EMC's second quarter results were on par with expectations, but the 2012 outlook was a bit light relative to estimates.
The storage giant reported second quarter earnings of $650 million, or 29 cents a share, on revenue of $5.31 billion, up 10 percent from a year ago. Non-GAAP earnings were 39 cents a share for the second quarter.
EMC's results were in line with what the company telegraphed last week.in what could be the beginning of a unification effort in the years ahead. EMC owns 80 percent of VMware, on Monday to target network virtualization.
For EMC, the information storage business saw second quarter revenue increase 7 percent from a year ago. High end storage systems showed sales growth of 3 percent. Revenue from the U.S. accounted for 54 percent of EMC's total second quarter sales.
As for the outlook, EMC projected 2012 earnings of $2.75 billion, or 1.25 a share, on revenue of $22 billion. Non-GAAP earnings for the year will be $1.70 a share. Wall Street was looking for non-GAAP earnings of $1.73 a share on revenue of $22.07 billion.
Here's the breakdown of EMC's results by business.