Dell shares lower after quarterly profits drop

US computer maker Dell has reported another decline in quarterly profits, sending its shares lower.

Net profit at the US giant was $337m (£202m) in the three months to October, down from $727m last year.

Dell's revenues also dropped 15% to $12.9bn. Both figures missed analysts' expectations, sending shares down 7% in after-hours trading.

Although Dell did not provide a formal outlook, it said it expects fourth-quarter revenue to improve.

Global computer sales have been knocked by the worldwide recession, as customers cut back on their spending.

Since returning as chief executive in 2007, founder Michael Dell has cut more than 10,000 jobs and acquired several companies.

Dell bought IT services provider and fellow Texan firm Perot Systems for $3.9bn in September.

Original article : here