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EMC Reports $701M Net Income, In Line With Analyst Estimates

|Includes: Dell Technologies Inc. (DELL), VMW

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EMC Corporation (EMC) reported net income of $701M, a jump from $650M reported last year. Earnings per share this quarter increased from $0.29 last year to $0.32 earnings per share this quarter. Similarly, the company's revenue increased 6% from $5.31B to $5.61B. Aggressive growth from Pivotal, VMware (NYSE:VMW), and EMC Information Infrastructure, subsidiaries of EMC Corp, helped propel the company this quarter. EMC is projecting $23.5B in revenues this year, with $3.0B net income, and earnings per share of $1.37. EMC subsidiary VMware, a cloud software company, increased its annual forecast after reporting higher than expected revenues and profits.

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