EMC chalks up record Q1 revenue

EMC Corp. said it pulled in record revenue in the first quarter of US$3.47 billion, up 17 per cent over the same period last year. First-quarter net income according to generally accepted accounting practices (GAAP) was $268.8 million (all figures in U.S. dollars), which included a $79.2 million non-cash charge for in-process research and development resulting from acquisitions completed during the quarter.

Excluding this charge, net income was $348.0 million. Non-GAAP first-quarter net income, which excludes the IPR&D charge and other items, was $477.3 million.

Compared with the first quarter of 2007, EMC systems revenue increased 10 per cent and represented 41 per cent of total first-quarter revenue. Software license and maintenance revenue increased 18 per cent and accounted for 41 per cent of total revenue. Other services revenue grew 30 per cent and represented 18 per cent of total revenue.

Its VMware division had first-quarter revenues of $438.2 million, an increase of approximately 71 per cent compared to the year-ago quarter.

Looked at geographically, revenue from North America increased 14 per cent compared with the same period a year ago and represented 57 per cent of total first-quarter revenue. Revenue from operations outside of North America grew 21 per cent year-over-year, driven by double-digit revenue growth in each of EMC’s Europe, Middle East and Africa (EMEA), Asia-Pacific and Japan (APJ) and Latin America regions.

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

Howard Solomon
Howard Solomon
Currently a freelance writer, I'm the former editor of ITWorldCanada.com and Computing Canada. An IT journalist since 1997, I've written for several of ITWC's sister publications including ITBusiness.ca and Computer Dealer News. Before that I was a staff reporter at the Calgary Herald and the Brampton (Ont.) Daily Times. I can be reached at hsolomon [@] soloreporter.com

Featured Articles

Cybersecurity in 2024: Priorities and challenges for Canadian organizations 

By Derek Manky As predictions for 2024 point to the continued expansion...

Survey shows generative AI is a top priority for Canadian corporate leaders.

Leaders are devoting significant budget to generative AI for 2024 Canadian corporate...

Related Tech News

Tech Jobs

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

Tech Companies Hiring Right Now