>i>Dell said net profit fell to 290 million dollars, or 15 cents per share, in the first quarter of its fiscal year from 784 million dollars, or 38 cents per share, in the same quarter a year ago.More details at AFP.
Wall Street analysts had forecast earnings of 23 cents per share.
Revenue declined 23 percent during the February-April period to 12.3 billion dollars, the Texas-based company said, slightly lower than the 12.7 billion dollars forecast by analysts.
Dell managed to keep expenses in line with expectations despite costs of recent restructuring.
"We're continuing to transform the company on the cost side and delivering strong cash flow," chairman and chief executive Michael Dell said.
Dell's profit fell 63 percent
Posted on Friday, May 29 2009 @ 23:46 CEST by Thomas De Maesschalck