Dell Profit Missing Estimates Boosts CEO’s Buyout Plan
This article is for subscribers only.
Dell Inc. reported fiscal first-quarter profit that missed analysts’ estimates, underscoring the worsening outlook that led the company’s founder to seek a buyout designed to reinvigorate growth.
Profit excluding some items fell to 21 cents a share for the period that ended May 3, from 43 cents a year earlier, Round Rock, Texas-based Dell said in a statement yesterday. Analysts on average had projected 35 cents, according to estimates compiled by Bloomberg. Revenue declined 2.4 percent to $14.1 billion, beating analysts’ average $13.5 billion projection.