EMC Posts Another Strong Quarter
EMC Corp. of Hopkinton reported its ninth straight quarter of double-digit growth in revenue and profits.
Revenue for the first quarter of 2012 rose 11 percent to $5.1 billion while profits rose 23 percent to $587 million. Meanwhile, earnings per share increased 29 percent to 27 cents.
The technology giant cited strong customer demand for its mid-tier storage products, whose revenue increased 26 percent. In addition, its Isilon scale-out NAS business nearly doubled its revenue year over year, and its VNX unified storage family, Backup Recovery Systems portfolio, and Greenplum portfolio each delivered strong year-over-year revenue growth. Meanwhile, EMC's RSA Information Security business increased revenue 19 percent and revenue from virtualization and cloud infrastructure vendor VMware grew 25 percent.
Additionally, EMC said there was continued strong demand for its services to help customers accelerate the development of cloud computing initiatives. Joe Tucci, EMC's chairman and CEO, cited "a time of unprecedented IT and business transformation," propelled in part by the benefits of cloud computing.
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