October 19, 2010
EMC Posts $472M Q3 Profit
By Matthew L. Brown
Hopkinton-based data storage and security giant EMC Corp. said third-quarter revenue hit $4.21 billion as profits reached $472.5 million, a 58 percent increase over the same period a year ago.
During the quarter, the company's operating cash flow was $3 billion, an all-time record, the company said. It ended the quarter with $10.5 billion in cash and investments.
The company said it is focused on markets where growth is brisk, and ideally stronger than in the IT market as a whole.
It said the quarter's results were driven by strong customer demand, growth in its RSA information security division and VMware, which is majority-owned by EMC.
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