EMC Earnings: Achieves Record Quarterly Revenue
EMC Corporation (NYSE:EMC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 4.96%.
EMC Corporation Earnings Cheat Sheet
Results: Net income increased 44.22% to $1.2 billion (54 cents per diluted share) in the quarter versus a net gain of $832.05 million in the year-earlier quarter.
Revenue: Rose 7.63% to $6 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: EMC Corporation reported adjusted net income of 54 cents per share. By that measure, the company beat the mean analyst estimate of $0.52. It beat the average revenue estimate of $5.98 billion.
Quoting Management: Joe Tucci, EMC Chairman and Chief Executive Officer, said, “EMC achieved its first $6 billion quarter for revenue, capping off a record breaking 2012. Driving our strong results is the strength of our leading-edge products and services, our solid operational and financial model, and consistent execution against our strategy…