Dell's Profits Plummet by 18% as PC Sales Slump

Wednesday Aug 22nd 2012 by Staff

The company slashed its earnings outlook for the third quarter.

The Guardian: For its second fiscal quarter, Dell report that net income fell 18.5 percent and revenue was down 7.5 percent. The company also warned that its third quarter results would be worse than previously expected, down 2 to 5 percent.

Much of the blame for the poor quarter fell on the company's sluggish PC sales. In fact, consumer PC revenue was the lowest in five years--$2.6 billion. In addition, Dell's Global Large Enterprise division experienced a 1 percent drop in revenue and a 3 percent decrease in income.

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