This post was originally published on this site
Dell Technologies Inc. shares dropped in the extended session Thursday after the computer maker’s earnings fell short of Wall Street expectations while the company’s board initiated a dividend.
Dell
DELL,
shares fell more than 7% after hours, following a 1.7% decline in the regular session to close at $55.84.
Dell reported a fourth-quarter loss of $29 million, or 4 cents a share from continuing operations, compared with net income of $695 million, or 90 cents a share, in the year-ago period.
Adjusted earnings, which excludes stock-based compensation expenses and other items, were $1.72 a share, compared with $1.76 a share in the year-ago period. Analysts surveyed by FactSet had forecast earnings of $1.95 a share.
Dell’s revenue rose to $27.99 billion from $26.11 billion in the year-ago quarter, while analysts had forecast revenue of $27.5 billion.
The company also said its board initiated a dividend, starting at 33 cents a share for the quarter, payable on April 29 to shareholders of record as of April 20.
Over the past 12 months, Dell shares are up 35%, compared with a 9.3% rise in the S&P 500 index
SPX,
and a 0.9% decline in the tech-heavy Nasdaq Composite Index
COMP,
