By Tiffany Williams –
Dell lit up Wall Street Tuesday night, even while tripping on quarterly revenue. The tech giant whiffed on fiscal Q3 sales, but investors didn’t care—AI saved the day. Shares jumped 5% after hours as Dell laid out a fourth-quarter forecast far hotter than analysts saw coming. The company is calling for about $31.5 billion in sales next quarter, miles above the $27.59 billion estimate, and says earnings per share should hit $3.50 instead of the $3.21 analysts expected.
Dell also cranked up its AI ambitions, hiking expected AI server shipments for the year to $25 billion from $20 billion and boosting its full-year revenue outlook to $111.7 billion from $107 billion. The company reported $1.54 billion in net income, or $2.28 per diluted share, for the quarter—well above last year’s $1.17 billion, or $1.64.
Over at General Motors, the executive exits keep piling up. A third high-profile tech leader is now out the door as GM shakes up its software and product ranks. Baris Cetinok, senior vice president of software and services product management, will be gone Dec. 12, the company confirmed after notifying employees internally.
Abercrombie & Fitch pulled off a retail rocket ride Tuesday, with shares exploding 37% after the company showed it can still grow even as its namesake brand cools off. Abercrombie sales fell 2% in the fiscal third quarter, but Hollister once again dragged the company forward, jumping 16%. CEO Fran Horowitz said sales at Abercrombie are expected to be flat this quarter—meaning Hollister is teeing up to drive the holiday season. Companywide sales rose 7%, topping expectations.
Meanwhile, Dick’s Sporting Goods is sharpening the ax. With its Foot Locker acquisition officially closed, Dick’s said it plans to shut down a wave of Foot Locker stores as part of a sweeping restructuring designed to keep the sneaker chain from weighing down profits by fiscal 2026. The company didn’t say how many locations are getting the boot—but the message was loud and clear.