Dell meets 1Q forecasts

Personal computer powerhouse Dell Computer Corp. Tuesday reported a 42% increase in its fiscal first-quarter earnings, in line with Wall Street estimates, as sales over the Internet represented 30 percent of its overall revenue. For the quarter ended April 30, Dell logged a profit of $434 million, or 16 cents per share according to First Call. Revenue climbed 41 percent to $5.5 billion. Dell shares rose on the Nasdaq stock market prior to the announcement. Its shares quickly tumbled in after-hours trading, falling to 41-1/8 on the Instinet trading system after the earnings report.