Dell Jumps After Earnings (DELL)

Dell Inc. DELL released its first quarter earnings results on Tuesday after the closing bell. The company reported GAAP net income of $945 million or $0.49 per share, compared to $341 million, or $0.17 per share in the year ago period. On a non-GAAP basis, net income was $1 billion or $0.55 per share, versus $0.6 billion or $0.30 per share in last year's corresponding quarter. Going into the report, Wall Street analysts had consensus EPS estimates of $0.43. Revenues were up to $15 billion compared to $14.9 billion in Q1 of 2010. This missed Wall Street consensus revenue estimates of $15.40 billion. The company said that it expects full year revenues to be up between 5-9%, which compares to top line growth estimates of 5%. In the after hours trading session, DELL shares have gained 5% to $16.70.