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Dell shares fall on 54pc decline in quarterly profits
20.11.2009
Categories:
Leadership, Technology
Tags:
Dell,
Shares in US computer manufacturer Dell have fallen on news of a further decline in the company’s quarterly profits.
Dell has reported a 54pc fall in net profit to US$337m in the three months to October, compared to the US$727m reported in the same quarter a year previous.
Total third-quarter revenues were US$12.9bn, which is a 1pc increase on revenues reported in the second quarter of the year but a 15pc decline on reported revenues during the third quarter a year ago.
However, the company said it is seeing improvement in overall underlying IT demand that is continuing into the fourth quarter, adding that the same is true with momentum in Dell’s business, specifically in its large enterprise and SMB segments.
“The launch of Windows 7 is being very well received by SMBs and consumers, and we’ll see the benefits of that more fully in our fiscal Q4,” said the Chairman and CEO of Dell, Michael Dell (pictured).
In terms of outlook, Dell said it is expecting fourth-quarter revenue to improve over the third quarter, with a Christmas boost in demand in its consumer business predicted during the fourth quarter.
The company also said it is seeing improvement in underlying sequential trends in several areas, including a significant portion of its commercial business.
“Recent technology introductions, indications of improving economic activity and the prospect of a lift in associated IT spending position the company well, particularly as commercial customers upgrade their technology beginning in 2010,” Dell said.
Pictured: Chairman and CEO of Dell, Michael Dell
Categories:
Leadership, Technology
Tags:
Dell,