Dell Projects Profit That Falls Short of Estimates on PC Warning
- Company says disappointing quarterly server sales will rebound
- Hardware giant commits to $1 billion of stock buybacks
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Dell Technologies Inc. gave a profit forecast that fell short of Wall Street estimates, in a sign that weaker corporate demand for personal computers will take a toll on the hardware giant.
Profit, excluding some items, will be $5.90 to $6.60 a share in fiscal 2021, Chief Financial Officer Tom Sweet said Thursday during a conference call. Analysts, on average, projected $6.72, according to data compiled by Bloomberg.