Dell Technologies (NYSE:DELL) shares slid in after-hours trading Monday as the computer-technology giant reported third-quarter results that topped Wall Street analysts forecasts.
Dell (DELL) said that for the period ending October 28, it earned. $2,30 a share, excluding one-time items, on revenue of $24.7B in revenue. Analysts had forecast Dell (DELL) to earn $1.61 a share, on revenue of $24.6B. During the same period a year ago, Dell (DELL) earned $1.66 a share, on $26.4B in revenue.
Jeff Clarke, Dell's (DELL) co-chief operating officer, summed up the company's performance by saying, "We played our hand [in the third quarter] exceptionally well."
For its two major business groups, Dell (DELL) said its infrastructure solutions group [ISG] reported revenue of $9.6B, up 12% from a year ago. The group included servers, storage and networking gear and other technologies typically used by businesses and enterprise customers.
Dell's (DELL) client solutions group which includes desktop and laptop PCs, as well as monitors and other PC-related gear, turned in sales of $13.8B, which fell by 17% from the year-ago period. The group's two divisions illustrated what has been called a rough market for PCs as commercial revenue fell 13% from a year ago to $10.7B and consumer revenue dropped by 29%, to $3B.
Last week, Dell's (DELL) share took a hit when the company reached a $1B settlement to a class action suit stemming from its return to being a publicly traded company.
