Dell Inc.'s (Nasdaq: DELL) second quarter profits rose 29 percent thanks to strong server sales and a pickup in its overseas business, the company reported today.
Compared to the more disappointing figures reported by Hewlett-Packard Co. (NYSE: HPQ), Dell's numbers encouraged investors and its shares rose $0.95 (2.87%) to $34.07 in after hours trading. Meanwhile, HP's shares reached a 15-month low of $16.95 (see HP Storage Slammed).
The company reported a profit of $799 million, 31 cents a share, on revenues of $11.7 billion for its second quarter of fiscal 2005. That result, which was in line with Wall Street's expectations, compares favorably to the $621 million in profits, 59 cents a share, on revenues of $9.8 billion that it reported a year ago.
Dell's sequential numbers improved as well. In its first fiscal quarter, Dell recorded a $731 million profit, 28 cents a share, on revenues of $11.5 billion.
"We feel fairly bullish about our business," with double-digit revenue growth in all categories and markets, CEO Kevin Rollins said. "In the U.S., as I've said now for three quarters, steadily the market continues to improve. I think what this points out is that the market should not value every technology, should not value every sector, should not value every company the same way."
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