EMC Goes Double-Digits in Revenue, Profit for 10th Straight Quarter

 
 
By Chris Preimesberger  |  Posted 2012-07-24 Email Print this article Print
 
 
 
 
 
 
 

The IT giant reported that its second-quarter consolidated revenue was $5.31 billion, an increase of 10 percent over the year-ago quarter. Net income attributable to EMC increased 19 percent year over year.

For the 10th consecutive quarter, data storage and security provider EMC reported double-digit year-over-year growth for revenue and net income in its second-quarter 2012 filing with the Securities and Exchange Commission.

As a result, EMC said it expects to fulfill its full-year 2012 goals for consolidated revenue, non-GAAP (generally accepted accounting principles) earnings per share and free cash flow.

The Hopkinton, Mass.-based IT giant reported that its second-quarter consolidated revenue was $5.31 billion, an increase of 10 percent over the year-ago quarter. Net income attributable to EMC increased 19 percent year over year to $650 million.

Earnings per share increased 21 percent year over year to $0.29. EMC is the parent company of a number of wholly-owned subsidiaries, including VMware, RSA Security, Documentum, Iomega, Data Domain, and several others.

Revenue from EMC's storage business increased 7 percent over Q2 2011. Within this, revenue from EMC's networked storage platforms, which includes EMC's high-end and mid-tier storage platform products, also grew 7 percent year over year.

Income from EMC's high-end Symmetrix storage product portfolio increased 3 percent over 2011, and revenue from the company's portfolio of mid-tier storage products4 increased 10 percent.

In guidance for Wall Street and other analysts, EMC projected its consolidated revenues to be a record $22 billion for 2012.

 
 
 
 
Chris Preimesberger Chris Preimesberger was named Editor-in-Chief of Features & Analysis at eWEEK in November 2011. Previously he served eWEEK as Senior Writer, covering a range of IT sectors that include data center systems, cloud computing, storage, virtualization, green IT, e-discovery and IT governance. His blog, Storage Station, is considered a go-to information source. Chris won a national Folio Award for magazine writing in November 2011 for a cover story on Salesforce.com and CEO-founder Marc Benioff, and he has served as a judge for the SIIA Codie Awards since 2005. In previous IT journalism, Chris was a founding editor of both IT Manager's Journal and DevX.com and was managing editor of Software Development magazine. His diverse resume also includes: sportswriter for the Los Angeles Daily News, covering NCAA and NBA basketball, television critic for the Palo Alto Times Tribune, and Sports Information Director at Stanford University. He has served as a correspondent for The Associated Press, covering Stanford and NCAA tournament basketball, since 1983. He has covered a number of major events, including the 1984 Democratic National Convention, a Presidential press conference at the White House in 1993, the Emmy Awards (three times), two Rose Bowls, the Fiesta Bowl, several NCAA men's and women's basketball tournaments, a Formula One Grand Prix auto race, a heavyweight boxing championship bout (Ali vs. Spinks, 1978), and the 1985 Super Bowl. A 1975 graduate of Pepperdine University in Malibu, Calif., Chris has won more than a dozen regional and national awards for his work. He and his wife, Rebecca, have four children and reside in Redwood City, Calif.Follow on Twitter: editingwhiz
 
 
 
 
 
 
 

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