(MENAFN) Dell Inc. announced that its fourth-quarter earnings dropped by 31 percent to USD530 million, compared with USD764 million a year earlier, reported AP.
The Round Rock, Texas-based firm said that the decline resulted from sluggish demand for PCs, as people are turning to smartphones and tablet computers.
Meanwhile, revenue fell by 11 percent in the quarter, which ended February 1, reaching USD14.3 billion, exceeding analysts' forecasts of USD14.1 billion.
It is worth noting that recently, Dell announced plans to take its stock off Wall Street in a deal worth USD24.4 billion, and if it closes, the deal will bring an end to the company's 25-year history as a publicly traded firm.
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