EMC profit and revenue begin to bounce back

Dave Bailey, Computing, Friday 23 October 2009 at 16:13:00

Figures are up on previous quarter, but still down on 2008

Storage vendor EMC has reported third quarter results showing revenue up
eight per cent from the last quarter at $3.52bn (�2.2bn), but down five per cent
year on year.

Although revenue results exceeded the previous outlook of four to five per
cent revenue growth, profits were down 24 per cent year-on-year to $298m
(�182m), but up 45 per cent on the previous quarter.

EMC chief executive Joe Tucci said: "EMC is well positioned to capitalise on
four of the higher-growth, multi-billion-dollar market opportunities around
fully virtualised datacentres, cloud computing, virtualised desktops and
clients, as well as next-generation backup and recovery."

EMC's financial predictions for next year see revenue of $4bn (�2.5bn), and
cost savings of $500m (�306m) compared with 2008.

Full story at http://www.computing.co.uk/computing/news/2251910/emc-third-quarter-profit