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Dell Computer Profit Rises 40% in 3rd Quarter

November 10, 2000|Reuters

Dell Computer Corp. reported a 40% increase in third-quarter profit to $674 million, or 25 cents a share, matching the consensus estimate of analysts, on surging sales of high-end equipment and notebook computers. The personal-computer maker's total sales rose 22% to $8.3 billion. Sales of powerful business computers known as servers, storage products and workstations rose 37%, while sales of Inspiron and Latitude notebook computers were up 50%. "Our worldwide shipments of servers and notebooks grew significantly faster than the overall industry rate," said Chairman Michael Dell. "We added more than a point of market share and moved closer to the No. 1 ranking in both product categories." The company confirmed its guidance for full-year sales growth of 27% to $32 billion. That's down a notch from the 30% growth rate Dell executives had said was possible earlier this year. Dell reported its results after the markets closed. Its shares fell to $27 in after-hours trading after closing at $28.38, down $1.94, on Nasdaq.

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