: Dell’s stock is down on a revenue miss

Dell Technologies Inc.’s DELL stock dipped 2% in extended trading Thursday after the PC maker reported lower-than-expected quarterly revenue. Dell reported fiscal-third-quarter net income of $1 billion, or $1.36 a share, compared with net income of $241 million, or 33 cents a share, in the same quarter a year ago. Adjusted earnings were $1.88 a share. Revenue was $22.25 billion, down from $24.7 billion a year ago. Analysts surveyed by FactSet had expected on average net earnings of $1.46 a share on revenue of $23 billion. Shares of Dell have surged 89% this year, while the broader S&P 500 index SPX has improved 19%.

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