Why Dell Technologies Stock Topped the Market on Thursday
The PC market might be in a long-tail slump, but that didn't seem overly concerning to Dell Technologies (NYSE: DELL) investors on Thursday. Following the release of the storied computer hardware retailer's latest quarterly results Thursday, market players bid up the stock by 1.5%. That contrasted favorably with the 0.6% decline of the S&P 500 index.
Dell reported its first-quarter results of fiscal 2024, revealing that it earned revenue of $20.9 billion. That was down 20% on a year-over-year basis, but that topped the average analyst estimate of $20.3 billion.
The dynamic was similar with non-GAAP (adjusted) net income, which tumbled by 33% to $963 million ($1.31 per share) but still beat the prognosticator consensus ($0.86).
Source Fool.com
