The three main indexes on Wall Street also fell on reports that Biden planned to raise income taxes on the wealthy, a proposal some said would be hard to pass in Congress.
The company's net income rose to $153.4 million, or $1.68 per share, in the first quarter ended March 31, from $152.3 million, or $1.58 per share, a year earlier.
Operating ratio, a key metric for Wall Street, rose to 64.2% from 60.5% a year earlier. A lower operating ratio signals improved profitability.
The spinoff of its 81% stake in VMware, first proposed in a filing last July, would also help Dell lower its long-term debt of $41.62 billion, much of which was taken on during its 2016 acquisition of data management firm EMC.
Wall street analysts saw benefits in the spinoff, but some also raised long-term concerns about company's core business.
Optimism nevertheless appeared intact among traders as bitcoin zoomed to a record high above $63,000 ahead of Wednesday's trading launch of the Coinbase cryptocurrency exchange.
The consumer price index jumped 0.6pc, the largest gain since August 2012, as increased vaccinations and massive fiscal stimulus unleashed pent-up demand.