
Dell on Thursday posted a disappointing drop in quarterly earnings, citing slow IT spending in Asia and Western Europe, and increased spending to drive growth. The company's surprising 17 percent decline in quarterly profit sent the world's second largest PC maker's shares down more than 10 percent. Dell reported fiscal second quarter revenue of $16.4 billion, up 11 percent year-over-year and driven by a 19 percent increase in worldwide product shipments, but its $0.33 EPS, before one-time costs, was short of investors' expectations of $0.36 per share. After its one-time costs and amortization, Dell's profit fell to $616 million in the second quarter (ended August 1) or 31 cents per diluted share, from the restated year-ago net income of $746 million, or 33 cents per diluted share.