EMC Reports Record Earnings
Fueled by the continual adoption of cloud services and management of large amounts of data, Hopkinton-based IT firm EMC posted record profits of $2.4 billion in 2011 on revenues of $20 billion, figures that exceeded the company's expectations.
Revenues for the company grew 18 percent in 2011 compared to the year before, while profits increased from $1.9 billion in 2010.
In the fourth quarter of the year, the company earned an $832 million profit on $5.6 billion in revenues. Revenues rose 14 percent while profits during the quarter rose 32 percent year over year.
Revenues for the company's data storage units increased from $12.7 billion in 2010 to $14.7 billion last year. Revenues from VMWare, which EMC owns a part of, increased from $2.8 billion to $3.72 billion year over year. The company's RSA Security Division, which was the subject of a hacking incident in the middle of the year, weathered that storm and saw revenues increase from $729 million in 2010 to $828 million in 2011.
WBJ Web Partners
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