Dell Technologies Q2 Profit Down As Revenue Growth Slows Down; Shares Slip 7%

(RTTNews) - Dell Technologies Inc. (DELL) Thursday reported a drop in profit for the second quarter, as revenues growth slowed down from prior quarters. The shares slipped 7% in extended trading.

Round Rock, Texas-based Dell's second-quarter profit from continuing operations dropped to $506 million or $0.68 per share from $629 million or $0.80 per share last year.

Adjusted earnings were $1.27 billion or $1.68 per share for the period, up from $1.17 billion or $1.48 per share last year. Analysts polled by Thomson Reuters estimated earnings of $1.64 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter grew 9% to $26.43 billion from $24.19 billion last year. Analysts had a consensus revenue estimate of $26.49 billion.

Client Solutions Group revenues grew to 9 % to $15.5 billion, while Infrastructure Solutions Group revenue rose 12% to $9.5 billion.

DELL closed Thursday's trading at $47.90, up $1.28 or 2.75%, on the Nasdaq. The stock, however, slipped $3.50 or 7.31%, in the after-hours trading.