Wednesday September 30, 2020

Dell shares drop after revenue forecast

Dell shares tumbled 13 per cent in extending trading yesterday after the company forecast fiscal second-quarter revenue that missed analysts’ estimates.

23rd May, 2012
Michael Dell.

Dell shares tumbled 13 per cent in extending trading yesterday after the company forecast fiscal second-quarter revenue that missed analysts’ estimates.

Revenue for the period ending in July will be $14.7 billion to $15 billion, Texas-based Dell said in a statement, compared with the average $15.4 billion analyst estimate compiled by Bloomberg.

The forecast, paired with a first-quarter sales and earnings miss, pointed to problems endemic to Dell, Steve Felice, Dell’s president, said in a conference call. The...

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