
Please try another search
(Reuters) -Dell Technologies Inc and HP Inc (NYSE:HPQ) reported quarterly revenue that beat Wall Street estimates on Thursday, as customers continued to shop for personal computers, even as pandemic-led restrictions eased in many parts of the world.
However, shares of Dell fell 1%, while those of HP dropped as much as 6%, after both companies warned the ongoing computer chip shortage could impact their ability to meet demand for laptops this year.
"The component supply situation remains constrained," Dell Chief Financial Officer Thomas Sweet said in post earnings call, adding that rising costs to procure these chips would hit its operating income in the current quarter by the low to mid-single digits and lead to slightly lower revenue on a sequential basis.
HP Inc, which ranks second among global PC vendors according to IDC data, said the shortages would limit its ability to supply personal computing devices and printers at least until the end of the year.
Still, the companies, which are leaders in the personal computing industry, said they were bullish on the overall market, expecting the surge in demand for laptops needed by people working and going to school remotely to continue.
Global shipments of PCs, the industry's collective term for laptops and desktops, grew 55.2% during the first quarter, according to preliminary data from research firm IDC.
Dell said revenue from its client solutions group, which includes desktops, notebooks and tablets, rose 20% to $13.31 billion in the reported quarter.
HP's PC-related sales rose 27% in the quarter ended April 30, while notebook sales surged 47% from the same period a year earlier.
Dell's revenue rose 12% to $24.49 billion in the first quarter, beating estimates of $23.40 billion, according to Refinitiv IBES data, while HP posted overall revenue of $15.9 billion above the $15 billion estimate.
By Chibuike Oguh New York (Reuters) - Global equities fell and the U.S. dollar rose on Monday after weaker-than-expected economic data in China prompted the country's central bank...
By Bansari Mayur Kamdar and Susan Mathew (Reuters) - U.S. stock indexes fell on Monday, mirroring global markets, after weak economic data from China rekindled fears of an...
(Reuters) - London's Heathrow Airport said on Monday it will extend the cap on flight departures to Oct. 29 as it looks to support more "reliable and resilient" passenger...
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.