Dell 1Q profit, revenue top Street forecasts - Forbes.comSAN FRANCISCO (Thomson Financial) - Dell Inc. late Thursday reported first-quarter net earnings rose 4% to $784 millionm, or 38 cents a share, topping the 34-cent mean estimate of analysts polled by Thomson Reuters.
In the same period last year, the Round Rock, Texas-based computer giant earned $756 million, or 34 cents a share.
Revenue rose 9% to $16.08 billion, above the $15.7 billion consensus estimate.
Notebook unit growth in the quarter ended May 2 was 43%.
Dell (nasdaq: DELL - news - people ) said its headcount has been reduced by 7,000 in the past year, including a reduction of about 3,700 in the first quarter. The company has added about 2,700 employees through acquisitions, making the net reduction for the company about 5%.
Looking ahead, '[t]he company is seeing conservatism in IT spending in the U.S. particularly with its global and large customers as well as public, small and medium business accounts,' Dell said in a statement.
Dell expects the conservatism to continue through the summer.
The company also expects to have lower investment and other income driven by reduced investment balances with lower interest rates and increased interest expense driven by a higher level of debt.
Shares of Dell closed at $21.81.
Thursday, May 29, 2008
Dell 1Q profit, revenue top Street forecasts - Forbes.com
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