Posts Tagged ‘profits’
Customers worldwide are buying fewer computers and the 5% drop in the US computer maker Dell’s quarterly profits is a clear evident of it.
Dell profits in the third quarter were $ 766m a year back, while they are just $727m this year.
According to Brain Gladden, Dell’s chief financial officer, “We are expecting that the same challenging environment will continue.”
Dell told that there was a 3% (about $15bn) decrease in its sales that was a bit less than analysts were expecting.
In America, which is its largest region for sales to business, Dell’s profits dropped around 8%.
There is also a lack of product diversity in Dell, while its biggest rival, Hewlett-Packard has been enjoying this as it announces this week that it would exceed analysts’ forecast for the most recent quarter.
On Tuesday, Asian stock markets opened quietly after dramatic rises of the previous two days.
In Japan, the Nikkei index was 1.4% down at noon and similarly shares in Taiwan and Australia were also down.
Wall Street also saw downward trend at the close of trading. After big rises in stocks on Monday, the investors took some profits and it was the basic factor behind slight downward trend.
The increasing fears that global economy may not easily recover from recession also became the cause to push the Dow Jones index 0.82% as investors are paying attention to worsening economic outlook.
According to some traders Wall Street might be nervous in the coming weeks because of increasing worries. Read the rest of this entry
General Electric (GE) has decreased its earning forecasts considering recent unrest in the financial markets. Now the 3rdQ profits are expected 43-48 cents per share while they were 50-54 per share in a previous forecast.
The company also decreases its earning forecast for the full-year to $19.5bn-$21bn that were $22bn-$23bn in the earlier prediction.
According to the company, many other steps are also being taken to boost its fund and it also includes suspension of its funds.
It has also been stated that the company may leave its dividend at $1.24 per share till the end of next year. It is happening first time that the company has not raised the payout since 1970. Read the rest of this entry
