Dell and HP reported quarterly revenue that beat Wall Street estimates on Thursday, as customers continued to shop for personal computers, even as pandemic-led restrictions eased in many parts of the world.
However, shares of Dell fell 1 percent, while those of HP dropped as much as 6 percent, after both companies warned the ongoing computer chip shortage could impact their ability to meet demand for laptops this year.
“The component supply situation remains constrained,” Dell Chief Financial Officer Thomas Sweet said in post earnings call, adding that rising costs to procure these chips would hit its operating income in the current quarter by the low to mid-single digits and lead to slightly lower revenue on a sequential basis.
Ref: https://gadgets.ndtv.com/laptops/news/dell-hp-quarterly-revenue-earnings-chip-shortage-pc-supply-laptop-demand-coronavirus-covid-19-2450917 on 1st June 2021
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