Dell's 3rd Qtr Profits Surge $144% (DELL)

Dell Inc. DELL released financial results on Thursday after the market closed that beat Wall Street earnings estimates, while missing revenue expectations. Dell Inc announced that its 3rd quarter net income jumped 144% to $822 million, or 42 cents per share, up from $337 million, or 17 cents per share, a year earlier. Excluding special items, the company reported earnings of 45 cents per share. The company's revenue rose 19% to $15.39 billion, up from $12.9 billion a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 32 cents per share, on revenue of $15.74 billion. Chairman and chief executive officer Michael Dell said, “Our strong results demonstrate that we are listening to customers and delivering what they want. It validates that our strategy to offer choice and efficiency at every level of the IT enterprise computing stack is taking hold, and we are more focused than ever to being a true partner – not merely a provider – to our customers. Dell is growing in the right areas, and I'm very excited about our momentum.” Dell Inc. (DELL) finished the trading day at $13.67 per share. The consensus price target of analysts covering the company's stock is $15.87 per share. Read more from Benzinga's Company news.