Business & Tech
Round Rock-based Dell Technologies Inc. Exceeds 3rd Q Earnings
Shares rose more than 1 percent in after-hours trading on income of $552 million or 66 cents per share — exceeding analysts' expectations.
ROUND ROCK, TX — Round Rock-based Dell Technologies Inc. quarterly earnings exceeded Wall Street expectations this week even as sales came up short, according to reports.
Shares rose more than 1 percent in after-hours trading on Tuesday, the company reported. The company posted third-quarter income of $552 million, or 66 cents per share, on sales of $22.84 billion. That's up from $22.48 billion during last year's comparable period, according to company balance sheets.
MarketWatch noted that after adjusting for stock-based compensation and other costs, Dell reported earnings of $1.75 per share — up from 87 cents per share one year ago.
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According to FactSet, analysts on average had expected adjusted earnings for Dell of $1.59 a share on sales of $23.03 billion. Dell officials credited the earnings beat to strength in storage and PC sales, as well as the performance of VMware Inc., MarketWatch reported.
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