EMC Rides Cloud Infrastructure Demands to Record Q2 Results
Storage specialist EMC Corporation has released its second-quarter results for 2011, with growing demand for cloud infrastructure and solutions leading the company to a record $4.85 billion in net revenue — a 20 percent year-over-year boost. That revenue gain was complemented by net income growth of 28 percent year-over-year to $546 million.
Here’s the mouthful from EMC Chairman and CEO Joe Tucci about his company’s growth, from the prepared statement:
“Our record-setting performance during the quarter was marked by balanced growth, solid execution and significant technology innovation as customers around the world continue to embrace EMC’s cloud computing and Big Data strategies. It is our firm belief that this strategy is well-placed and underpinned with winning products and services and strategic partners. We remain confident in our ability to continue delivering strong results this year and over the long term. Furthermore, we remain committed to investing heavily to extend our technology lead and help customers and service provider partners accelerate their IT and business model transformations.”
In other words: EMC is planning on keeping momentum going with its existing strategies and place more emphasis on helping service providers make the leap into storage-as-a-service and other cloud models.
The press release has the financial nitty-gritty, as usual. But EMC is singling out the EMC Information Storage, EMC Symmetrix and wholly owned subsidiary VMware as growth businesses. EMC also made sure to include a special mention of increased demand for solutions from VCE, the Virtual Computing Environment company formed by Cisco and EMC with tech from Intel and VMware.
We’ll be watching EMC closely for updates, so stay tuned.