Dell Earnings Beat Estimates, Led By Networking
NEW YORK (TheStreet) -- Dell (DELL) reported fourth-quarter results that beat Wall Street estimates after market close, snapping a string of misses.
The Round Rock, Texas-based company reported fourth-quarter non-GAAP earnings of 40 cents a share on $14.3 billion in revenue, down 11% year-over-year, but up 4% over the previous quarter. The company noted that networking was strong, with revenue from this segment growing 42%.
Analysts polled by Thomson Reuters were looking for earnings of 39 cents a share on $14.1 billion in revenue.
"We continued to execute our long-term strategy in Q4, and realized a 6 percent increase in our enterprise solutions and services business," said Brian Gladden, Dell CFO in the release. "We also continued to generate strong cash flow from operations of $1.4 billion in the quarter. Our strong balance sheet and cash position enabled the company to invest almost $5 billion in new capabilities and intellectual property this fiscal year, including great assets like Quest, SonicWall, Wyse and AppAssure."
Citing the announcement to take the company private, Dell is not providing an outlook for its fiscal 2014 or the first quarter.
Dell shares fell 0.07% today, to close at $13.80, just above the take private price of $13.65. Shares are moving higher in after-hours, trading at $13.87, up 0.5% according to Nasdaq.com.
Dell will hold a conference call at 5 p.m. EST to discuss the results.
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--Written by Chris Ciaccia in New York
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