PC maker Dell (DELL) said today its third-quarter profit fell 5 percent as businesses around the world bought fewer computers and other...
ROUND ROCK, Texas — PC maker Dell (DELL) said today its third-quarter profit fell 5 percent as businesses around the world bought fewer computers and other technology products.
Dell’s earnings dipped to $727 million, from $766 million a year ago. But Dell bought back a significant number of shares over the last year, pushing earnings per share up 9 percent, to 37 cents a share.
That was 3 cents better than analysts were expecting, according to a Thomson Reuters poll.
Sales slipped 3 percent to about $15 billion. The slowdown in spending by corporations could not be offset by a 10 percent rise in consumer PC revenue. The revenue figure fell short of analyst expectations for $16.2 billion.
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Shares of Dell jumped up 6.4 percent in extended trading, after falling 5 percent to close at $9.81 in the regular trading session before the earnings report came out.