Profits fall reported by Dell

<p>Dell has reported a drop in its profits.</p>

PC manufacturer Dell has reported a fall in its profits for the second quarter of the year.

It was announced by the firm that it made $204 million (£130 million) during this period, which was a 72 per cent drop on the previous three months.

"In a challenging environment, we remain committed to our strategy and our customers," said Brian Gladden, Dell chief financial officer, after the firm brought the results forward. They were expected to be released early next week.

Declining global PC sales were singled out by the company as one of the main reasons why its profits have dipped so badly in the last few months.

Dell has also lost ground on rivals such as Lenovo, which confirmed this week in its latest financial results that it has become the largest PC maker in the world for the first time.

The share price of Dell is set to open the day's trading on the Nasdaq at 13.70 later today (August 16th).

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.