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Thursday, November 15, 2012

Engadget: Dell reports Q3 earnings: $13.7 billion in revenue, net income drops 47% year-over-year

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Engadget
Engadget
Dell reports Q3 earnings: $13.7 billion in revenue, net income drops 47% year-over-year
Nov 15th 2012, 20:35

Dell reports Q3 earnings: $13.7 billion in revenue, net income drops 47% year-over-year

Dell's revenues and profits continued to shrink in Q3 of 2013. While the manufacturer did manage to rake in revenues of $13.7 billion, that marks a significant drop from Q2's $14.5 billion and the $15.5 billion it pulled in over the same period last year. Even profits took a sharp downturn, with only $475 million of the money coming in boosting the bottom line. By comparison, Q3 of 2012 saw Dell padding its pockets with $893 million in net income -- that's a 47 percent drop. One of the few bright spots for the Texas company continues to be its Enterprise Solutions division, which has seen its revenues grow three-percent year-over-year. Unfortunately, that may not be enough to stave off losses for much longer as its consumer division continues its dramatic slide, posting a total loss of $65 million. The drop off was global as well, with revenues dropping by double digits in Europe and Asia and 9 percent here in the US. With its small and medium business units holding steady and the enterprise services accounting for almost 50 percent of the company's gross margin, we wouldn't be surprised if Dell further shifted its focus from the consumer sector.

Continue reading Dell reports Q3 earnings: $13.7 billion in revenue, net income drops 47% year-over-year

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Dell reports Q3 earnings: $13.7 billion in revenue, net income drops 47% year-over-year originally appeared on Engadget on Thu, 15 Nov 2012 16:35:00 EDT. Please see our terms for use of feeds.

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Written by Hasloo Network staff.