EMC Corp. (EMC) Reports Preliminary Q2 EPS of 39c, Misses by 1c; VMware's (VMW) CEO Maritz to Assume Chief Strategist Role

July 17, 2012 4:07 PM EDT
EMC Corporation (NYSE: EMC) today announced preliminary second-quarter 2012 results: record Q2 consolidated revenues of approximately $5.31 billion, up 10% over Q2 2011, and record Q2 non-GAAP earnings per weighted average diluted share (EPS) of $0.39, up 11% over Q2 2011.

The Street was looking for revs of $5.29 billion and EPS of $0.40.

EMC continues to expect to achieve its full-year 2012 goals of $22 billion in revenue and non-GAAP EPS of $1.70.

The Street sees FY12 revs of $22.1 billion and EPS of $1.73.

EMC will discuss further details about Q2 2012 results and full-year business outlook during its previously scheduled earnings call at 8:30 a.m. ET on Tuesday, July 24.

EMC today also announced a series of senior executive appointments to further position the company for its next phase of growth. The appointments highlight the depth and breadth of EMC's executive management team and mark the next step in the implementation of the company's long-standing executive succession plan.

Key among the executive appointments to drive future growth, EMC announced that:
  • David Goulden, Executive Vice President and CFO, has been appointed President and COO of EMC Corporation, reporting to Tucci.

  • Pat Gelsinger, EMC President and COO of Information Infrastructure Products, has been appointed CEO of VMware (NYSE: VMW), effective September 1st, and will also join the VMware Board of Directors.

  • Paul Maritz, VMware's (YSE: VMW) present CEO, is joining EMC as Chief Strategist, reporting to Tucci, effective September 1st. Maritz will remain on the VMware Board of Directors.

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