Dell Technologies, the company behind the laptops, displays and other electronic devices that make up the computer business of Dell, said Thursday it expects its third-quarter earnings to disappoint.
The stock was down about 2.1% to $16.50.
Shares in the company, which is based in San Jose, fell 3.7% Thursday.
The company posted a disappointing third-month revenue decline of $2.7 billion to $11.8 billion, according to the company’s fourth-quarter financial statement.
The result came as Dell shares rose by nearly $1.50 to $29.99.
It said the decline was due to a decline in the use of the Dell XPS 13, which has fallen in price by as much as 60%.
The company said it expects a higher than expected third-party tax rate to be applied in the year ahead.