EMC’s third-quarter revenues jump 6pc to US$5.28bn

25 Oct 2012

Storage hardware solutions provider EMC has seen third-quarter consolidated revenue increase by 6pc to US$5.28bn compared with the year-ago period.

Quarterly net income rose 3pc year-over-year to US$626m and  earnings per weighted average diluted share increased 4pc year-over-year to US$0.28. 

The company generated operating cash flow of US$1.44bn during the quarter, and free cash flow of US$1.14bn, marking a year-over-year increase of 12pc and 16pc, respectively. 

Additionally, EMC ended the quarter with US$10.6bn in cash and investments.

Revenue from EMC’s business operations outside of the United States increased 4pc year-over-year to US$2.4bn and represented 45pc of consolidated third-quarter revenue. 

EMC in Ireland

Jason Ward, EMC’s country manager for Ireland, said the Irish market continues to perform strongly for EMC.

“We are experiencing strong demand across all business lines, helping our customers to transform their businesses with IT solutions that drive efficiencies and productivity gains, generate value from the information they hold, and secure their IT environments with sophisticated defence technologies,” Ward said.

Joe Tucci, EMC chairman and chief executive officer, said EMC’s third-quarter revenue and profit growth reflect the resiliency of its business in a more uncertain global economic environment. 

“We remain very well positioned to capitalise on – and drive – the transformative trends of cloud computing, big data and trusted IT. These major waves of change in IT become increasingly more important to customers and partners as they navigate through a cyclical slowdown, look to gain maximum value from their investments, and focus on their longer-term IT and business transformations,” Tucci said.

David Goulden, EMC president and COO, added that for the third quarter, EMC’s business continued to grow faster than overall IT spending growth and it gained market share in what turned out to be a more cautionary environment than it expected heading into the quarter.

Tina Costanza was a journalist and sub-editor at Silicon Republic