The ongoing slump in PC sales is taking its toll
on Dell. The Texas-based computer maker reported a 79-per-cent plunge
in first-quarter profits Thursday, earning 130 million dollars,
compared to the 635 million dollars a year earlier.
Dell said that sales dipped just 2 per cent to 14.1 billion, but the company had to spend a lot to acquire many of those sales in the enterprise solutions sector to compensate for lower consumer sales which dropped by 9 per cent to 8.9 billion dollars.
The downbeat results came amidst a fierce buyout battle for the company, which earlier this year agreed to be taken private by founder Michael Dell and a consortium of private equity companies. That 24.4-billion-dollar deal is being challenged by activist shareholder Carl Icahn and allies.
Most Popular Stories
- U.S. Families 'Extraordinarily Vulnerable': Yellen
- Hillary Clinton to Address CHCI Conference
- Larry Ellison Steps Down as Oracle CEO
- Alibaba Prices IPO at $68 a Share
- Veterans to Get Training as Solar Panel Installers
- Apple Locks Itself Out of Devices
- Hispanics Doubt Marco Rubio's Chances
- Wildfires Rage in California
- John Cantlie Delivers ISIS Message to Save Life
- Alibaba: Today China, Tomorrow the World