As EMC and Dell shareholders prepare to vote on a merger between the two technological giants, EMC reported a climb in revenue in the second quarter of 2016 as its subsidiaries continued to grow their profits.
The Hopkinton-based company reported $6 billion in consolidated revenue for the first quarter, a 16 percent increase year over year, according to a release from the company. EMC generated $1.6 billion in operating cash flow and $1.34 billion in free cash flow in the second quarter, and ended the quarter with $16.1 billion in cash and investments., according to the company.
EMC’s subsidiaries fared better with VMware’s first-quarter revenue within EMC up 11 percent year over year. According to the release, Pivitol continues to have success with its cloud and big data subscription software, with second-quarter revenue up 49 percent year over year.
Joe Tucci, EMC chairman and CEO, said in a statement that he expected the merger with Dell to continue along the original terms and timeframe.
The Dell-EMC merger that was initially announced last September and has been approved by the European Commission and the U.S. Federal Trade Commission. The takeover’s $67-billion price tag is far above the current record-holding tech buy — the $25-billion sale of Compaq Computer to Hewlett-Packard in 2002.
Correction: A previous version of this article used incorrect data from a previous quarter.Â
