Dell Losing Ground After Earnings Report (DELL)

Dell Inc. DELL released its Q2 earnings results today after the closing bell. The company announced net income of $545 million or $0.28 per share, compared to $472 million or $0.24 per share in the year ago period. Non-GAAP net income, which is comparable to analysts' consensus, was $629 million or $0.32 per share, versus $575 million or $0.29 per share in Q2 2009. This compared with analysts' consensus EPS estimates of $0.30. Net revenue was up 22% to $15.53 billion versus $12.76 billion in last year's corresponding quarter. This came in ahead of Wall Street revenue expectations of $15.21 billion. After initially trading higher, DELL shares have fallen 1% in after hours trade.