Thursday, August 5, 2021

Dell Shares Fall After Sales Forecast

Bloomberg: A lackluster fourth quarter earnings report and grim predictions for the current quarter have caused Dell’s stock to drop dramatically, dragging many other technology stocks with it. The world’s third largest PC maker reported net income of $764 million, or 43 cents a share, in the fourth quarter of 2011. That marked an 18 percent decrease from the company’s $927 million in income the previous year. Following the announcement, Dell’s stock dropped 7.3 percent yesterday.

Dell blamed sluggish consumer and government sales, as well as the disk drive shortage caused by flooding in Thailand, for its poor showing. The company expects to continue to feel the effects of those pressures in the current quarter and predicted that sales would be 7 percent lower than last year, much lower than analysts’ expectations.

Similar articles

Latest Articles

Data Belongs in the...

In 2012, IBM made an oft-quoted claim that 90 percent of the world's data has been created in the last two years. They grossly...

Google Cloud Rolling Out...

WASHINGTON, D.C. — Google Cloud is helping the government sector with zero trust. The set of services are designed to help U.S. federal, state, and...

CFOs Committing to Digital...

STAMFORD, Conn. — More CFOs are planning to increase their spending on digital than any other part of the business in 2021. Eighty-two percent of...

SAP and IBM Partnering...

WALLDORF, Germany and ARMONK, N.Y. — SAP and IBM are working together to help financial institutions accelerate cloud adoptions and “modernize operations.” SAP plans to...