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Dell cuts sales growth forecast on weak US demand

Dell has cut its forecast for sales growth this year, blaming a "more uncertain demand environment".

The US personal computer maker said it now only expected revenues to rise 1%-5%, down from 5%-9% previously.

Meanwhile the firm posted net income for the second quarter of $890m, with underlying profits rising a faster-than-expected 69%.

Revenue was 1% higher, lifted by stronger spending by companies and the US government.

The increased profits were due in part to Dell's expansion into higher margin businesses, like servers, data storage and computer services.

However, Dell is expected to come under pressure during the rest of the year, as governments, companies and consumers are all expected to moderate their spending.

Shares in Dell dropped about 6% in after-hours trading on the weaker sales outlook, after the results were released following the closing bell on Wall Street.

BBC News

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