Storage giant EMC reported strong fourth-quarter results and raised its outlook for 2011.
The company today reported earnings of $628.6 million, or 29 cents a share, on revenue of $4.9 billion, up 19 percent from a year ago. Non-GAAP earnings were 42 cents a share, a penny ahead of Wall Street estimates. Wall Street was looking for fourth-quarter earnings of 41 cents a share on revenue of $4.79 billion.
EMC last week launched a big push into the midmarket and is aggressively targeting NetApp. The company also plans to more aggressively market its wares. Last week's product launch featured more showmanship than has been the norm for EMC.