(News Bulletin 247) – Dell Technologies opened Friday’s session on a hesitant note and on low spreads despite its good quarterly results published the night before.
The server and PC maker on Thursday night, after the close of Wall Street, unveiled fourth-quarter revenue of $25 billion, down 11% year-over-year.
Analysts were targeting just $21.6 billion in revenue for the quarter ending in early February.
Its branch called ‘Infrastructure Solutions Group’ – which includes its activities in servers and data storage – has yet signed sales up 7% to 9.9 billion dollars, aligning an eighth consecutive quarter of growth.
But the ‘Client Solutions Group’ division (computers and accessories) saw its turnover fall by 23% to 13.4 billion dollars.
Operating profit contracted by 26%, to $1.2 billion, over the past quarter, giving earnings per share (EPS) of $1.80, above the consensus of $1.25.
Note that Dell also announced last night the departure of its chief financial officer Tom Sweet, who will be replaced by its current director of management control, Yvonne McGill, starting in the fall.
Following all these announcements, Dell’s action nibbled 1.1% on Friday in early trading, after opening the session in the red.
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