Dell earnings beat Wall Street estimates
Dell Inc. the world’s second-largest personal computer maker, reported on Tuesday quarterly earnings per share that topped Wall Street’s average estimate, sending its stock up nearly 10 percent. Net income for the third quarter ended November 3 was $677 million, or 30 cents per share, but Dell provided no comparison with the year-ago period. Revenue was $14.38 billion.
Shares of Dell gained 9.5 percent, or $2.35, to $27.17 in extended-hours trade following the report, adding to a 17-cent gain in regular trading on Nasdaq to close at $24.82. Dell’s third-quarter revenue growth, compared with reported revenue of $13.9 billion a year earlier, was the slowest in more than four years as it faced tough competition from Hewlett-Packard Co., which last week reported a quadrupling of quarterly profit as sales and profit margins improved across its key divisions.
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