EMC profit matches estimates as cloud software unit shines

Reuters News
Posted: Jul 24, 2013 7:17 AM

(Reuters) - EMC Corp <EMC.N>, the world's largest data storage equipment maker, reported quarterly profit that met analysts' expectations, helped by growth at its cloud software unit, VMware Inc <VMW.N>.

Excluding one-time items, the company earned 42 cents per share in the second quarter, meeting analysts' estimates, according to Thomson Reuters I/B/E/S.

EMC's revenue was $5.61 billion in the quarter, in line with analysts' estimates. It reported $5.31 billion a year earlier.

Net income attributable to the company was $701 million, or 32 cents per share, in the second quarter. It reported $650 million, or 29 cents per share, a year earlier. (http://r.reuters.com/myg89t)

VMware raised the high end of its full-year revenue forecast range on Tuesday after reporting a stronger-than-expected second-quarter profit, saying federal government demand and enterprise deals were likely to pick up in the second half.

(Reporting by Sruthi Ramakrishnan and Supantha Mukherjee in Bangalore)