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Dell's sales miss estimates on slumping PC demand Add to ...

Dell Inc. DELL-Q, the world's second-largest maker of personal computers, reported sales that missed analysts' estimates after shoppers put off buying new PCs. Cost cuts helped the company top profit projections. Sales dropped 23 per cent to $12.3-billion (U.S.) in the first quarter, the company said yesterday. Analysts had estimated revenue of $12.7-billion on average, according to a Bloomberg survey. Excluding some costs, profit was 24 cents a share, beating the 23 cents predicted by analysts. Chief executive officer Michael Dell is eliminating jobs and offloading some manufacturing to partners, a bid to cut $4-billion in costs by 2011. DELL (Nasdaq) added 36 cents to close at $11.48.

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