EMC (EMC) Shows Strong Q2 Growth, Beats Expectations; Outlook Improves
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EMC (NYSE: EMC) shares are rolling higher following strong second-quarter earnings results on strong worldwide customer demand for EMC's information infrastructure and virtual infrastructure products and services.
Revenue increased 20 percent to $4.845 billion, from $4.024 billion in the same period last year. The Street was looking for lighter revs of $4.73 billion.
Net income in the quarter rose from $426.22 million to $546.49 million, or 24 cents per diluted share. Excluding items related to stock options, special charges, and other items, and earnings were a more robust 35 center per share, ahead of the 34 cents expected by the Street.
Margins increased from 20.7 percent to 23.1 percent.
Information Storage business reported a 19 percent increase in revs, while VMware (NYSE: VMW) reported a 37 percent increase in revs (details of that can be accessed here).
Looking ahead, EMC sees fiscal 2011 revs above $19.8 billion, stronger than the $19.84 billion sought on the Street. Additionally, adjusted net earnings should be above 1.48 per share, compared with $1.49 expected on the Street.
Shares of EMC are trading over 2 percent better early Wednesday.
Revenue increased 20 percent to $4.845 billion, from $4.024 billion in the same period last year. The Street was looking for lighter revs of $4.73 billion.
Net income in the quarter rose from $426.22 million to $546.49 million, or 24 cents per diluted share. Excluding items related to stock options, special charges, and other items, and earnings were a more robust 35 center per share, ahead of the 34 cents expected by the Street.
Margins increased from 20.7 percent to 23.1 percent.
Information Storage business reported a 19 percent increase in revs, while VMware (NYSE: VMW) reported a 37 percent increase in revs (details of that can be accessed here).
Looking ahead, EMC sees fiscal 2011 revs above $19.8 billion, stronger than the $19.84 billion sought on the Street. Additionally, adjusted net earnings should be above 1.48 per share, compared with $1.49 expected on the Street.
Shares of EMC are trading over 2 percent better early Wednesday.
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