TECH - Dell Disappoints With Q3 Revenue As PC Market Slowly Gets Back To Its Feet | Benzinga
On Thursday, Dell Technologies (NYSE: DELL) reported its third quarter results, with revenue coming short of estimates and overshadowing its earnings beat as hardware and software market are recovering in a slower than anticipated pace from its post-Covid crash. The market was expecting more after Intel Corporation (NASDAQ: INTC) and Advanced Micro Devices Inc (NASDAQ: AMD) gave a glimmer of hope that recovery is picking up just in head of the holidays. Its results mirror PC market trends its rival HP Inc (NYSE: HPQ) reflected when it guided for a weaker-than-expected first-quarter profit due to a slow PC market recovery and weak demand in China. Upon the report, Dell shares went down 4% after the bell.
Third Quarter Highlights
Revenue for the quarter ended on November 3rd, Dell reported sequentially flat revenue that dropped 12% YoY to $22.25 billion, with earnings of ...