EMC Inches Forward Revenue
Storage specialist EMC Corp. posted 2Q revenue of $1.39 billion, a slight improvement from last quarter's revenue of $1.3 billion.For the second financial quarter, storage specialist EMC Corp. inched forward its revenue to $1.39 billion, with $.01 per share loss, compared with last quarters $1.3 billion and $.04 per share loss, officials said Thursday. Net income for the second quarter last year was $2.02 billion, though EMC spent $200 million in this years second quarter to buy back stock. "Most large corporations continue to delay major IT projects, generally limiting their purchases to deployments that provide a rapid return on their investment," President and CEO Joe Tucci said in a statement, squarely placing the blame on the economy.
Software revenue grew 14 percent from last quarter, which company officials said was a sign that customers were embracing EMCs AutoIS software initiative.