Greater cost control dell helped the laptop maker beat estimates for profit and revenue in the first quarter of this year, although numbers have fallen year-on-year, according to results released on Thursday.
The numbers bring a positive sign to manufacturers of personal computers (PCs), which have been dealing with falling demand for over a year.
To the actions of the company fell 2% in the post-market, after rising 5% in the regular session. Trading in the shares was interrupted after the results were announced during the trading session, before the scheduled time for disclosure, which was after the closing of the markets.
The results of dell offer some relief for the sector after weak numbers from rivals HP and Lenovo raised concerns that recovery in the PC market was still some way off.
“We maintained pricing discipline, reduced operating expenses, and our supply chain continued to do well, outperforming competitors,” said Chuck Whitten, co-chief operating officer at Dell.
Total operating expenses fell 6% in the quarter to $3.57 billion year-on-year.
First-quarter revenue fell 20% to $20.92 billion from analyst expectations of $20.27 billion, according to Refinitiv data.
Demand for desktops and laptops has slowed recently, following a spike in demand during the most acute part of the pandemic, leading to a backlog of inventory amid the uncertain economic outlook.
Excluding items, Dell earned $1.31 per share, down 29% year-on-year but better than the estimate of $0.86 per share.
Source: Moneytimes
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