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ShareEMC Plans Web 2.0 Blitz
Posted by James Rogers on January 29, 2008
Despite an increasingly uncertain economic climate, EMC has posted a strong set of 2007 results, while outlining more of its plans for new Web 2.0, NAS, and security products.
The vendor's fourth-quarter revenues were $3.83 billion, an increase of 19 percent over the same period last year, and above analyst estimates of $3.66 billion. For the full year, EMC's revenues were a record $13.23 billion, 19 percent up on the prior year and higher than the $13.06 billion estimated by analysts.
On a GAAP basis, EMC's quarterly earnings were 24 cents on net income of $525.7 million, 33 percent up on the year-ago quarter.
For the full year, the vendor's earnings were 77 cents per share on net income of $1.67 billion, a 43 percent increase on the year-ago quarter. Analysts had estimated quarterly and annual earnings per share of 22 cents and 70 cents, respectively.
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