Dell restates profits after probe

Computer company Dell has said it will restate four year’s worth of accounts because figures were tweaked so that the firm could meet earnings targets.

Dell said that the changes would cut about $150m (£75m) from its net profit, less than many analysts had predicted.

An audit found that “certain adjustments appear to have been motivated by the objective of attaining financial targets”, Dell explained.

The changes would not have a “material” impact on current earnings, it added.

Dell’s shares added 3% in after hours electronic trading in New York, signalling that they will rise when trading starts later on Friday.

The company is in the process of cutting 7,000 jobs, or about 10% of its global workforce, as it looks to offset falling sales and rising costs.

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