EMC Corp.'s first-quarter earnings rose 23% amid strong demand for its mid-range storage products, but revenue fell slightly short of expectations.
EMC's revenue topped analysts' projections throughout 2011 as the company benefited from increased demand for its data centre products, such as storage. But the first quarter's revenue of US$5.09 billion was a little weaker than the US$5.12 billion expected by analysts, according to Thomson Reuters. EMC reported a profit of US$586.8 million, up from US$477.1 million, a year earlier. Excluding items such as stock-based compensation, amortization, restructuring and acquisition charges, per-share earnings rose to 37 cents from 31 cents.
Source: 4 Traders