EMC's third quarter hits target

The tech giant, which owns most of VMware, is benefiting from virtualization and demand for storage, as it pulls in revenue of $4.21 billion.

EMC today met earnings expectations for the third quarter and raised its outlook for 2010.

The company reported earnings of $649.4 million, or 22 cents a share, on revenue of $4.21 billion. Non-GAAP earnings were 30 cents a share, in line with Wall Street estimates (statement).

As for the outlook, EMC projected non-GAAP earnings of $1.25 a share on revenue of $16.9 billion. Wall Street was projecting earnings of $1.21 a share on revenue of $16.7 billion.

EMC, which owns most of VMware, is benefiting from virtualization and demand for storage.

Read more of "EMC's third quarter on target, ups 2010 outlook" at ZDNet's Between the Lines.

About the author

    Larry Dignan is editor in chief of ZDNet and editorial director of CNET's TechRepublic. He has covered the technology and financial-services industries since 1995.

     

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