Reuters: Global Markets: Dell results disappoint Street, shares dive

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Dell results disappoint Street, shares dive May 22nd 2012, 20:31 Tweet Share this Email Print Related News UPDATE 4-Retailer Express plunges as sales gaffe hurts results 3:58pm EDT UPDATE 3-Ralph Lauren sees Europe problems hitting sales 2:48pm EDT UPDATE 3-Medtronic net up, but weak spine-product sales weigh 2:43pm EDT Flurry of arguments starts Gupta insider-trading trial Mon, May 21 2012 Historic Facebook debut falls flat Fri, May 18 2012 Analysis & Opinion The Facebook earnings-forecast scandal China diversified dot-coms avoid Facebook pitfalls Related Topics Tech » Hot Stocks » Asian Markets » A man wipes the logo of the Dell IT firm at the CeBIT exhibition centre in Hannover February 28, 2010. Credit: Reuters/Thomas Peter By Poornima Gupta SAN FRANCISCO | Tue May 22, 2012 4:43pm EDT SAN FRANCISCO (Reuters) - Dell Inc's quarterly revenue fell more than Wall Street's expectations, hurt by weak sales to consumers, large enterprises and government units. Shares of the world's No. 3 maker of personal computers fell almost 8 percent to $13.90, from a close of $15.08 on Nasdaq. PC makers have struggled with slowing demand as mobile devices such as Apple Inc's iPad erode market share. Dell said revenue in its fiscal first quarter declined 4 percent to $14.4 billion, lower than the average analyst estimate of $14.9 billion according to Thomson Reuters I/B/E/S. Excluding one-time items, the company earned 43 cents, lower than the average Wall Street estimate of 46 cents. The company posted net income of $635 million, or 36 cents a share, down from $945 million, or 49 cents a share, a year earlier. For the second quarter of fiscal 2014, the company estimated revenue would rise 2-4 percent from first-quarter levels. Among the divisions, sales to consumers took a big hit with consumer revenue slipping 12 percent to $3 billion. Sales to large corporations declined 3 percent to $4.4 billion. (Reporting By Poornima Gupta; Editing by Richard Chang) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions