Dell Falls on Q3 Earnings Miss
NEW YORK (TheStreet) -- Dell(DELL) shares are moving lower in after-hours, as the PC maker missed Wall Street expectations.
The Round Rock, TX.-based technology company earned 39 cents a share on a non-GAAP basis, on $13.7 billion during the quarter ending Sept. 30. Revenue fell 11% year-over-year, as desktop and mobility revenue decreased.
Analysts polled by Thomson Reuters expect Dell to earn 40 cents a share on $13.89 billion in revenue.
"We are consistently executing our end-to-end solutions strategy for the benefit of our customers," said Dell CEO Michael Dell, in the press release. "In the quarter, we completed the acquisition of Quest Software which - along with other recent acquisitions like SonicWALL and Wyse - adds leading management, security, virtualization and cloud capabilities to our expanding portfolio of powerful solutions."
Dell generated $1.3 billion in cash flow from operations during the quarter. As of the end of Sept. 30, Dell had $14.2 billion in cash and investments.
Dell provided fourth-quarter guidance. It expects revenue to grow 2% to 5% sequentially, implying revenue between $13.97 billion and $14.38 billion. The company expects full-year non-GAAP earnings of at least $1.70 a share. Wall Street analysts polled by Thomson Reuters are looking for 40 cents a share on $14.48 billion in sales.
Shares of Dell ended Thursday's session flat, closing at $9.58. The stock is moving higher in extended-hours trading, losing 0.63% to $9.50 according to Nasdaq.com.
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--Written by Chris Ciaccia in New York
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