EMC reports record 2010 financials
EMC has reported that for its fourth quarter, consolidated revenue was US$4.9 billion, an increase of 19% compared with the year-ago quarter.
Net income also increased 61% year-on-year to US$628.6 million thanks to strong performances in storage and virtualisation markets.
Joe Tucci, EMC Chairman and Chief Executive Officer, said, “EMC’s performance in 2010 was the best in company history, marked by rapid growth, market share gains, financial leverage and significant investment in technology innovation.
“The platform for change in the IT industry has arrived with the biggest opportunity residing at the intersection of trusted cloud computing, enterprise data and ‘Big Data.’ Equipped with the strongest, most distinctive product and services portfolio and strategic partners, we have never been more confident in EMC’s position to lead this transformational shift to IT as a service.”
EMC recently unveiled a number of new systems and capabilities designed to make it easy for businesses of all sizes to “harness and exploit” the large amounts of information they generate each day. The technologies are part of a multi-billion dollar investment in storage.
David Goulden, EMC Executive Vice President and Chief Financial Officer, added, “In 2010 we executed our triple play impressively – simultaneously taking market share, reinvesting meaningfully in our business and delivering improved profitability. Tremendous progress on all of these objectives throughout the year puts EMC in its best financial and operational shape ever.
"We are in great position to continue to deliver our triple play results in 2011; continue to achieve solid double-digit revenue and profit growth, expand operating margins and grow free cash flow for the year; and further strengthen EMC’s strategic position for the long term."
