Technology companies had a good day on Thursday, with Hewlett Packard exceeding expectation and many others driving up the S&P 500 and tech laden Nasdaq. The same can’t be said for Dell, who fell short of their own outlook for the fourth-quarter predictions with a decline in net income of 5 percent to $334 million.
Though profit fell, the Texas based company announced that revenue in the quarter that closed January 29, gained 11 percent to $14.9 billion with increased demand for PCs. Dell experienced revenue growth across all segments, with the most significant growth in services, which shot up 51 percent.
Dell relies primarily on purchases from business, which cut tech spending through the recession and are slow to revive the budget.
Analaysts are predicting Dell’s first quarter revenue to hit$13.5 billion and net income of $529.6 million. Dell is also optimistic anticipating commercial businesses looking to refresh their technology in the coming months.
After market closing and the release of figures, Dell shares slipped 4.7 percent, to $13.75. Earlier in the day, shares of the company saw 2 percent growth, closing at $14.39.
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