NEW YORK ( TheStreet) -- Dell (DELL - Get Report) was the star in after-hours action on Tuesday after the PC giant soundly beat Wall Street's profit expectations despite a negligible miss on the top line.
The company posted a non-GAAP profit of $1.02 billion, or 53 cents a share, for the three months ended Jan. 28 on revenue of $15.69 billion. The performance was much better than a year-ago equivalent profit of $544 million, or 28 cents a share. The current average estimate of analysts polled by
Thomson Reuters was for earnings of 37 cents a share in the January quarter on revenue of $15.72 billion.
The stock was last quoted at $14.71, up. 5.8%, on volume of 10.3 million, according to Nasdaq.com. Dell shares were flat for the past year heading into Tuesday's session, and they dipped 1.3% prior to the report. Since hitting a 52-week high of $17.52 in late August, the stock had declined 20% before Tuesday's surge in extended trades.
In the company's conference call following the report, Dell executives reiterated that they are committed to staying a public company in the future, squelching rumblings that the company could be a target for private equity.