Dell doubles its profit in third quarter [Corrected]
Personal-computer maker Dell Inc. more than doubled its net income in its fiscal third quarter, and average consumers had little to do with the increase.
Instead, the public sector and business customers helped push profit to $822 million for the quarter ended Oct. 29, up from $337 million in the same period a year earlier.
Revenue soared 19% to $15.4 billion from $12.9 billion, with sales of desktop and laptop computers making up the majority.
Large companies replacing old technology spent $4.3 billion with Texas-based Dell, up 27% from a year earlier. Smaller businesses poured in 24% more than a year before -- $3.7 billion total.
Even the public sector pitched in $4.4 billion, a 20% increase. Dell strengthened its link to the healthcare industry by providing technology to institutions such as the Methodist Hospital in Houston.
The company’s fiscal year ends in January.
Dell's consumer business reported sales of $3 billion, up 4% from a year earlier.
-- Tiffany Hsu
CORRECTION: This post corrects sales figures from Dell's consumer business.
Photo: Douglas C. Pizac / Associated Press