Dell posts 47% Decline in 3Q Profits – Weak PC Demand

Dell announced fiscal 2013 third-quarter results today with revenue of $13.7 billion, GAAP operating income of $589 million, and GAAP earnings of $0.27 per share. This is a 47 percent decline in third-quarter profit and an 11 percent decline in revenue compared with the same quarter last year. Dell’s enterprise solution strategy continued to show positive results with server and networking revenue increasing 11 percent year over year.

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“In a difficult global IT spending environment we saw solid proof points that demonstrate progress in our strategy,” said Brian Gladden, Dell CFO. “A highlight has been the strong progress of our newly introduced servers, with our server and networking business up 11 percent. We’re also encouraged by early interest in our new Windows 8 touch portfolio and the opportunities it creates for our commercial and consumer businesses. ”

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