EMC reports higher net income for Q4, provides outlook for 2013
Jan 31, 2013 (Datamonitor via COMTEX) --
EMC Corporation, a provider of cloud computing services, has reported that net income attributable to the company for the fourth quarter ended December 31, 2012 was $869.92 million, or $0.39 per diluted share, compared to $832.05 million, or $0.38 per diluted share, for the same quarter ended December 31, 2011. For 2013, EMC expects consolidated GAAP net income attributable to the company to be $3.0.
Revenues for the fourth quarter ended December 31, 2012 were $6.03 billion, compared to $5.57 billion for the same quarter ended December 31, 2011.
Net income attributable to the company for the year ended December 31, 2012 was $2.73 billion, or $1.23 per diluted share, compared to $2.46 billion, or $1.1 per diluted share, for the year ended December 31, 2011.
Revenues for the year ended December 31, 2012 were $21.71 billion, compared to $20.01 billion for the year ended December 31, 2011.
Consolidated GAAP earnings per weighted average diluted share are expected to be $1.35 for 2013. For 2013, the company expects consolidated revenues to be $23.5 billion.
Joe Tucci, EMC Chairman and CEO, said, "EMC achieved its first $6 billion quarter for revenue, capping off a record breaking 2012. Driving our strong results is the strength of our leading-edge products and services, our solid operational and financial model, and consistent execution against our strategy.
"EMC remains squarely at the center of the most disruptive and opportunity-rich shift in IT history, propelled by the benefits of cloud computing, Big Data and trusted IT. These high-priority IT spending areas are core to our strategic focus and represent market segments where EMC has established leadership positions and competitive advantage."
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