Summary Box: EMC reports 3Q earnings

AP News
Posted: Oct 19, 2010 11:45 AM
Summary Box: EMC reports 3Q earnings

THE RESULTS: EMC Corp., the world's largest maker of data-storage systems, earned $472.5 million in the third quarter, up 58 percent from a year ago. Revenue rose 20 percent to $4.21 billion.

THE OUTLOOK: EMC raised its forecast for the rest of the year to just above analyst estimates.

THE BACKGROUND: EMC is doing well as companies retool for "cloud computing," moving their applications away from desktop computers and into server farms. The company is seeing a continued, but slow, economic recovery.