ROUND ROCK, Texas (AP) — Dell says its net income for the most recent quarter more than doubled as big companies spent more to replace aging technology.
An increase in corporate spending on new technology helped Dell Inc. in the quarter, as the company makes the majority of its revenue from selling PCs. Computers are less profitable than smaller slices of Dell’s business, but the company still managed to improve gross margin.
For the quarter that ended Oct. 29, Dell’s net income was $822 million, or 42 cents per share. Excluding items, Dell earned 45 cent per share.
Revenue jumped 19 percent to $15.4 billion. Dell’s costs increased at a slower clip.
Analysts surveyed by Thomson Reuters expected Dell to earn 32 cents per share on $15.8 billion in revenue.
