Dell Technologies Inc (NYSE:DVMT) stock was on a wild ride Monday after releasing its earnings report for the first quarter of 2018.
During the first quarter of the year, Dell Technologies Inc reported revenue of $21.36 billion. This is up from its revenue of $18.00 billion that was reported in the first quarter of 2017. It also beat out Wall Street’s revenue estimate of $19.55 billion for the period, but couldn’t keep DVMT stock up today.
Dell Technologies Inc’s earnings per share for the first quarter of 2018 came in at $1.24. This is an increase over its earnings per share of 75 cents from the same time last year. It also came in above analysts’ earnings per share estimate of $1.15 for the quarter.
Net loss reported by Dell Technologies Inc for the first quarter of the year was $538 million. This isn’t as wide as the company’s net loss of $1.20 billion that was reported in the same period of the year prior.
Dell Technologies Inc also reported an operating loss of $153 million for the first quarter of 2018. As with its net loss, this operating loss isn’t near as bad as the $1.27 billion that was reported in the first quarter of the previous year.
Dell Technologies Inc saw DVMT stock rise more than 1% Monday morning. Despite its earnings per share and revenue beat for the first quarter of the year, DVMT stock is now down slightly as of noon Monday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
