Computer hardware giant Dell Technologies (DELL) late Thursday crushed Wall Street’s estimates for its fiscal second quarter. Dell stock jumped in extended trading.
The Round Rock, Texas-based company earned an adjusted $1.74 a share on sales of $22.93 billion in the quarter ended Aug. 4. Analysts polled by FactSet had expected Dell earnings of $1.14 a share on sales of $20.86 billion. In the year-earlier period, Dell earned an adjusted $1.68 a share on sales of $26.42 billion.
In after-hours trading on the stock market today, Dell stock surged 7.3% to 60.37. During the regular session Thursday, Dell stock advanced 1% to close at 56.24.
Earnings report details to follow.
Dell Stock Ranks Fifth In Group
Earlier this week, Dell peers HP (HPQ) and Hewlett Packard Enterprise (HPE) reported quarterly results.
Personal computer and printer maker HP matched earnings expectations for its fiscal third quarter but its sales were light. HP also guided lower for the current period.
Meanwhile, HPE edged above Wall Street’s targets for its fiscal third quarter but gave a mixed outlook. HPE makes computer servers, networking equipment and data storage systems.
Dell ranks fifth out of 14 stocks in IBD’s Computer-Hardware/Peripherals industry group, according to IBD Stock Checkup. Dell stock has an IBD Composite Rating of 79 out of 99.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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