Dell 4Q net income more than doubles, shares soar

Personal computer maker Dell Inc. said Tuesday its net income more than doubled in the most recent quarter to handily beat expectations, as businesses spent more on computers, servers and other technology.

Dell also issued annual revenue guidance for the current fiscal year that beat Wall Street's forecast. The results sent Dell's shares soaring in extended trading after the report was released.

Companies that clamped down on spending during the economic downturn continued to upgrade technology in the quarter. Dell's business is more heavily weighted toward corporate customers than its competitors, so this resurgence in spending is giving it a relatively big boost.

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- Posted: 2011-02-15 21:19:53

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