EMC Follows VMware Higher On Earnings (EMC, VMW)

Apps & Software

Published: April 23, 2008 7:48 am

Last Updated: March 26, 2020 11:33 am

Shares of EMC Corp. are running up after earnings. The company’s net income of $268.8 million came to $0.13 EPS GAAP and $0.16 EPS non-GAAP while revenues were $3.47 Billion. First Call had estimates of $0.16 EPS and $3.45 Billion in revenues.

Storage systems posted a gain of 10% revenue gain, and that is its largest group. Software license and maintenance revenue rose 18%.

CEO Joe Tucci also noted that the company is off to a strong year and that the company is on track to meet targets set at the beginning of the year.

The company also spent approximately $557.2 million to repurchase approximately 36 million shares of EMC common stock, which comes to roughly $15.47 per share.

EMC shares are up 5% at $15.39 in pre-market trading; and the 52-week trading range $14.01 to $25.47. After VMware’s earnings last night, its shares are up 12.5% at $65.27 in pre-market trading.

Jon C. Ogg
April 23, 2008

Jon Ogg is a producer of and editor for both the Special Situations newsletter and the "10 Stocks Under $10" weekly newsletter for a673b.bigscoots-temp.com; he can be reached at [email protected] and he does not own securities in the companies he covers.

Get Ready To Retire ^(Sponsored)

Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future