Dell's in the Doldrums: Tech Weekly
NEW YORK (TheStreet) -- Earnings season is winding down, with a few notable names reporting this week. Dell (DELL) offered a bleak tone, while Cisco (CSCO) was slightly more upbeat on the state of its business.
The Round Rock, Texas-based PC maker reported adjusted third-quarter earnings of 39 cents a share, missing the Thomson Reuters analyst consensus of 40 cents.
Dell's revenue for the quarter was $13.7 billion, 11% lower than the year-earlier quarter and short of the $13.89 billion analysts polled by Thomson Reuters were expecting. The top line was pressured by falling desktop and mobility revenue.
Dell is in the process of turning itself around, as it becomes less PC-centric, but the process is taking longer than expected.
Shares of Dell lost 5.9% over the course of the week to close at $8.84.
Cisco, on the other hand, beat Wall Street expectations, and sounded upbeat during its conference call relative to expectations.