Home Wealth  Money Tech News: Dell Posts Earnings, Apple Names Chairman, Puts Disney Chief on Board

Tech News: Dell Posts Earnings, Apple Names Chairman, Puts Disney Chief on Board

Posted: Nov. 17th, 2011  |  By Forbes

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Tech giant Dell posted fiscal third quarter earnings late yesterday.

Dell (nasdaq: DELL - news - people ) said profits rose to $893 million, or $0.49 per share, from $822 million, or $0.42 per share, in last year's third quarter. Adjusted earnings of $0.54 per share beat analyst expectations.

Revenue was flat, at $15.4 billion, and fell short of analyst estimates.

Dell said that given the uncertain macroeconomic environment and complexity in working through the industry-wide hard drive issue caused by disruptions due to the flooding in Thailand, it is now forecasting revenue at the lower end of its outlook for 1% to 5% growth for the fiscal year.

Also late yesterday, Apple (nasdaq: AAPL - news - people ) said its board has named Genentech (nyse: DNA - news - people ) chairman Arthur Levinson to serve as the company's non-executive chairman. Levinson has been a member of the board since 2000.

Walt Disney (nyse: DIS - news - people ) CEO Robert Iger will also join Apple's board, the company said, and will serve on its audit committee.

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