Menu
EMC posts broad Q3 revenue gain

EMC posts broad Q3 revenue gain

EMC reported double-digit revenue growth for the third quarter and forecast another revenue gain in the fourth quarter despite global economic woes.

EMC reported double-digit revenue growth for the third quarter on Wednesday and forecast another revenue gain in the fourth quarter despite global economic woes.

The company's revenue grew 13 percent from last year's third quarter to US$3.7 billion, with 11 percent gains in both its information storage business and its RSA security division.

Net income according to GAAP (Generally Accepted Accounting Principles) was US$411 million, or US$0.20 per share, down from US$492 million, or US$0.23 per share, a year earlier. But not counting a special income-tax benefit and other one-time items, EMC had net income of US$528 million, or US$0.25 per share, up 14 percent from last year's third quarter.

The non-GAAP profit figure beat analysts' estimates of US$0.19 per share, while revenue essentially matched the analysts' forecasts.

Sales gains in the U.S. lagged behind the rest of the world, with revenue growing 7 percent year-over-year in the U.S. compared with 19 percent for areas outside. The company got 46 percent of its revenue from outside the U.S. Revenue increased 20 percent in Europe, the Middle East and Africa, 19 percent in Asia-Pacific and Japan, and 27 percent in Latin America, EMC said.

For the fourth quarter, EMC forecast total revenue of US$4 billion and earnings per share between US$0.23 and US$0.24, both of which would represent gains over last year's fourth quarter. The company estimated non-GAAP earnings at US$0.30 or US$0.31.

"Even with a challenging economic environment ahead, we remain confident and well positioned to compete effectively, continue winning business and outpace our peers in the marketplace," EMC Chairman, President and CEO Joe Tucci said in a prepared statement.


Follow Us

Join the newsletter!

Error: Please check your email address.

Tags emc

Featured

Slideshows

Looking back at the top 15 M&A deals in NZ during 2017

Looking back at the top 15 M&A deals in NZ during 2017

In 2017, merger and acquisitions fever reached new heights in New Zealand, with a host of big name deals dominating the headlines. Reseller News recaps the most important transactions of the Kiwi channel during the past 12 months.

Looking back at the top 15 M&A deals in NZ during 2017
Kiwi channel closes 2017 with After Hours

Kiwi channel closes 2017 with After Hours

The channel in New Zealand came together to celebrate the close of 2017, as the final After Hours played out in front of a bumper Auckland crowd.

Kiwi channel closes 2017 with After Hours
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP honoured leading partners across the channel at the Partner Awards 2017 in New Zealand, recognising excellence across the entire print and personal systems portfolio.

Meet the top performing HP partners in NZ
Show Comments