“Shares of Dell (DELL) are down [1.48, or 9.81%, at $13.60], after the company this afternoon reported fiscal Q1 revenue and earnings per share below analysts’ estimates, and forecast a Q2 revenue rise less than expected,” Tiernan Ray reports for Barron’s.
“Revenue in the three months ended May 4th fell 10%, quarter over quarter, and 4%, year over year, to $14.4 billion, yielding EPS of 43 cents, excluding some costs,” Ray reports. “Analysts had been modeling $14.91 billion and 46 cents EPS… The biggest decline was from consumers, where revenue was down 12%.”
Ray reports, “For the current quarter, the company projects a 2% to 4% rise in revenue, which would be $14.7 billion to $14.98 billion, below the average $15.44 billion estimate on the Street.”
Read more in the full article here.
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