Dell Technologies Stock Plummets By 16% In Pre-Market Despite Beating Q1 Revenue Estimates
Portfolio Pulse from Pooja Rajkumari
Dell Technologies Inc. (NYSE:DELL) experienced a 16.3% drop in pre-market trading despite reporting first-quarter revenues that exceeded Wall Street expectations. The company reported a 6% year-over-year revenue increase to $22.24 billion, surpassing the consensus estimate of $21.67 billion. However, the absence of forward guidance in the earnings release may have contributed to investor uncertainty.
May 31, 2024 | 11:26 am
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Dell Technologies reported strong Q1 revenues of $22.24 billion, surpassing expectations. Despite this, the stock dropped 16.3% in pre-market trading, likely due to the absence of forward guidance.
Dell's strong revenue performance was overshadowed by the lack of forward guidance, leading to significant investor uncertainty and a sharp decline in the stock price. The market's reaction suggests that investors were looking for more clarity on future performance.
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