Boston, MA 07/25/2013 (wallstreetpr) – EMC Corporation (NYSE:EMC) closed in the previous trading session at $26.75 after heading towards northwards direction by 5.61% ($1.42). With around 2.10 billion outstanding shares, the market capitalization of the company is $56.20 billion.
The company EMC Corporation, a provider of enterprise data storage systems, was expected to post higher earnings in the report of its second quarter financial results. It was previously announced that EMC will host its 2nd quarter 2013 earnings conference call at 8:30 a.m. ET on 24 July, 2013 to discuss the results.
The company continues to act as a leader in the field of storage technology. It offers solutions from small to large enterprise businesses. Day before yesterday, EMC Corporation was expected to earn 42 cents per share, up by 7.7 percent from 39 cents per share in the last year’s same quarter. The quarterly revenues were expected at $5.6 billion which implied that there would be a growth of 5.5 percent from the revenue of $5.31 billion that was generated in the period year ago.
The company, EMC Corporation is the market leader in storage as it holds about 30 percent share in it. The revenue projections of the company are primarily linked to the spending trends of IT.
According to the results, the company earned $701 million compared with $650 million last year. The services logging gains and the product sales led to an increase in the revenue of the company. The United States revenue that represents over half of the revenue of the company rose up by 4 percent whereas the revenue outside U.S jumped by 8 percent. The company said that the Latin American, Japan and the Asia Pacific regions posted double-digit gains. According to the company, the joint venture of EMC and VMware to form a new company called Pivotal was a very good progress.
