Dell (DELL) Misses Q1 Views on Weaker Overall Sales; Issues Modest Outlook
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Price: $13.34 -0.07%
Revenue Growth %: +2.1%
Financial Fact:
Operating Income: 698M
Today's EPS Names:
ANF, DXLG, FL, More
Revenue Growth %: +2.1%
Financial Fact:
Operating Income: 698M
Today's EPS Names:
ANF, DXLG, FL, More
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Dell Inc. (Nasdaq: DELL) shares are getting hit in late-Tuesday trading following first-quarter 2013 results which showed a drop across all metrics.
Revenue was $14.42 billion, down 4 percent from $15.02 billion in the same period last year. Non-GAAP net income dropped from $1.05 billion to $761 million, or 43 cents per share.
The Street was looking for revenue of $14.91 billion and EPS of 46 cents.
Large Enterprise revs slipped 3 percent to $4.44 billion while Small and Medium Business sales was the only segment to show growth, up 4 percent in the quarter.
Gross margin improved from 22.9 percent last year down to 21.3 percent.
"We’re committed to continuing our strategy to re-shape Dell’s business as an end-to-end IT provider," commented CEO Michael Dell.
One key highlight was where revenue came from: "Asia-Pacific and Japan revenue was flat but China increased 9 percent. EMEA revenue was down 1 percent in the quarter. Americas was down 7 percent. Revenue in the BRIC countries increased 4 percent."
Looking ahead, Dell sees second-quarter 2013 revs up 2 percent to 4 percent sequentially.
Shares are down nearly 10 percent after hours.
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Revenue was $14.42 billion, down 4 percent from $15.02 billion in the same period last year. Non-GAAP net income dropped from $1.05 billion to $761 million, or 43 cents per share.
The Street was looking for revenue of $14.91 billion and EPS of 46 cents.
Large Enterprise revs slipped 3 percent to $4.44 billion while Small and Medium Business sales was the only segment to show growth, up 4 percent in the quarter.
Gross margin improved from 22.9 percent last year down to 21.3 percent.
"We’re committed to continuing our strategy to re-shape Dell’s business as an end-to-end IT provider," commented CEO Michael Dell.
One key highlight was where revenue came from: "Asia-Pacific and Japan revenue was flat but China increased 9 percent. EMEA revenue was down 1 percent in the quarter. Americas was down 7 percent. Revenue in the BRIC countries increased 4 percent."
Looking ahead, Dell sees second-quarter 2013 revs up 2 percent to 4 percent sequentially.
Shares are down nearly 10 percent after hours.
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