Reuters: Technology News: Dell's quarterly profit plummets as PC sales shrink

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Dell's quarterly profit plummets as PC sales shrink Aug 15th 2013, 20:31 Tweet Share this Email Print Related News Dell posts flat but better-than-expected Q2 revenue 4:10pm EDT UPDATE 2-Estee Lauder profit surges as skin care, makeup sales rise 1:25pm EDT Kohl's profit forecast misses Wall Street estimates 7:41am EDT Hong Kong shares test 11-week high as Li & Fung surges, China flat 12:43am EDT CORRECTED-UPDATE 4-Cisco cutting 4,000 jobs, CEO sees slow progress Wed, Aug 14 2013 Analysis & Opinion Bill Ackman's plate-spinning act gets dangerous Plummeting BlackBerry would stain any buyout A company logo of Dell is seen on the cover of its laptop at a Dell outlet in Hong Kong October October 21, 2009. Credit: Reuters/Bobby Yip SAN FRANCISCO | Thu Aug 15, 2013 4:31pm EDT SAN FRANCISCO (Reuters) - Dell Inc, the PC maker embroiled in a takeover battle between its founding CEO and activist investor Carl Icahn, on Thursday reported a 72 percent slide in quarterly earnings as PC sales extended their downward spiral. Dell once led the world in computer sales and was held up as a model of production-chain innovation, but in recent years has become one of the more prominent victims of PC market erosion from mobile devices. Sales from its end-user computing division, which incorporates computers, slid 5 percent to $9.1 billion. The world's No. 3 PC maker reported sales of $14.5 billion in the fiscal second quarter, flat from a year earlier but surpassing the $14.2 billion analysts on average had expected. It posted net income of $204 million or 12 cents a share in the fiscal second quarter, compared to $732 million or 42 cents a share in the year-earlier period. Excluding items, it earned 25 cents a share, barely edging past a 24-cent average forecast, according to Thomson Reuters I/B/E/S. Shares of the company climbed 4 cents to $13.74 in after hours trade. (Reporting by Edwin Chan; Editing by Bernard Orr) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (1) Go senile old fart go. Carl should retire before he loses billions on his latest ventures – Dell and AAPL – both share will continue to fall into 2014. Aug 15, 2013 4:36pm EDT  --  Report as abuse See All Comments » Add Your Comment

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