Market has been abuzz with founder of world's No. 3 PC maker making a buyout offer for its company, which recently showed a dismal performance in profit with a 31% drop in fourth quarter. It has been stated that Michael Dell has apparently offered $13.65 a share, after the earnings report, but some major investors have refused the deal, worth $24.4 billion.
It has been claimed that company's earnings dropped to 40 cents per share from 51 cents a share a year ago, while the revenue witnessed a decline by 11% to $14.31 billion from $16.03 billion.
It is believed that this turn around happened due to dithering consumer business which has witnessed a 24% drop during the quarter. Even revenue from its enterprise business saw a drop of 7% followed by a 5% drop in revenue from small and medium size businesses, and Public revenue went down by 9%.
As far as revenue from its global units is concerned, it witnessed a 14% drop in Europe, the Middle East and Africa, followed by 10% in Americas and 9% in Asia-Pacific and Japan.
With news about Dell going private making rounds, the company has not revealed an outlook for the fiscal 2014.
US Business News
New Zealand News
- After Suspected Botulism, CFIA Warns People
- Health Care Education Necessary for the Future of Province: Analysts
- B.C. Government Grants $700,000 for Managing Facial Deformities
- Michelle Shocked delivers hate speech about homosexuality at her gig
- Guess who Justin Bieber got burned by?!! His ex-girlfriend Selena Gomez