Dell profit exceeds forecasts but shares slump
Computer maker Dell Inc reported a stronger-than-expected profit, but warned of volatile global currencies and components shortages, and the company's shares stumbled in after-hours trade.
Dell's net profit for the quarter that ended April 30 was $441 million, or 22 cents a share, compared with $290 million, or 15 cents a share, a year earlier.
Excluding items, profit was 30 cents a share, compared with the average Wall Street forecast of 27 cents, according to Thomson Reuters I/B/E/S.
Revenue rose 21 percent to $14.87 billion, compared with the average analyst estimate of $14.27 billion.
Dell reported an adjusted gross margin of 17.6 percent, up slightly from 17.4 percent in the previous quarter when it was hurt by sales of lower-priced personal computers and a rise in components costs.
Del shares fell to $13.60 in extended trade after closing at $14.32, extending their intraday decline of 4.41 percent.
(Reporting by Ritsuko Ando; Editing by Richard Chang)
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