Dell Inc. (NASDAQ:DELL) Shares Plunge After Poor Earnings
By Benzinga Staff15
November 19, 2009 4:53 PM
November 19, 2009 4:53 PM
Symbols: DELL
Posted in: Earnings, After-Hours Center
For the third quarter Dell Inc. (Public, NASDAQ: DELL) reported net income of $337 million or $0.17 a share Vs $727 million or $0.37 a share, a year ago quarter. While it’s net revenue for the quarter fell 15% to $12.90 billion from $15.16 billion in the prior-year quarter. Both these numbers were well below the analysts estimates of $0.28 a share on net revenue of $13.18 billion.
For its fourth quarter, Dell didn't give an exact earnings or revenue outlook, but said that it expects sales to improve.
Following its poor results, shares of DELL plunged about 6% to $14.92 in after hours trading.
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