase and loan activity.
Definitions
Seriously underwater: Loan to value ratio of 125 percent or above, meaning the property owner owed at least 25 percent more than the estimated market value of the property.
Equity-rich: Loan to value ratio of 50 percent or lower, meaning the property owner had at least 50 percent equity.
About ATTOM
ATTOM powers innovation across industries with premium property data and analytics covering 155 million U.S. properties—99% of the population. Our multi-sourced real estate data includes property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, neighborhood and geospatial boundary information, all validated through a rigorous 20-step process and linked by a unique ATTOM ID.
From flexible delivery solutions—such as Property Data APIs, Bulk File Licenses, ATTOM Cloud, Real Estate Market Trends—to AI-Ready datasets, ATTOM fuels smarter decision-making across industries including real estate, mortgage, insurance, government, and more.
Media Contact:
Megan Hunt
Megan.hunt@attomdata.com
Data and Report Licensing:
949.502.8313
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SOURCE ATTOM
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