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Dell's Net Income Fell 31% as The Company Continued to Be Hurt by a Shrinking PC Market

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Core prompt: Dell's net income fell 31 per cent in the latest quarter as the company continued to be hurt by a shrinking PC market.

Dell's net income fell 31 per cent in the latest quarter as the company continued to be hurt by a shrinking PC market.

Dell Net Income Down 31 Pc

Dell's founder and CEO Michael Dell and a group of investors are buying the company for $US24.4 billion ($23.6bn) with a plan to turn it around.

Dell posted net income of $US530 million, or 30 cents per share, for its fiscal fourth quarter, which ended on February 1.

That was down from $US764 million, or 43 cents per share, in the quarter a year ago.

Excluding acquisition and severance-related charges, earnings were 40 cents per share, beating by 1 cent the average forecast of analysts polled by FactSet.

Revenue was $US14.3 billion, down 11 per cent from a year ago. It beat analyst expectations of $US14.1 billion.

 
 
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