Dell's shares closed lower on the technology-heavy Nasdaq in trading yesterday (November 15th) and today it has been revealed the company's profits slumped by 47 per cent on weaker sales.
The computer maker has seen its quarterly profits slide by 47 per cent due to lower corporate and household demand, as the global economic downturn cuts hardware budgets for both companies and families.
Dell made a net profit of $457 million (£300 million) in the third quarter, compared with the $893 million logged a year earlier.
The company's consumer revenues fell by nearly one quarter to $2.5 billion, while those from sales to big businesses decreased by eight per cent to $4.2 billion.
Commenting on the state of the firm's financially-restricted customer base, chief financial officer of Dell Brian Gladden said: "It's not clear what's going to cause them to increase their spending in the short term, given the uncertainty in the economy."
At close of play on Wall Street last night, Dell lost 0.2 per cent to $9.56 per share.
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