The Clap
Dell (NYSE: DELL) reported an EPS of $2.3 per share and revenues of $24.7 billion, beating analysts’ expectations on both the top and bottom lines.
What
The strong earnings report comes as a result of improved supply chain conditions that lead to fewer costs for components and related logistics.
This allowed the company to attend to its backlog orders, reducing them significantly.
In addition, the company continues to suspend hiring for now as it looks to manage costs.
So What
Improving supply chain conditions mitigated the impact of slowing demand for PCs. The company saw its shares jump around 5% during after-hours.
Now What
Dell bought back $609 million in shares during Q3.
