Dell shares hit as revenue forecast misses estimates

Dell tumbled the most in more than three years after the company forecast fiscal second-quarter revenue that missed analysts’ estimates.

Revenue for the period ending in July will be $14.7bn to $15 billion (€11.7bn to €11.9bn), Round Rock, Texas-based Dell said in a statement, compared with the average $15.4bn (€12.2bn) analyst estimate compiled by Bloomberg.

The forecast, paired with a first-quarter sales and earnings miss, pointed to problems endemic to Dell, Steve Felice, Dell’s president, said in a conference call. The sales team focused on individual products instead of packages of hardware and software, he said. A reorganisation is under way aimed at lining up staff that can sell a complement of Dell products, instead of specialising in individual ones.