Shares of Dell (DELL) are down $1.12, or 7%, at $13.96, after the company this afternoon reported fiscal Q1 revenue and earnings per share below analysts’ estimates, and forecast a Q2 revenue rise less than expected.
Revenue in the three months ended May 4th fell 10%, quarter over quarter, and 4%, year over year, to $14.4 billion, yielding EPS of 43 cents, excluding some costs.
Analysts had been modeling $14.91 billion and 46 cents EPS.
Revenue from the company’s large enterprise customers declined 3%, while public sector revenue was down 4% and small and medium business revenue was up 4%.
The biggest decline was from consumers, where revenue was down 12%.
Within product category, server and networking revenue was up 2%, while storage revenue for the products Dell owns (as opposed to resells), rose 24%, to $423 million.
Personal computer revenue in the desktop category fell 12%, while mobile PC revenue was down 13%.
Dell’s CEO Michael Dell remarked that the company saw “continued progress in our first quater with the innovative IT solutions we’re providing.”CFO Brian Gladden said the company had seen a “challenging environment” during Q1.