Dell stock falls as shortfall offsets new dividend

Shares of Dell Technologies Inc. fell in extended session Thursday after the computer maker’s earnings fell short of Wall Street expectations while the company’s board issued a dividend.

DELL DELL,
-1.66%
shares fell more than 7% after hours, after falling 1.7% in the regular session to close at $55.84.

Dell reported a fourth-quarter loss of $29 million, or 4 cents per share, from continuing operations, compared with net income of $695 million, or 90 cents per share, in the same period a year earlier.

Adjusted earnings, which exclude stock-based compensation expense and other items, were $1.72 per share, compared to $1.76 per share for the same period last year. Analysts polled by FactSet had forecast earnings of $1.95 per share.

Dell’s revenue reached $27.99 billion, compared to $26.11 billion in the year-ago quarter, while analysts expected revenue of $27.5 billion.

The company also said its board of directors had initiated a dividend, starting at 33 cents per share for the quarter, payable April 29 to shareholders of record as of April 20.

Over the past 12 months, Dell shares have risen 35%, against a 9.3% rise in the S&P 500 SPX index,
+1.50%
and a 0.9% drop in the tech-heavy Nasdaq COMP composite index,
+3.34%.

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