“Dell Inc. forecast fiscal first-quarter revenue below Wall Street’s expectations, stoking fears the PC industry has not fully emerged from its downturn and sending the company’s shares more than 4 percent lower,” Poornima Gupta reports for Reuters.
“The world’s No. 3 personal computer maker projected sales would be down 7 percent this quarter from the previous quarter, when it posted revenue of $16 billion. That translates into about $14.9 billion, below the average forecast for roughly $15.2 billion,” Gupta reports. “Dell’s fiscal fourth quarter earnings also came in below Wall Street’s view as strength in its corporate business unit was offset by weakness in the division that caters to public businesses.”
Gupta reports, “PC makers have grappled with slackening demand as mobile devices such as Apple Inc’s iPad erode market share, while a shortage of hard drives after flooding in Thailand crimped supply.”
“Revenue in Dell’s fiscal fourth quarter was up 2 percent at $16 billion, in line with the average analyst estimate of $15.96 billion according to Thomson Reuters I/B/E/S,” Gupta reports. “The company posted a net income slide of 18 percent to $764 million, or 43 cents a share, for the period, down from $927 million, or 48 cents a share, a year earlier. Excluding one-time items, it earned 51 cents a share, a penny below the 52 cents expected.”
Read more in the full article here.
MacDailyNews Take: Just $764 million profit on $16 billion? That’s a heck of a lot of work for not very much. Woeful, in fact. Seriously, why bother – unless you goal is to doom as many people as possible to inferior personal computing? Bottom line: It looks like making it up in volume isn’t working out very well, huh, Mikey?
Did you know that with each earnings miss, Mikey’s eyes move a millimeter closer together? We predict he’ll go Cyclopsian by Q415.
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