EMC Earnings: Here’s Why the Stock is Down Now
EMC Corporation (NYSE:EMC) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.35%.
EMC Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 5.41% to $0.39 in the quarter versus EPS of $0.37 in the year-earlier quarter.
Revenue: Rose 5.74% to $5.39 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: EMC Corporation reported adjusted EPS income of $0.39 per share. By that measure, the company missed the mean analyst estimate of $0.40. It missed the average revenue estimate of $5.42 billion.
Quoting Management: Joe Tucci, EMC Chairman and Chief Executive Officer, said, “EMC’s solid first-quarter financial results speak to the strength of our execution and the soundness of our strategy that offers customers greater efficiency, control, choice and agility. Our three federated businesses – EMC Information Infrastructure, VMware and Pivotal – are squarely focused on areas of IT that are expected to experience high growth over the next decade: cloud computing, Big Data and trusted IT. Each business is chartered to build its own technology and partner ecosystem necessary to succeed, while staying aligned to leverage one another’s strengths and to create value for our customers and shareholders. I am incredibly energized by the strength of our business model and the way we have positioned the company to lead this transformative era in information technology.”
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