EMC reports better-than-expected earnings, outlook

The storage giant reports strong fourth quarter as both earnings and revenue come in ahead of expectations. The company also raises its outlook for this year.

EMC's fourth quarter closed strong as both earnings and revenue came in ahead of expectations. The company also raised its outlook for 2010.

The storage giant reported fourth quarter net income of $426.5 million, or 20 cents a share, on revenue of $4.1 billion, up 2 percent from a year ago. Non-GAAP earnings in the fourth quarter were $695.5 million, or 33 cents a share.

Wall Street was expecting earnings of 30 cents a share on revenue of $4.02 billion. For 2009, EMC reported net income of $1.1 billion, or 55 cents a share, on revenue of $14 billion.

Read moreof "EMC earnings: Fourth quarter, 2010 outlook better than expected" at ZDNet's Between the Lines.

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