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Dell reveals results down 48%
But shares strong on cost cutting promises
27 February 2009 10:51 GMT / By Amy-Mae Elliott
Dell has announced its financial results for the fourth quarter and it seems consumers choosing cheaper computers - such as netbooks - has hurt the PC giant's profits.
Dell's net income dropped by nearly half, to $351 million for the quarter ended 31 January 2009, compared to $679 million for the same time frame last year.
However, proven cost cutting plans - and the news that the company is raising its cost cutting measures in 2009 to the tune of $4 billion, meant that analysts and investors received the news favourably.
In addition, chief executive Michael Dell said technology spending is "being deferred until there's better economic visibility".
Dell's shares rose 2.3% in after-hours trading after the results were revealed.
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