Dell (DELL) Shares Higher as Q2 Results Beat

Dell (Nasdaq: DELL) surprised investors this afternoon when the company released its Q2 earnings report minutes before the closing bell sounded (maybe even Dell was surprised by the release). Shares of Dell jumped more than 6% before the market closed, and the stock has remained flat after the close.

The tech-bellweather reported quarterly EPS of $0.28, excluding items, or $0.24 unadjusted, down 23% from the $0.31 reported in the same quarter last year. Sales came in at $12.76 billion, down 22% from last year, but better than Wall Street analysts had been expecting. Notably, Dell also beat the Street on the earnings number.

Dell also issued the following statement regarding its Q3 outlook:

"In the third quarter, the company expects seasonal demand improvements from the Consumer and U.S. federal government businesses, but the quarter is also generally a period of slower demand from large commercial customers in the U.S. and Europe. Dell believes a refresh cycle in commercial accounts is more likely to occur in 2010, with IT spending improving first in the U.S. The company continues to see pressure in the form of component costs and areas of aggressive pricing in the near term, and continues to take actions to offset these items. The company will continue to focus on implementing cost improvements and strategic investments to improve operations for the long term."

UPDATE: Click here to see some highlights from Dell's Q2 conference call.

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