Dell took a hard hit on Wall Street Wednesday after it revealed sluggish PC sales and a disappointing quarterly earnings report. Shares of Dell were down 17 percent Wednesday, Dell’s biggest one-day drop since 2000. The stock, already down 15 percent on the year, closed at $12.49. Shareholders expressed disappointment with the company’s Tuesday earnings report. Dell revealed revenue of $14.4 billion for its fiscal first quarter, down 4 percent from a year ago and lower than expected. Profit was down 33 percent to $635 million.
Loading ...
Dell Shares Take Thrashing After Sour Earnings Report
Posted by: Rachelle Dragani May 23, 2012 03:25 PMDell took a hard hit on Wall Street Wednesday after it revealed sluggish PC sales and a disappointing quarterly earnings report. Shares of Dell were down 17 percent Wednesday, Dell’s biggest one-day drop since 2000. The stock, already down 15 percent on the year, closed at $12.49. Shareholders expressed disappointment with the company’s Tuesday earnings report. Dell revealed revenue of $14.4 billion for its fiscal first quarter, down 4 percent from a year ago and lower than expected. Profit was down 33 percent to $635 million.