EMC Q1 Revenues Grow on Customer Demand
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EMC (NYSE: EMC) reported record first quarter revenues this week.
The company said that consolidated revenue for the first quarter came in at $4.6 billion, an 18 percent jump from the same quarter last year. Meanwhile, GAAP income for the quarter grew by 28 percent year over year, bringing in some $477.1 million for the period.
Diluted GAAP earnings per share (EPS) were $0.21 -- growing 24 percent from last year, the company said. Non-GAAP income for the quarter totaled $700.4 million, up 27 percent over the first quarter of 2010, while non-GAAP EPS totaled $0.31, a gain of 19 percent over the same quarter of last year.
"We are positioned squarely at the intersection of two of the most sweeping trends in IT -- cloud computing and 'Big Data'," Joe Tucci, EMC's chairman and CEO, said in a statement.