EMC Transforms Data Into Big Bucks |
| TheStreet.com - Jul 20, 2011 |
Proving that data equals dollars, storage giant EMC(EMC_) posted record second-quarter results before market open Wednesday. The company also raised 2011 guidance, due to positive notes associated with its VMware(VMW_) virtualization subsidiary.
EMC racked up revenue of $4.85 billion, up from $4.02 billion in the same period last year, and a shade above analysts' estimate of $4.85 billion.
Excluding items, EMC earned 35 cents a share, compared to 28 cents a share in the prior year's quarter. Analysts had forecast earnings of 35 cents a share.
Investors welcomed the numbers and raised outlook, pushing EMC's shares up 54 cents, or 1.97%, to $27.92.
"Revenue growth improved from Q1 across all of our reported segments," said David Goulden, the EMC CFO, during a conference call before market open. "These results are further evidence that our strategy is on target."
Read Full Article from TheStreet.com
- Posted: 2011-07-20 13:48:56
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