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Dell Inc. (DELL) Dropped To A New Low After Disappointing Q3 Report

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11/16/2012 4:44 PM ET

Dell Inc. (DELL: Quote) reported third quarter adjusted net income of $0.39 per share after the bell Thursday, down from $0.54 per share a year ago. The consensus estimate was for EPS of $0.40. Revenues dropped 11 percent to $13.72 billion from $15.37 billion last year. The consensus estimate was for revenues of $13.90 billion. The company backed its full-year adjusted earnings outlook of at least $1.70 per share.

Dell gapped open lower Friday and pulled back in early trade, before settling into a range. The stock closed down by 0.70 at $8.86 on the highest volume in nearly 6 months. Dell dropped below a month and a half long range and set a new low for the year.

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by RTT Staff Writer

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