Boston, MA 10/04/2013 (wallstreetpr) – EMC Corporation (NYSE:EMC) is a leader in the provision of data storage solutions as well as data warehousing, business intelligence and virtualization. Taking into considerations its recent results, it will be wise to categorize its shares as a buy in the market. This is a result of its products such as Symplicity Mozy and Vblock gaining the much needed attention and acceptance among businesses that are relying on the cloud technology. EMC recorded descent results for the second quarter that shows why its stock ought to be a buy in the market.
EMC revenue for the second quarter of 2013 revenue stood at $5.61 billion which is good considering there are other bigger players in the industry. The $5.61 billion revenue was an increase in 6% as compared to the same quarter last year. Its domestic revenue stood at $3 billion an increase of 4% contributing to 53% of the total revenue. Its revenue was even better for international markets as it rose by 8% totaling $2.7 billion. The growth in revenue has been attributed to its information infrastructure business Pivotal and VMware. EMC holds an 80% stake in VMware which posted increased revenue of 11% in its latest quarter complimented with an income of $244million. The revenue was a 28% jump compared to the previous quarter contributing greatly to EMC earnings and revenue.
General Electric has announced an investment totaling $105 million in Pivotal that could see EMC revenue rise even further in the coming months. EMC grew by 12% in ASIA Pacific and Latin America in the second quarter while revenue in North America increased by 4%. EMC looks set to grow even further in the coming years having hired Symantec exec to run its new emerging products that features the company’s Xtremlo flash storage systems, XtremSF server flash cards and XtremSW.
