EMC Reports 19% Increase In Second-Quarter Profits, Consolidated Revenue Was $5.31 Billion

Posted on Jul 24 2012 - 11:09am by Editorial Staff

EMC today announced its financial results for the second quarter of 2012 with the consolidated revenue was of $5.31 billion, an increase of 10% compared with the year-ago quarter. GAAP net income attributable to EMC increased 19% year over year to $650 million while GAAP earnings per weighted average diluted share increased 21% year over year to $0.29. Non-GAAP earnings per weighted average diluted share were $0.39, an increase of 11% year over year.

During the second quarter, EMC generated operating cash flow of $1.24 billion and free cash flow of $958 million, a year-over-year increase of 16% and 36%, respectively. Additionally, the company expanded GAAP and non-GAAP gross margin and operating margin percentages on a year-over-year basis, and ended the quarter with $10.9 billion in cash and investments.

Here is what Joe Tucci, EMC Chairman and Chief Executive Officer, said:

“Organizations are moving quickly to adopt cloud computing and take advantage of both the efficiency and agility that comes with running IT-as-a-Service. Customers are also looking to deploy a new generation of Big Data applications to gain competitive advantage and differentiate their businesses. And they demand that all this be done in a secure and trusted way. EMC is widely recognized as a leader and driver of this transformation.”

(Image Source: EMC)

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