EMC reports 5pc increase in Q3 revenue to US$5.5bn

22 Oct 2013

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Third-quarter consolidated revenue increased by 5pc to US$5.5bn at cloud and storage giant EMC, compared to the year-ago-quarter.

The company also reported net income of US$586m and earnings per share of US$0.27.

During the quarter, operating cash flow rose 25pc year over year, generating US$4.7bn year to date. Free cash flow grew 26pc year over year, generating US$3.7bn year to date.

EMC ended the third quarter with US$17.5bn in cash and investments.

Joe Tucci, EMC chairman and CEO, in commenting on the company’s third-quarter financial results, said the EMC federation across EMC Information Infrastructure, VMware and Pivotal continues to be well positioned in its target markets and well received by customers and partners.

“We leveraged the unique power of our business model in the quarter to expand our technology portfolio, strengthen our partner ecosystem and extend our leadership in cloud computing, big data and trusted IT,” Tucci said.

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Tina held senior editorial positions at daily newspapers in Ottawa and Toronto

editorial@siliconrepublic.com