EMC Profit Rises 74% on Sales Growth, VMware Earnings |
| Bloomberg - Oct 25, 2007 |
EMC Corp., the world's largest maker of storage computers and software, said third-quarter profit rose 74 percent after sales beat analysts' estimates and earnings jumped at its VMware Inc. unit.
Net income increased to $492.9 million, or 23 cents a share, from $283.7 million, or 13 cents, a year earlier, the Hopkinton, Massachusetts-based company said today in a statement. Sales climbed 17 percent to $3.3 billion, beating the $3.19 billion average estimate of analysts in a Bloomberg survey.
Chief Executive Officer Joseph Tucci drove sales with new products that help companies preserve, retrieve and encrypt e- mail and other records. EMC also benefited from growth at VMware, the software company whose profit more than tripled in the quarter. EMC owns 86 percent of VMware, which raised $1.1 billion in an August initial public offering.
Read Full Article from Bloomberg
- Posted: 2007-10-25 09:44:49
| More Stock Investor Place Financial News |
 |
|
|
|
| Stock Investor Place Financial News Archive |
|
|
|
