EMC Breaks Quarterly Revenue Record
EMC has once again hit it out of the park with record-breaking Q2 revenues. Led by customer demand for its high-end Symmetrix portfolio, Avamar and Data Domain product families, as well as VMware, EMC reported consolidated revenue for Q2 hitting $4.02 billion, an increase of 24% compared with the year-ago quarter.
According to EMC (NYSE: EMC), GAAP net income attributable to EMC increased 108% year-over-year to $426 million; and GAAP diluted earnings per share were $0.20, up 100% year-over-year. Non-GAAP net income attributable to EMC for the second quarter was $596 million, an increase of 66% compared with the year-ago quarter, and non-GAAP earnings per diluted share were $0.28, an increase of 56% year-over-year.
During the quarter, EMC achieved all-time record year-to-date operating cash flow and free cash flow of $2.1 billion and $1.6 billion, which grew 44% and 47%, respectively, compared with the year-ago period.
The company completed the quarter with $10.3 billion in cash and investments.
EMC also announced that it expects to exceed its previous outlook for 2010 revenue, consolidated GAAP EPS and consolidated non-GAAP EPS.
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