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Dell Q1 Profit Down, Misses Street; But Revenue Tops View

Dell Inc. (DELL: Quote) Thursday reported first-quarter net income of $130 million or $0.07 per share, down from $635 million or $0.36 per share last year.

Adjusted net income for the quarter dropped to $372 million or $0.21 per share from $761 million or $0.43 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.35 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter dropped to $14.07 billion from $14.42 billion last year. Analysts estimated revenues of $13.52 billion for the quarter.

Dell did not issue an outlook for the second quarter in view of its announcement of going private.

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by RTT Staff Writer

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After initially showing a lack of direction, stocks have moved sharply lower over the course of the trading day on Thursday. The losses on the day are extending a recent downward trend by the markets, with the major averages falling to their lowest levels in over a month. After reporting a sharp jump in new orders for U.S. manufactured goods in the previous month, the Commerce Department released a report on Thursday showing that factory orders pulled back by a little more than expected in the month of August. First-time claims for U.S. unemployment benefits unexpectedly decreased in the week ended September 27th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims fell to 287,000, a decrease of 8,000 from the previous week's revised level of 295,000.
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