Dell profit and revenues shrink, and so does its outlook
Dell again posted disappointing earnings, and its shares declined 3.5 percent in after-hours trading.
The company's sales and net income both shrank in the May-July quarter compared to a year earlier. Revenue fell eight percent to $14.5 billion, while net income dropped 18 percent to $732 million. Dell blamed the decline on a contraction in desktop and mobility revenue.
The company's adjusted profit did exceed analyst expectations, though revenue fell short. Dell reported per-share earnings of 50 cents on the adjusted basis beloved by Wall Street. The consensus estimate compiled by First Call was for per-share … Read more