Wednesday August 5, 2020

Dell Q1 profits miss forecasts

The plunge in profit lends credence to a plan by CEO Michael Dell and Silver Lake Management to take the company private in a $24.4 billion leveraged buyout.

17th May, 2013
Michael Dell

Dell has reported fiscal first-quarter profit that missed analysts’ estimates, underscoring the worsening outlook that led the company’s founder to seek a buyout designed to reinvigorate growth.

Per share profits fell to 21 cents for the period that ended May 3rd, from 43 cents a year earlier, Dell said yesterday.

Analysts on average had projected 35 cents, according to estimates compiled by Bloomberg.

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