Dell Down 7% After Missing Earnings Estimates
Shares of Dell (NASDAQ: DELL) are down 7% today after the company missed earnings estimates.
Revenue in the quarter was $16 billion, a 2 percent increase over the previous year. Dell had an extra week in its fiscal year 2012 that was incorporated into the company's Q4. Revenue for the 2012 fiscal year was $62.1 billion, a 1 percent increase.
GAAP earnings per share in the quarter was 43 cents, down 10 percent from the previous year; non-GAAP EPS was 51 cents, down 4 percent. For the fiscal year, GAAP EPS was $1.88, up 39 percent year over year and Non-GAAP EPS was $2.13, up 34 percent, both records.
“Our customers think of Dell in much broader terms now, trusting us with their comprehensive IT needs, from the datacenter to the device,” said Michael Dell, chairman and CEO. “We are more committed than ever to both developing and investing in innovative solutions that deliver greater value and better outcomes for our customers.”
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.