Dell Warns Of A Weak Year, Stock Drops 5% After Hours

Michael Dell

Dell’s earnings came in a little light, and the company downgraded its expectations for the rest of the year.

The company reported EPS of $0.48 on sales of $15.7 billion. On average, analysts were expecting $0.49 per share on sales of $15.8 billion.

Both enterprise and consumer revenue was weak — both were up only 1% from last year.

Dell also warned that Q3 revenue would be flat, and said that it was expecting annual revenue growth of only between 1% and 5%. It previously expected growth of between 5% and 9%.

The stock is down about 5% after hours.