EMC Report High Profits in 3rd Quarter, Staying On Top of the Cloud
Three cheers for EMC as it achieved year end targets early, by the end of third quarter. EMC has a global presence and provides solutions in the areas of network storage, data recovery and information management. The company’s profits have risen by 58%. The Wall Street Journal reports:
The company has slashed costs and boosted revenue through a series of acquisitions, including the $2.2 billion purchase of data-storage company Data Domain last year and its more recent acquisition of Greenplum Inc. Last week, EMC unveiled a new data-management system using technology from Greenplum as it seeks to expand into the data-analysis market.
Research firm Wedbush last week said enterprise demand is holding up and noted that within information technology, storage appears to be doing “relatively better” as companies add capacity or refresh their data centers. This is benefiting storage vendors such as EMC and NetApp Inc., according to Wedbush.
It’s important to note that these gains solidify EMC’s top position in the industry, especially as the company is #1 in storage virtualization and VMware virtualization. As EMC is being eyed by Oracle for an acquisition, finighing the third quarter strong is encouraging for any related goals therein. There seems to be a positive financial trend in the cloud computing industry overall, as IBM reported higher revenues as well.
A message from John Furrier, co-founder of SiliconANGLE:
Support our mission to keep content open and free by engaging with theCUBE community. Join theCUBE’s Alumni Trust Network, where technology leaders connect, share intelligence and create opportunities.
- 15M+ viewers of theCUBE videos, powering conversations across AI, cloud, cybersecurity and more
- 11.4k+ theCUBE alumni — Connect with more than 11,400 tech and business leaders shaping the future through a unique trusted-based network.
About SiliconANGLE Media
SiliconANGLE Media is a recognized leader in digital media innovation, uniting breakthrough technology, strategic insights and real-time audience engagement. As the parent company of SiliconANGLE, theCUBE Network, theCUBE Research, CUBE365, theCUBE AI and theCUBE SuperStudios — with flagship locations in Silicon Valley and the New York Stock Exchange — SiliconANGLE Media operates at the intersection of media, technology and AI.
Founded by tech visionaries John Furrier and Dave Vellante, SiliconANGLE Media has built a dynamic ecosystem of industry-leading digital media brands that reach 15+ million elite tech professionals. Our new proprietary theCUBE AI Video Cloud is breaking ground in audience interaction, leveraging theCUBEai.com neural network to help technology companies make data-driven decisions and stay at the forefront of industry conversations.
