BUSINESS

Dell Stock Plunges On Lower Profit

09/28/2008 05:12 am ET | Updated May 25, 2011

Computer maker Dell Inc. said Thursday that its fiscal second-quarter profit fell 17%, hurt in part by lower prices and restructuring charges. The earnings were short of Wall Street estimates, and Dell shares plunged.

Dell's net income dropped to $616 million, or 31 cents a share, in the quarter that ended Aug. 1, from $746 million, or 32 cents, a year earlier. Sales rose 11% to $16.4 billion, ahead of Wall Street's prediction for $15.9 billion.

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