Dell: FY Q3 Revs Miss By $1B; But EPS Beats By 6 Cents

For Dell (DELL) , once a growth story, the focus is now on cost controls. For the fiscal third quarter ended October 31 , the company posted revenue of $15.162 billion, more than $1 billion less than the Street consensus of $16.22 billion, and down 3% from the year-earlier quarter.Unit shipments were up just 3% from a year earlier. But profits of 37 cents a share, while down from 44 cents a year earlier, were nicely ahead of the Street at 31 cents. The company noted that operating expenses were 12.1% of revenue, down 11% on a dollar basis from a year earlier. Dell said it cut 2,200 positions in the latest quarter; headcount is now down 9% from a year ago. Dell did not give specific guidance in the release, but did say that “global IT demand will continue to be challenging,” and that it will continue to focus on improving competitiveness, lowering costs and improving its mix of products and services. The company said it will continue to reduce headcount in certain areas, and ... (link)