Despite increasingly tough market conditions, EMC posted a solid set of Q1 results this morning, which saw its revenues jump 17 percent to $3.47 billion, just above analyst estimates.
The vendor also denied that technologies like thin provisioning and de-duplication are cutting into earnings, and CEO Joe Tucci appeared to leave open the potential for EMC to sell more of its stake in VMware.
On a GAAP basis, the vendors earnings were 13 cents per share on net income of $268.8 million, down from $312.6 million and 15 cents in the year-ago quarter, although this quarters figure included a $79.2 million non-cash charge for acquisition expenses.
EMCs non-GAAP earnings were 23 cents per share on net income of $477.3 million, up from 18 cents and $384.5 million in the same period last year. Analysts had estimated earnings of 16 cents.
I am very pleased with our overall performance, despite a tough economic climate, said Tucci during a conference call this morning. But he warned that this is no time for the faint-hearted in the storage market. This is absolutely a case where you will see the strong get stronger and the weak get weaker -- were on the strong side.
With the move to the cloud, CISOs must shift priorities from operating security programs to overseeing (monitoring and auditing) outsourced cybersecurity programs.
2022 was a boon year for IT salaries. 2023 came in like a beast with layoffs, raise freezes, and ChatGPT, but that beast has few teeth.
Age is only a number. Don't let a high number cancel your career.
