Dell CEO says annual rev to surpass $60 bn

SAN FRANCISCO, USA: Dell Inc CEO Michael Dell said the company is on track to bring in more than $60 billion in revenue this year, as he showed off the computer maker's newest 7-inch tablet.

Speaking at the Oracle OpenWorld conference in San Francisco on Wednesday, Dell said the company's revenue has grown about 20 percent over the past two quarters, and "it looks like we'll probably do that again this quarter as well."

Analysts expect Dell to report revenue of $15.8 billion in the fiscal third quarter, which ends in October, according to Thomson Reuters. That would be 22 percent higher than a year ago.

Wall Street expects Dell to post revenue of $62.4 billion for the current fiscal year, which ends in January.

Dell said the company's new 5-inch Streak tablet will be available at Best Buy stores next month. The device is currently available through Dell's online store. He also showed off a new 7-inch tablet, but provided no other details. The device appears to run on Google's Android software.

Dell executives have said the company planned to launch tablets in larger screen sizes.

Dell launched the touchscreen Streak last month. It runs on Android and doubles as a smartphone. The Streak costs $549.99, or $299.99 with a two-year contract from AT&T.

Dell is the world's No. 2 PC maker, according to industry tracker IDC, but has been expanding its product portfolio, with an emphasis on mobile devices. Apple's iPad has set the standard for tablet computers.

A slew of tablets has hit the market or is expected to in the coming months, including offerings from Samsung, Hewlett-Packard and Toshiba.

BMO Capital Markets expects tablet sales to top 40 million units in 2011 and hurt notebook and netbook sales.

Dell's shares fell 2.6 percent to $12.28 in midday Nasdaq trading, on a day that the broader Nasdaq composite index fell nearly 1 percent