Dell profit sinks 23 percent in slumping PC market but edges past Wall Street estimates

Dell profit down 23 pct but just beats estimate

SAN FRANCISCO — Dell Inc. says its second-quarter profit fell 23 percent as the personal-computer industry’s slump dragged on this summer.

The results were slightly better than Wall Street expected. The figures were released early, right before the market closed, and Dell stock jumped 5 percent.

Dell’s profit was $472 million, or 24 cents per share, in the three months ended July 31. That compares with profit of $616 million, or 31 cents per share, in the year-ago period.

Sales fell 22 percent to $12.8 billion.

Analysts expected profit of 23 cents per share on $12.6 billion in sales.