PC and netbook maker Dell has posted a steep decline in third quarter profits.
For the three months ending October, Dell posted a net profit drop of 46 per cent; down to $337 million from $727 million posted in the same period last year.
Dell’s revenues also fell, down 15 per cent to $12.9 billion.
Shares tumbled quickly as Dell was not able to satisfy analyst expectations.
Dell’s share price peaked at $16.10 on Thursday, closing at 16.08. On Friday it slumped to a low of $15.66, and stands at $15.86 at the time of going to press.
Dell indicated that fourth-quarter profits will perform better, though offered no formal guidance.