EMC reports US$5.31bn consolidated revenue for Q2

24 Jul 2012

Storage hardware solutions provider EMC Corporation has achieved its 10th consecutive quarter of year-over-year double-digit growth for consolidated revenue, net income and EPS.

EMC’s second-quarter consolidated revenue reached US$5.31bn, an increase of 10pc compared with the same period last year.

Net income rose 19pc year-over-year to US$650m, and earnings per weighted average diluted share increased 21pc year-over-year to $0.29.

Operating cash flow amounted to US$1.24bn and free cash flow of US$958m, a year-over-year increase of 16pc and 36pc, respectively.

The company ended the quarter with US$10.9bn in cash and investments.

“We are seeing a transformation in the IT industry unlike anything we have seen before,” said Joe Tucci, EMC chairman and CEO.

“Organisations are moving quickly to adopt cloud computing and take advantage of both the efficiency and agility that comes with running IT-as-a-Service.

“Customers are also looking to deploy a new generation of big data applications to gain competitive advantage and differentiate their businesses. And they demand that all this be done in a secure and trusted way. EMC is widely recognised as a leader and driver of this transformation.”

David Goulden, EMC president and COO, said the business EMC has built is at the intersection of three of the most transformative waves in the history of IT – cloud computing, big data and trust.

“We have grown EMC profitably, expanded our portfolio of products and services into new markets, and established our reputation for quality and providing customers with the very best total experience in the industry,” Goulden said.

“Looking ahead, we remain on track to deliver our ‘triple play’ – simultaneously taking market share, reinvesting for growth and delivering improved earnings – and are well positioned for our next major phase of growth.”

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