Dell beat earnings estimates by a penny after the close on Thursday, while revenues and forward guidance were in line with estimates.
With results largely as expected, the stock was little changed after hours.
Still, the report was a sound one, with server and storage sales up more than 40%, and balanced results around the globe.
No one executes like Dell.
“Dell is alone in simultaneously providing customers great value, growing faster than the industry and earning a compelling profit for investors,” COO Kevin Rollins said in a statement.
Sounds like hyperbole, but we’d have to agree.
Earnings were 29 cents a share, up 26%, while revenues rose 18% to $11.5 billion. Guidance of 28 cents and $11.2 billion in revenues for next quarter was in line with analyst estimates.
Also after the close, Analog Devices and Corvis
beat estimates, while NVIDIA
missed revenue estimates.
The broader market declined during the day as investors had another chance to hear Fed Chairman Alan Greenspan’s semiannual testimony to Congress. Retail sales and jobless claims were worse than expected.
The Nasdaq lost 16 to 2073, the S&P 500 declined 5 to 1152, and the Dow fell 43 to 10,694. Volume declined to 1.46 billion shares on the NYSE, and 1.95 billion on the Nasdaq. Decliners led 18-14 on the NYSE, and 19-12 on the Nasdaq. Downside volume was 56% on the NYSE, and 61% on the Nasdaq. New highs-new lows were 338-4 on the NYSE, and 233-2 on the Nasdaq.
Rambus plunged 18% on a European patent loss.
Sonus dropped 19% after revealing accounting problems.
Brocade edged higher after beating estimates, while Computer Sciences
lost 8% after missing estimates.
ValueClick edged higher on its results.
Bulletin Board stock eDiets soared 24% on news that it will soon be listed on the Nasdaq SmallCap Market under the symbol “DIET.”
And the market is picking up for chip IPOs.
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