EMC Sees Q3 Gains, But Cuts Sales Outlook
Hopkinton-based EMC Corp. saw its revenue and profits rise in its third quarter, but the data storage leader cut sales outlook for the year from $22 billion to $21.6-to-21.75 billion.
Revenue for the quarter was $5.27 billion, up from $4.98 billion during the same quarter last year. For the first three quarters of 2012, revenue is $15.68 billion, up from $14.43 billion last year.
Third-quarter profits were $626.3 million, up from $605.6 million. And so far for the year, profits are $1.86 billion, up from $1.62 billion.
Joe Tucci, the company’s president and CEO, said the third-quarter growth reflects “the resiliency of our business in a more uncertain global economic environment.”
COO David Goulden noted that EMC’s business continues to grow faster than the pace of overall IT spending.
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