Dell Lets the Fourth-Quarter Cat Out of the Bag
The new leader in domestic PC market share preannounced earnings, and they ain't pretty.
Rumors about Dell (DELL) missing fourth-quarter estimates had been swirling for some time, but the company finally let the cat out of the bag.
Dell has become yet another PC maker to fall victim to component shortages and Y2K concerns in the fourth quarter. The company preannounced that revenues will most likely be around $6.7 billion in its fiscal fourth quarter, which ends January 31. With sales coming in well below expectations, Dell estimated that its profits will miss estimates by about $0.05 per share, or 24% short of expectations.
Jeremy Lopez does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.