EMC Corp. (EMC) Prelim. Q3 Revenue, EPS Misses Estimates

EMC Corp. (NYSE: EMC) announced preliminary third-quarter 2015 results: consolidated revenue is expected to be between $6.05 and $6.08 billion. GAAP earnings per weighted average diluted share is expected to be approximately $0.25. Non-GAAP earnings per weighted average diluted share is expected to be approximately $0.431.

*** The Street sees revenue of $6.25 billion and EPS of $0.45.

Zane Rowe, EMC Corporation CFO, said, "During Q3, thanks to the hard work of the team, we continued to generate positive momentum in our IT transformation-focused businesses such as Pivotal, VMware and our emerging storage portfolio. We also experienced a higher than expected build in unshipped storage product orders of approximately $100 million due to the timing of bookings in the third quarter; this impacted GAAP and non-GAAP EPS by approximately $0.02."

In addition, Dell Inc. and EMC Corporation today announced they have signed a definitive agreement under which Dell, together with its owners, Michael S. Dell, founder, chairman and chief executive officer of Dell, MSD Partners and Silver Lake, the global leader in technology investing, will acquire EMC Corporation, while maintaining VMware as a publicly-traded company.

A live webcast for investors will be held this morning at 7:45 a.m. ET to review today's news. Visit the EMC Investor Relations website (http://www.emc.com/ir) for the archived conference call recording.

EMC will discuss further details about third-quarter 2015 results during its previously scheduled earnings call at 8:30 a.m. ET on Wednesday, October 21.

Given this morning's announcement regarding EMC's entry into a definitive merger agreement, the company will no longer be providing outlook for its 2015 financial results.

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