Dell Inc reported steep declines in quarterly sales and profit, sending its shares down more than 3 percent on Thursday.

Excluding one-time items, Dell's profit was 29 cents a share, above the 28 cent average estimate by analysts surveyed by Reuters Estimates.

Revenue fell 16 percent to $13.4 billion, missing analysts' average forecast of $14.06 billion.

Shares of Round Rock, Texas-based Dell fell to $7.90 in extended trading from their Nasdaq close of $8.21. The stock has fallen around 65 percent over the past six months.

(Reporting by Gabriel Madway; editing by Richard Chang)